ISAs: what are they, and which one is for me
7 Mar 2025
Since being launched back in 1999 Individual Saving Accounts (ISAs) have been very popular for those wanting to put money into savings. There are four types of ISA, and the majority allow flexible saving and the ability to withdraw funds easily. There are financial penalties on certain products, these usually pay the most interest.
If you own more than one property (e.g. a holiday home or buy to let) you must elect one as your primary residence for tax purposes.
Contrary to belief, you do not need to use a lawyer in order to write your own will. It must simply be in writing and be properly witnessed by two independent third parties when you sign it.
As with all tax matters, you should consider your personal tax status and that of your spouse. Whilst you may expect to be liable (or not liable) for tax in certain circumstances, personal tax status and previous behaviour might result in a different outcome.
When a company director dies, it is usual for his shares to pass to whomever inherits his shares through his will. The mechanism by which the deceased’s executor might implement this transfer will, unless otherwise stated, be set out in the company’s articles.
Sometimes, the terms life insurance and life assurance are used interchangeably but it is important to realise that they are very different products.
A power of attorney (POA) or letter of attorney is a written authorization to represent or act on another's behalf in private affairs, business, or some other legal matter, sometimes against the wishes of the other.
One benefit of the current tax regime is that life cover, if taken out by the company, can be treated as an expense for tax purposes and is therefore allowable against corporation tax.
Losing your job or finding yourself ‘between jobs’ is, unsurprisingly, a stressful place to be. Keeping a cool head and taking action is important.
One of the biggest fears of any parent is that they die leaving young children. Of course, we all want to leave our children what we can in financial terms, but if they are under 18 then they will also need a guardian to look after them.
As a professional, responsible company Mortgage Required believe all clients should be aware of the risks associated with every loan. With this in mind we offer all customers a free protection review.
If you die without a Will in place then you are said to be ‘intestate’ and the laws of the land will decide what happens to your estate.
Dying without a Will is a very bad idea.. However, what if you don’t die? What if you are simply incapacitated and unable to either work and/or make your wishes known in respect of child care or the management of your assets?
Whilst the legal systems of Scotland and England vary and there are some specific differences with respect to the purchase and sale of property, both systems have advantages and disadvantages.
A will is a means by which a person may set out their wishes in respect of their estate in the event of their death. It might detail the deceased’s wishes for funeral arrangements and go into as much or as little detail as required, perhaps even detailing music and a venue for the wake!
If you have anything of value to leave when you die, or you have dependents or children that are under the age of majority, then you should have a Will that appoints guardians and allocates your wealth appropriately.
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