The Strain Practice

The photos say it all - Congratulations Armagh - Class

Best wishes to Armagh GAA in the All-Ireland today.

We showed all our support last weekend - Really looking forward now to the 28th

🥁 Roll up.. Roll up 🥁

We have another exciting opportunity to join expert guest speakers from Connection.

💻 Digital Assets & Legacy Planning
📅 Wednesday 5 June 2024
⏰ Time: 12:30 – 13:30
📍 Location: Zoom Webinar
📢 Speakers: Grant & Jo Coffey

Our digital footprint👣 is extensive from online banking to social media.

Planning your digital legacy allows more control over who has access to your online accounts and assets when you are gone, keeping everything in safe hands 🙌



- https://sjp-co-uk.zoom.us/webinar/register/6417085290979/WN_bgo5pWPGQb2J4oIbyWTuug

The Strain Practice Ltd is an Appointed Representative of and represents only St. James's Place Wealth Management plc (which is authorised and regulated by the Financial Conduct Authority) The `St. James's Place Partnership' and the titles `Partner' and `Partner Practice' are marketing terms used to describe St. James's Place representatives.

SJP Approved 05/03/2024

📢 ‘You’re Invited…’

Two very popular guest speakers are joining us for an insightful Market Update.

💡 Tax Planning Fundamentals & Market Overview
📅 Wednesday 13 March 2024
⏰ Time: 12:30 – 13:30
📍 Location: Zoom Webinar
📈 Speakers: Tony Wickenden, Directorship Technical Connection & Hetal Mehta, Head of Economic Research

https://sjp-co-uk.zoom.us/webinar/register/4717030945631/WN_2yWqsYy-RVatDe9sKn-mKQ

Together, Tony and Hetal will provide their thoughts on an ever-changing financial landscape and what to expect during 2024.

They will outline opportunities that can arise from informed advice and insightful planning, to support with your financial well-being.

With the end of another tax year fast approaching and the confirmation of a General Election in 2024, this is an ideal opportunity to hear the views of two industry experts.

Taxation rules can change at any time and are dependent on individual circumstances.



The Strain Practice Ltd is an Appointed Representative of and represents only St. James's Place Wealth Management plc (which is authorised and regulated by the Financial Conduct Authority) The `St. James's Place Partnership' and the titles `Partner' and `Partner Practice' are marketing terms used to describe St. James's Place representatives.

SJP Approved 21/12/2023

Navigating the Spring Budget: Opportunities for Tax Efficiency and Financial Planning This year's Spring Budget arrived a tad earlier than usual amidst a backdrop that's become all too familiar in recent years: rampant speculation and anticipation. Much of the pre-budget discourse centred around potential pre-election tax cuts, with National Insurance reductions leading the pack, and...

Capital Gains Tax (CGT) can trip many of us up. It’s a tax on the profit, or ‘gain’ that you make when you sell or even gift an asset that’s increased in value

Getting on top of Capital Gains Tax Capital Gains Tax (CGT) can trip many of us up. It’s a tax on the profit, or ‘gain’ that you make when you sell or even gift an asset that’s increased in value.

Interest rates and inflation rates can fluctuate dramatically, as we have seen in the past two years. And that can have a very real effect on the spending power of your savings and investments, as well as your day-to-day household expenditure.

Investing to beat inflation for the long-term Even though, at time of writing, the inflation rate, as measured by the Consumer Prices Index (CPI), has reduced significantly from 10.5% in December 2022 to 4% in December 20231, inflation remains a hot topic. This is welcome news for consumers, although prices still remain high and most families a...

Some personal goals are linked to life milestones: stopping work before we’re 60 or starting a family. Others are based on our dreams and ambitions; learning to fly or starting a small business later in life. We might want to give our children the best education we can, go travelling with them, or leave them a good legacy.

