Financial Focus: Spring 2025

In this issue…

As the new tax year arrives, the economic and political landscape has shifted since the new calendar year. While the Chancellor grapples with the challenges posed by disappointing growth and demands on the government’s resources, the return of Donald Trump in the US has heralded additional turbulence. In this edition we focus on making the most of the new tax year planning opportunities to shore up your finances. Understanding where your earnings will fall in 2025/26 in relation to your tax position is especially important. Part of assessing your financial wellbeing is also taking stock of your preparations for retirement. A surprisingly high number of people with fewer than 15 years to go until they reach their State Pension Age actually have no idea of the date they will receive it. Knowing how much money you will receive and when are critical for planning when, and how, you decide to retire. Whether you choose to buy an annuity should also be part of that planning. Overlooked by many following the advent of pension flexibility, better rates, and funding longer lives, have made them increasingly attractive.