Rebecca Maxwell-Hyslop Financial Planning

❓ Are you on track to receive a full State Pension, currently £10,600 pa

🔎 Check your forecast here https://lnkd.in/evyFTWtd

3️⃣ 5️⃣ Years of National Insurance Contributions for a full State Pension

🔟 Years of contributions to receive the minimum

➕ Deadline for voluntary NI contributions back to to 2006/7 extended to 31 July 2023

❓Is topping up your NI the right action for you?

💥This is one of the topics I cover in my no obligation financial health check

Should I pay to top up my State Pension? Making a voluntary contribution to your State Pension pot could be an efficient way to put money towards your retirement, but it’s important to consider all the implications

❓Planning a 'Tax Healthy' New Year?
❓Do you have a hour to spare

💥 Wednesday 7 December 2022 12:30 to 13:30 💥

Join our guest speakers and St. James’s Place taxation experts Marcia Banner and Niki Patel as they remind us why the approach of the end of the tax year is such a great time to review the tax efficiency of our financial plans.

The session will not only be reviewing the tax year end essential actions but will also be looking at the (arguably) even more important ‘tax year start’ actions you can take.

The increased level of interest in all things tax given the focus being taken by the government as part of the plan to repair public finances means it is even more important to be tax efficient.

The session will include:
🔸A review of the new ‘taxation context’ following the Autumn Statement
🔸Essential tax year end actions in relation to income tax, capital gains tax, inheritance tax and tax efficient investments
🔸 Essential tax year start strategies

💥💥To reserve your virtual seat https://lnkd.in/erkHd7T5 💥 💥

Taxation rules can change at any time and are dependent on individual circumstances.
Rebecca Maxwell-Hyslop Financial Planning 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.

🎺 Delighted to have been awarded the title of 'Chartered Financial Planner' by the Chartered Insurance Institute.

🏆 I set myself the goal of completing the Advanced Diploma in Financial Planning before the end of 2022 and I have done it!

🤹 Studying whilst setting up a business and juggling busy family life with 3 children has had it's challenges and I am so proud to have got here.

🙏 Thank you to my family, friends and colleagues for all your support, I hugely appreciate it.

💛 Helping clients with their finances is a job I love, thank you for the trust you put in me.

🌱 To my wider network, if you are unsure how you would benefit from working with a Financial Planner I happily offer a no obligation financial health check.

❓ I run my own business. Are dividends more tax efficient than salary?

❓ When I sell my buy-to-let, how can I make sure I do so as tax effectively as possible?



❓ I read that I’ll pay 60% Income Tax when my earnings reach £100,000, but there’s no information about this on the HMRC website. Is it true?

❓ How can I reduce my Inheritance Tax liability?

This articles shares some brief answers to these concerns and many others

Top 5 tax FAQs The UK tax system can be confusing, making it tricky to take advantage of all the reliefs and allowances you’re entitled to. To help, we’ve answered the most common questions.

During times of market turbulence, concentrate on the reality, believe in the process, block out the noise and focus on YOUR end goal.
Graphic: Felix Hazlehurst

❓What did you think of the Chancellors statement today

💥Let's be clear, the Chancellor's statement today was not a Budget, but a 'Growth Plan'. And because it wasn't a Budget, the Office for Budget Responsibility (OBR) was not required to carry out its routine detailed assessments and projections.

💥That said, some of the main changes announced today were well trailed ahead, as is often the case before Budgets, although there were several surprises.

Read more about it below, I would love to know your thoughts 🤔

What the Chancellor’s Growth Plan means for you What the Chancellor’s Growth Plan means for you

🐻Bear markets – a period where equity markets fall - are an inescapable feature of equity investing.

🐻They are also the greatest challenge that investors will face. This is not because of the (hopefully temporary) losses that will be suffered, but the poor choices we are liable to make during them.

🐻 Bear markets change the decision-making dynamic entirely. In a bear market, smart long-term decisions often look foolish in the short-term; whereas in a bull market foolish long-term decisions often look smart in the short-term.