Setting personal goals and making them happen How do you imagine your future? Cruising the Norfolk Broads by narrowboat, or relocating to the Bahamas? Maybe you’ve decided that you’d like to start that micro business you always dreamed of, or move closer to family?

GREAT NEWS
We are delighted to announce that Melissa Murphy has recently qualified as a Financial Adviser with The Strain Practice . Melissa has worked in various roles with us in the last 10 years where she has a wealth of experience in all aspects of the financial services business.
Melissa will provide financial planning & protection advice to both personal and non-personal clients helping them with practical solutions to the financial issues that concern them most – vital at this time.
Denise, Declan , Shealan & Ryan are delighted to welcome Melissa to the Adviser team - looking forward to working with both new & existing clients in 2024.

Merry Christmas to all our clients, friends & families. May you all have a happy & peaceful new year 🎅

If you want to offer financial support to your family, annual gift allowances mean you can pass on money amongst your family members, tax-free

Gifting can help your family beat the cost-of-living crisis We have been living with the cost-of-living crisis since late 2021. Those with young families, and young people in particular are cutting back wherever possible – a quarter of 18-34-year-olds have reduced their rainy-day savings as price rises bite, according to TSB research1.

Even if you’ve saved carefully for long term care, made your Will and got your affairs in order, there’s no knowing when life might suddenly throw you a curveball.

Why it’s so important to arrange a power of attorney Even if you’ve saved carefully for long term care, made your Will and got your affairs in order, there’s no knowing when life might suddenly throw you a curveball. A sudden change to your health or mental capacity can mean that you’re not able to manage your own financial affairs, or make impo...

Little bit of distraction in The Strain Practice this afternoon.
Guess who volunteered to take part in The Santa Run for The Hospice later on this evening???

Congratulations to Shauna Rooney who won our competition from the recent Women's Health Masterclass event.

Enjoy Shauna

Our thoughts & prayers this week are with our longstanding friends in Madden.
Sincerest condolences to the Grimley & McElvanna family circles, the gaels of Madden Raparees and the entire community at this difficult time.
We will continue to pray for everyone affected by this heartbreaking tragedy

We want to do the right thing by our families. Recent research by St. James's Place indicates that more than two-thirds (69%) of clients expect to provide some form of financial support for their family at some point.

How can I invest for my family’s future? They say you can’t put a price on family, but just how much does it cost to raise a child? Raising a child from birth to 18 in 2022, including household and childcare costs, stood at £157,562 for a couple and £208,735 for a lone parent1. Children are expensive, but seeing them grow and achieve t...

We were delighted to attend a recent Women’s Health Masterclass in the Canal Court Hotel Newry.
The event brought together a range of businesses and groups who provide supportive, collaborative and informative services for women including Occupational Therapy NI. A great opportunity to connect - and to give and receive great advice & support.
The Strain Practice was delighted to sponsor a stand with Denise Crozier, Melissa Murphy & Caroline McGinn all in attendance on the day.

As a Practice we are very supportive of helping women address their financial health and wellbeing needs.

We’re here to help you with the most mundane aspects of money management – and the most complex areas, too. Talking about how difficult things are, or how worried you are, is the first step to feeling better about it.

Keeping financial control during the cost-of-living crisis Financially it’s been a difficult few years for households in a range of income brackets. The cost of living has risen substantially as inflation has soared1, household energy bills have skyrocketed2, and interest rates are rising3. Meanwhile, investment markets have been choppy, which has been an...

Inflation is a topic that has been making headlines this year. It’s important to understand how it can impact your savings and investments.

Investing to beat inflation

Lifetime ISAs, or LISAs, can seem an attractive option if you’re saving for your first home, or starting to plan for your retirement income.
The government will pay a tax free cash bonus of 25% on any contribution you make – but if you withdraw the money for any reason other than a first home or later life income, there are hefty exit penalties.

What is a Lifetime ISA, and how do they work? The Lifetime ISA (LISA) replaced the government’s Help to Buy ISA scheme at the end of 2019. LISAs were designed to help younger savers get on the property ladder or start to save for later life. And they look attractive. For every LISA contribution you make, the government will add 25% – tax-fr...

