Many people are taking action now, from taking family on holiday to paying off grandchildren’s student loans or giving tax-free gifts
Many of us are still getting our heads around the price increases and tax tweaks that took effect this month, but you might want to give some thought to next April.
Some big changes to pensions, savings and investments are coming down the track, and there are things you can do now and in the coming months to get ready for them.
One change that is very much front of mind for a lot of older people – and is keeping financial advisers and wealth planners very busy – is Rachel Reeves’s “inheritance tax raid” on unspent pension money that takes effect in just under a year’s time.
This has prompted many people to take action to avoid being landed with a bill that, for some, could run into five or six figures.