🐻If we are to enjoy long-run investment success, we need to be able to navigate such exacting periods. There are certain features of bear markets that it pays to remember:

What we should remember about bear markets With markets currently volatile, Joe Wiggins, Director of Liquid Markets at St. James's Place, looks at some of the key features of a ‘bear market’

⭐ Have you given much thought to Inheritance Tax?

⭐ The IHT threshold of £325,000 has not changed for more than a decade meaning more people could be liable to pay the tax.

⭐ Through careful tax planning it is feasible to reduce your IHT liability and preserve your assets for future generations.

⭐ Pensions sit outside your estate for IHT purpose, giving them a big role to play in passing on your wealth.

More details here 👇

Keep it in the family with smart tax planning We look at the best ways of helping your loved ones benefit from your wealth after you’ve gone by cutting your estate’s tax bill

Happy International Women's Day 💚💜

A heartfelt thank you to all the amazing women in my life, for your support and encouragement on my journey.

Let's celebrate our success

Let's celebrate the success of other women

Let's join together and be more successful together

# What is the most tax efficient way to pay out a lump sum from company profits?

# If you’re a business owner and you’ve made a profit this year, here are some options for withdrawing that money.

# The grid looks at salary, dividends or a pension contribution.

# Dividend tax will increase by 1.25% at the start of the new tax year, so if you are going to take a dividend think about doing it before then.

💗 Delighted to have received this lovely review from a client
💗 Having your finances in order and understood, no matter your stage of life or level of income is good for both mental and physical wellbeing.

🍃 Join us for a tax year-end webinar on Tuesday 22nd February at 10am. The expert presenters will discuss a range of timely tax and financial planning ideas with a special focus on those that need to be seriously considered ahead of the tax year-end deadline on April 5th.

🍃 Register here: https://lnkd.in/d4s54qr6

💥 At this time of year financial focus is tax year end

💥 Are you making the most of the tax allowances available to you?

💥 Are you even aware of what is available?

💥 Many of these allowances will be lost if you don't use them

💥 Good financial planning is a series of small steps & taking advantage of opportunities, especially when it comes to tax!

Get in touch to find out more...

https://www.sjp.co.uk/news/use-it-or-lose-it-how-tax-allowances-can-help-future-proof-your-finances

Use it or lose it: how tax allowances can help future-proof your finances It’s important to make the most of tax opportunities to help achieve your goals

🎄🎄🎄🎄🎄🎄🎄🎄

🎅 With many thinking about presents at this time of year ( especially us mums)

🎅 You could also consider a financial gift, beneficial to the recipient & could also save you some tax.

Some gift options are

🎅 Junior ISAs

🎅 Children's Pensions

🎅 Cash gifts

{ I fully recognise this isn't an option for everyone}

Read here for more details of tax efficient gifts https://www.sjp.co.uk/news/tax-smart-gifts-you-can-give-your-family-this-christmas

Tax-smart gifts you can give your family this Christmas Consider giving financial presents to your loved ones this season

💥 Your retirement income might come from a combination of sources, including your pensions, tax efficient savings
💥 But how much do you need in your retirement pot?
💥 I love working through various situations with my clients and using Cash Flow Modelling to forecast what their financial future might look like and whether they are on track to achieve their financial goals or aspirations.
💥 Have you modelled out your financial future?

How much do you need in your retirement pot? Follow our guide to help you save enough for the retirement you want

💫 I get asked a lot about taxes so thought I would share this useful guide

💫 Understanding basic financial jargon can help to make sense of basic financial terms

💫 It is particularly useful to know what the basic acronyms mean such as ISAs, IHT, CGT and the different pension allowances

💫 As important is to keep track of the rules, as they change over time and what this means for you and your money

I am happy to answer any questions you may have, a conversation may help to get you back on your financial track.