In 2021, the NHS estimated that 24% of men and 28% of women aged 65 and over needed help with at least one daily living task, whether that need is met by paid carers, or unpaid. That’s around one in four1. And over half of those over the age of eighty need some form of help or care.

What are the chances you’ll need long-term care one day? It’s a question that’s very hard to answer, and all too easy to avoid. But in terms of financial wellbeing, it’s the million dollar question. Paying for social care, for as long as you need it, can make a huge hole in your finances. And it can make a big difference to the amount of money you c...

Finding the money to pay for care home fees can be one of the biggest financial worries facing us in later life.
Your local authority may help fund your social care – but they can claw back money if they believe you’ve given assets away deliberately to avoid paying the cost of care fees.
There are complex rules on giving away assets – a financial adviser can help you understand these before transferring ownership of assets to someone else.

Can I gift assets to avoid paying care home fees? Arranging social care in later life can burn through money. The cost of residential care now stands at just over £46,000 per year1 – and that’s without nursing costs. In cities such as London and Brighton, the annual figure is over £50,000.1

Many people know that they can gift money to reduce the size of their estate, but not everyone is aware that workplace pensions and death-in-service benefits can also be shielded from IHT.

Don’t leave your family an avoidable IHT bill

With inflation still high, small and medium-sized enterprises (SMEs) must prepare for more operating cost increases and squeezes on profit margins.

How to deal with rising costs: six ways to boost efficiency

We are delighted to announce that Ryan Brady has recently qualified as a Financial Adviser with The Strain Practice in Newry. Ryan has worked in various roles with us in recent years where he has learned about all aspects of the financial services business.

Ryan can provide financial planning advice to both personal and non-personal clients helping them with practical solutions to the financial issues that concern them most and his advice covers all areas of wealth management, retirement planning and protection. Ryan will continue to offer mortgage advice.

Denise Crozier, Declan Strain and Shealan Strain are delighted to welcome Ryan to the Adviser team within The Strain Practice – a great addition, to service & support our new & existing client base.

The value of your investment can go down as well as up. You could get back less than you invested.

Your home may be repossessed if you do not keep up repayments on your mortgage

The Strain Practice Ltd is an Appointed Representative of and represents only St. James's Place Wealth Management plc (which is authorised and regulated by the Financial Conduct Authority). The titles 'Partner' and 'Partner Practice' are marketing terms used to describe St. James's Place representatives.

Gains from almost any kind of personal possessions could be liable to CGT - a financial adviser can help work out how much you will pay.

How to reduce your Capital Gains Tax bill Capital Gains Tax (CGT) is a complicated area of tax-planning and can trip many of us up. It’s wise to get your head around CGT and take financial advice, so you don’t end up paying more than you need to.

When you pay off your mortgage, you’ll have money that’s freed up by no longer having mortgage payments. Rather than see this money dissolve into household budget or day-to-day spending, consider how powerful it could be if you invested it

Paid off your mortgage? Time to invest in yourself You’ll always remember those life-changing moments: meeting the person who becomes your partner, the birth of your children, collecting the keys to your first home.

It’s important to be open with employees about your firm’s situation and encourage them to share ideas about what would relieve the pressure on them.

How to keep staff motivated in a downturn As a Small or Medium-Sized Enterprise (SME) owner, it’s vital to understand how tough economic times can affect team morale and how to respond. With household budgets stretched, employees may feel deflated that their income is worth less in real terms, and they may worry about their jobs or feel u...

Building a nest egg for your kids doesn’t need to break the bank and could make a huge difference to their future.

How can I invest for my children? They say you can’t put a price on family, but just how much does it cost to raise a child? Raising a child from birth to 18 in 2022, including household and childcare costs, stood at £157,562 for a couple and £208,735 for a lone parent1.