01278788646 enquiries@pwcltd.co.uk

Summer 2022 Newsletter

Summers are generally a chance to relax in better weather, enjoy some time off and potentially get abroad. This year, however, all of these come with added stress for many households and businesses.

The implications of steadily rising inflation on the cost of living, particularly energy and food prices, are focusing minds across the country. With wages lagging behind the headline figures, the impact on every level of financial planning – from everyday budgeting and saving decisions to those all-important holidays – is a reality for most.

If you are near retirement, you may be concerned both about timing stepping away from work and funding your lifestyle in the current economic climate. Every month this year has seen another hike in inflation, with the Bank of England predicting a two-year wait for a return to January 2022 levels. Our feature in this edition of our newsletter considers the impact for those who may need to reassess their options. Please contact us for tailored advice.

Although the rise in inflation has meant interest rates have started to creep above zero, savings account holders are unlikely to have much of those increases passed on to them. Shareholders could be in the best position this year with dividend payments predicted to grow further from their strong recovery in 2021. However, how you think about investment returns may need to shift when measured against those inflation figures.

Other stories for this edition include:

  • Could you join the one in five? By 2025/26 nearly 20% of UK taxpayers could be paying the higher rate following three years of threshold freezes and the current rise in inflation. Look to using tax allowances and advantages for spouses and civil partners to mitigate the effects.
  • What I wish I’d known – lessons from the other side of 50 Although many of us may be resistant to taking our parents’ advice, younger family members could take heed from a survey revealing two thirds of retirees wished they had saved more earlier into their pension.
  • Charitable giving – doing it right While anyone who gives to charity is surely now aware that ticking gift aid boosts a donation by 25%, there are also several other schemes that offer benefits to the taxpayer too.

Now is a good time to prepare for the increased challenges coming later this year. We are happy to discuss anything arising from the topics addressed in our newsletter.

summer_2022_newsletter.pdf843.04 KB

      CII Chartered logo

Positive Wealth Creation Ltd is authorised and regulated by the Financial Conduct Authority. Financial Services Register No: 481182 http://www.fca.org.uk/register.

Positive Wealth Creation Ltd Registered Address: 55 Victoria Street, Burnham on Sea, TA8 1AW. Registered in England & Wales, No. 4802683.

Neither Positive Wealth Creation Ltd nor its representatives can be held responsible for the accuracy of the contents/information contained within the linked site(s) accessible from this page.

The Financial Conduct Authority does not regulate National Savings or some forms of mortgage, tax planning, taxation and trust advice, offshore investments or school fees planning.

The Financial Ombudsman Service (FOS) is an agency for arbitrating on unresolved complaints between regulated firms and their clients. Full details of the FOS can be found on its website at http://www.financial-ombudsman.org.uk.

The information contained within this site is subject to the UK regulatory regime and is therefore targeted primarily at consumers based in the UK.

Please read our Privacy Statement before completing any enquiry form or before sending an email to us.