The tax jargon buster From CGT to IHT, our simple guide will help you understand the most common tax terms

❓ How do you use visualisation
❤ I love visualisation it helps me with my goals and productivity in many aspects of my life
💰 I have a vision board for my business reminding me of my 'why' and what I am looking to achieve for my clients
🏡 Numerous mood boards and schemes helped me to survive the chaos of a full house renovation
👶 Hypobirthing visualisation was brilliant before and during the birth of our third child
❓ How does visualisation help your finances
🔆 Do you relate to hyperbolic discounting, when given the chance you would prefer a small perk now rather than a larger one later
👩‍🦳 It might be hard to imagine yourself older or focus on the negative aspects of age
✈ However by focusing on which hobbies and interests you'd pursue in retirement, helps you to 'see' this lifestyle and can be an effective way of getting into the mindset for saving towards it.
Read the full article here https://lnkd.in/gjdKwQW8

Meeting your long-term retirement goals: the power of visualisation It can be difficult to find the motivation to save and invest for retirement, but visualisation techniques used by elite athletes can help.

🔸 I speak to women every week who are worried about funding their retirement

🔸 The 'pension gap' between sexes means that women in their 60s retire with a pension a third smaller on average than those of men

🔸 Many factors contribute to this, lower income, time out raising a family or just not giving it enough attention

🔸 There are many different was to save for retirement but doing nothing isn't an option

🔸 The earlier you start planning and saving the better, but if you find yourself mid-career and unsure of whether you will have enough, all is not lost but you might have to do things differently.

🔸 Help your future self by looking at this as soon as you can

🔸 How does your retirement plan look?

What to do if you’re a woman over 40 and don’t have enough saved for retirement If you’re over 40 and haven’t got much of a pension, don’t despair. A comfortable retirement is still within your grasp

⚜ Congratulations to HSBC and the Scout Association for launching the money skills badge for 6-10 year olds.
⚜ Creating new & interesting ways for young people to engage with financial literacy is key.
⚜ Forming good money habits as a child will create happier, healthier adults.

https://lnkd.in/dknMPXr

Savings to bitcoin: cubs and beavers to launch badge for money skills Award aims to teach six- to 10-year-olds about finance as spending becomes increasingly digital

Investing can be an emotional process with even the most level headed investors finding themselves being swept up by the inevitable ups and downs of the market.

One of the best ways to make better decisions is to understand the psychology behind investing.

According to behavioural finance expert Daniel Crosby the most common mistakes ( biases) can be grouped into four categories ego, emotion, attention and conservatism.

1️⃣ Over-confidence ('Ego')

2️⃣ Letting feelings cloud your judgement ('Emotion')

3️⃣ Reacting to short-term noise ('Attention')

4️⃣ Playing it too safe ('Conservatism')

Is this something you relate to?

Read the full article here https://www.sjp.co.uk/news/how-understanding-your-emotions-can-make-you-a-better-investor

How understanding your emotions can make you a better investor No matter how rational we think we are, everyone is prone to letting emotions guide their decision-making. We recently spoke with behavioural finance expert Daniel Crosby, who revealed how understanding the psychology behind investing can help you to make better decisions.

☀ Checking out early to spend time out of the city with our 3 teenage children
❤ Who said wealth has to be all about money
❓ What do you have planned for the bank holiday weekend?

Women can lack confidence when it comes to money which can be due to their upbringing and emotional connections. This can have a big impact on their wellbeing, preventing financial independence and hindering their ability to plan for the future.

❓ How would you describe your relationship with money?

❓ Are you a spender, do you squirrel away money at the first opportunity?

❓ Have you inherited your view of money from your parents?

❓ Are your financial decisions fuelled by emotions, guilt, fear, boredom or keeping up with your social circle?

❓ Do you chat openly about money?

Recognising your relationship with money is the first step and then learning to talk about it with friends or a Financial Planner can help you to feel more empowered to make informed decisions and thus gaining financial confidence and wellbeing.

Helping women improve their financial confidence Some women say they don’t understand money. We look at why – and how they can empower themselves to make informed decisions for a more secure future.

Are you supporting your employees with Financial Education?

