A brief background to IHT and the available allowances Inheritance tax (IHT) is the tax imposed on the estate of someone who has passed away, which includes assets such as your home and savings. Everyone benefits from a £325k ‘nil-rate band (NRB)’ and an additional ‘residential nil-rate band (RNRB)’ of £175k when a residential property […]
Is your pension on autopilot?
The word ‘pension’ is enough to make most people’s eyes glaze over. In our experience, this is largely due to a lack of understanding and confidence in how they work, and, more importantly, what they mean for you. Over our next three blogs, we will shed light on three key areas where people often struggle, […]
Roadmaps to life-maps
In younger years and through professional sport, I was very lucky to have had the opportunity to explore the world and its less known places many times over. Back then, before leaving the comfort of home soil, your main source of information would have been a book or an atlas. No Alexa, no smartphones and […]
What is inheritance tax?
Inheritance tax (IHT) is one of the four primary taxes in the UK, alongside income tax, national insurance (NI), and capital gains tax (CGT). IHT is the tax imposed on the estate of someone who has passed away, including all their assets such as property, money, and possessions. Understanding how IHT works and what it […]
How much savings should I have?
At all stages in life, it’s common to wonder, how much savings should I have in the bank? When it comes to building savings, everyone’s circumstances and priorities differ. From preparing for unexpected expenses to setting aside funds for future goals, having a savings plan is essential to achieving financial security and peace of mind. […]
What is a pension?
A pension is essentially a savings plan designed to help you build up funds for your retirement. It’s a tax-efficient way of setting aside money throughout your working life so that, when the time comes, you can rely on those savings to provide an income. How does a pension work? Pensions are long-term savings plans […]
From space to finance
At Rosart, we’re always excited to welcome new perspectives. Recently, Chloe joined us as a Financial Planning Administrator after working for over six years as an Engineer in the space industry. While space exploration and financial planning may seem worlds apart, they share several key principles that can benefit anyone navigating their financial journey. Here, […]
Do I need a will?
Regardless of your age and responsibilities, everyone should have a will in place. Whilst death might not be something we like to think about, planning for it can protect your loved ones, as well as ensure your wishes are carried out. A will often makes things far easier for those who you love once you […]
In what way does the Bank of England’s decision to change interest rates affect me?
Possible interest rate changes, the expectations surrounding the Bank of England’s decisions, and any repercussions seem to frequently be the focus of news outlets but how do they affect your personal finances? The Bank of England changes interest rates to manage the economy and ultimately the decisions they make directly impact everyone’s financial life. What […]
How much money would I need to become financially free of work?
Financial freedom is more than just a number; it’s a state of being where you have complete control over your finances, allowing you to make choices based on your desires and goals rather than being restricted by the cost. It means having enough income or savings to cover your expenses, giving you the freedom to […]