Uncategorized

Differences between Tax Avoidance and Tax Evasion

August 19, 2013 by TIna

Tax evasion happens when people deliberately don’t pay the tax they should and individuals, firms, trusts and other entities evade the payment of taxes by illegal means.

Tax evasion usually entails taxpayers deliberately misrepresenting or concealing the true state of their affairs to the tax authorities in order to reduce their tax liability, and includes, in particular, dishonest tax reporting, such as under-declaring income, profits or gains; or overstating deductions. HMRC states that tax evasion is a crime.

Ten tips for financial planning in later years

August 12, 2013 by TIna

Category: Uncategorized

This is not about planning for your end. This is about planning for quality of life later on, free from the bother of worrying about things not done and confident that you have a plan and safety net, just in case you don’t remain on top of your game forever.

There’s no way of putting this comfortably but most of us become a little more tired later in life and reliant on others close to us and around us. To help get the plan in place early on, here is a simple financial planning checklist:

Spend only what you can afford and save what you can

August 12, 2013 by TIna

Category: Uncategorized

If we judge UK personal savings as still too low and overall consumer debt as still too high, then we are in a situation where a few reminders about not deluding ourselves about what we can each afford, will not go amiss.

1. Don’t buy a house you can barely afford because you expect your income to rise later. For someone working and signing on for a mortgage, it might be natural to assume the payments will become more affordable as your income grows.

Are people trying to better manage their money?

August 12, 2013 by TIna

Category: savings & Uncategorized

People are changing their financial behaviours and developing more positive money habits to manage their money. This is evidenced in the findings of a major new study published in August 2013 by the Money Advice Service (MAS). However, the report also reveals that half of UK adults struggle to keep up with their bills and credit commitments. This figure is up from one in three in 2006.

Is an Annuity in Your Future?

August 02, 2013 by TIna

Category: Uncategorized

Interest rates are low at the moment – and Mark Carney, the Governor of the Bank of England, has just announced a new policy initiative which is likely to see them stay low for some time.

Interest rates are one of the key determinants of annuity rates, so it looks like those rates will also stay low for some time to come. Does this mean that annuities will fall further out of favour?

August Market Commentary

August 01, 2013 by TIna

Category: Uncategorized

There was good news and bad news for the world economy in July – as ever, commentators were divided on whether the glass was half full or half empty…

The price of gold has been steadily falling since its peak of $1,900 an ounce in August 2011. At the beginning of July it stood at less than $1,250 – which surely heralds a worldwide return of confidence. After all, gold is traditionally held as a hedge against economic uncertainty and downright financial Armageddon.

Differences between Tax Avoidance and Tax Evasion

Ten tips for financial planning in later years

Spend only what you can afford and save what you can

Are people trying to better manage their money?

Is an Annuity in Your Future?

August Market Commentary

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