⭐ A key element of overall wellbeing is financial wellbeing but this is often overlooked or poorly supported due to lack of expertise.
⭐ Finances are the biggest source of concern for most people with 26% of us worried about money on an ongoing basis
⭐ The pandemic has exacerbated those financial stresses for many
⭐ Contrary to belief, financial worries can affect people whatever their level of income
⭐ Financial stress has an adverse impact on an individuals mental heath and therefore on their performance at work
⭐ Employers are often the first port of call when looking for support with financial wellbeing
⭐ A growing number of employers are looking at providing financial wellbeing programmes
⭐ The idea that a happy employee is a productive employee is one that few organisations would argue with

If you would like to know how I can support your organisation's financial wellbeing programme then I would be happy chat. Empowering your employees to make informed decisions about their finances is vital for their overall wellbeing.

Money matters: financial wellbeing in the workplace A clear workplace financial wellbeing strategy can boost mental health – and productivity

It is well established that women face barriers when it comes to gaining financial parity with men, given the gender inequality in pay, the workplace, pension & other areas, a challenge that has been made harder by the economic effect of the coronavirus pandemic which have had a disproportionate impact on women. that said,

🌟 The financial power of women is growing

🌟 For many women success is about freedom of choice & making a difference, which also requires being able to manage your money

🌟 Many women do not have the confidence to start investing, or don't think it's an option for them

🌟 It's never too late to learn how your money can translate into a meaningful plan for your future

🌟 Let's help each other by talking about money confidently, as something that is relevant to your long term happiness and security.

How to be part of the rise of women’s wealth How money confidence can help women to unlock their financial potential

DO YOU HAVE A RETIREMENT PLAN?

🌻 Many people have ideas of what they would like to do when they eventually retire

🌻 Do you have a financial plan to help make these dreams a reality?

🌻 Women in the UK retire at the age of 65 with a fifth of the savings of men

🌻 Women also live longer making it vital to make preparations to safe guard your financial future

🌻 Of course the sooner you start saving for retirement the better

🌻 Even if starting a bit late, having this plan will still be beneficial

Follow this link for retirement planning ideas https://www.sjp.co.uk/news/its-never-too-late-for-women-to-start-planning-for-retirement

It’s never too late for women to start planning for retirement Claire Blackwell, Director of Marketing at St. James’s Place, explains that the sooner you start, the more you stand to benefit.

💡 With the end of the the tax year almost here, we look at how business owners and the self employed can extract profits made in the most tax efficient way.

💡 There are several considerations to make depending on the options you choose

💡 This choice is personal as everyone's financial journey and situation is different

So what are the main ways that you can extract profits?

⭐ Take more salary

⭐ Pay extra pension contributions

⭐ Pay a dividend

Follow this link https://www.sjp.co.uk/news/what-is-the-most-tax-efficient-way-to-pay-yourself-with-company-profits to read some of the main considerations when deciding your options and a comparison table.

What is the most tax-efficient way to pay yourself with company profits? With the end of the tax year almost here, we look at how business owners and the self-employed can pay themselves from company profits.

WHICH IS MORE TAX-EFFICIENT: PENSIONS OR ISAS?
With just over two weeks to go until the end of the tax year, there is still time to use any unused allowances.
When deciding how to invest a few things to ask
❓ Can I have instant access
❓ How much can I pay in
❓ How much tax will I pay on it
❓ What tax relief is available on my contributions
❓ What happens when I die
Read the full articles here https://lnkd.in/gcrqkQj

Which is more tax-efficient: pensions or ISAs? Chancellor Sunak’s planned tax hikes make effective use of tax shelters for your money even more important.

IS A HOLIDAY HOME IN THE UK A GOOD SOURCE OF INCOME?
🍦 As buy-to-lets becomes more restrictive, furnished holiday lets, which are classified as businesses are enjoying greater investment appeal and come with attractive tax advantages.
🍦 COVID-19 has led to a rise in domestic holiday bookings and mortgage options, making it easier to find favourable lending rates and this is a trend that looks likely to continue into the future.
🍦 But before you buy, make sure you've considered everything from location and property type, to additional stamp duty cost and how your purchase fits into your long term financial plans.
Follow this link to read more https://lnkd.in/ghH_UNF

Is a holiday home in the UK a good source of income? Furnished holiday lets could be a better investment option than buy-to-let - here’s why.