Adams & Bowles Wealth Management Ltd

Along with the proposed changes to most “unused” pension benefits, the impending changes to Agricultural Property Relief and Business Property Relief have grabbed the headlines. The potential impact on the farming community has been so passionately felt that many have taken to protesting in Westminster in an attempt to get their concerns heard and stir sympathy and support with the public. OVERVIEW: 🚜 Without the benefit of agricultural property relief, inheritance tax can have significant implications for farm owners, potentially placing a financial burden on families looking to pass down rural properties and agricultural assets. 🚜 Thoughtful, informed estate planning with the benefit of advice from a financial adviser can help mitigate the effects of IHT, ensuring a smoother transition of agricultural property to the next generation. 🚜 Understanding, addressing and planning for potential inheritance tax liabilities is now especially important for farm owners. Read more on our website: https://lnkd.in/gqfjP7gD #farmers #agriculture #budget #agriculturalrelief

The Cost of Parenthood: Are You Financially Prepared? Raising a child to the age of 18 as a lone parent in the UK costs an average of £220,000—and that’s before considering extras like private school fees or university tuition.* At Adams & Bowles Wealth Management, we understand the importance of planning for your child’s future while balancing your own financial goals. From building a savings plan to creating investment strategies for education costs, we’re here to help you navigate this journey with confidence. The value of an investment with St. James’s Place will be directly linked to the performance of the funds selected and may fall as well as rise. You may get back less than the amount invested. Source: The Cost of a Child in 2023, cpag.org.uk, December 2023 #WealthManagement #FinancialPlanning #EducationCosts #Savings #InvestingForTheFuture

Scaling back or closing a business is challenging, but careful planning and consideration of the legal requirements can protect you and your employees. 1️⃣ Using reliable cash-flow data will provide early information on financial problems, so you can take steps to help avoid closure, or limit liabilities and protect your employees in the event of insolvency. 2️⃣ Ensuring you meet the legal responsibilities will protect both your business and employees. 3️⃣ Speaking to professionals such as financial advisors and accountants can help you get a better idea of where you stand, so you can take the best recourse. Read more: https://lnkd.in/dd_s_K2S

For businesses valued under £1 million: No immediate tax increase has been levied yet. However, from April 2025, you will be looking at a 4% rise in capital gains tax, significantly impacting your post-sale earnings. For businesses valued above £1 million: An extra 4% tax is already in effect on proceeds above this threshold, with the possibility of an additional £40,000 tax bill on the first million if you delay past April 2025. For many, it’s too late, but the looming April increase can add another layer of urgency. So should you sell? Read our latest blog to find out. https://lnkd.in/dmHT7uEZ #businessowners #business #postbudget #autumnbudget #budget

Here's the key facts from the Autumn budget: 🔸 Capital Gains Tax (CGT) has been increased with immediate effect to 18% for basic rate tax payers and 24% for higher and additional rate tax payers. 🔸 Business Asset Disposal Relief on disposals is raising to 14% in April 2025 and again to 18% the following year. 🔸 The Inheritance Tax (IHT) threshold freeze of £325k (or £500k if it includes a residence left to a direct descendant) has been extended to 2030, meaning that more estates will be drawn into the IHT regime. 🔸 Pension death benefits to be included in Inheritance Tax calculations and charges, proposed from April 2027. 🔸 Stamp Duty Land Tax has been increased for second homes from 3% to 5% with effect from 31 October 2024. 🔸 Increase in employer NI contributions from 13.8% to 15% alongside a drop in the threshold at which employers start to pay NI from £9,100 to £5,000. Read more here: https://lnkd.in/durx9Sgn The levels and bases of taxation and reliefs from taxation can change at any time and are dependent on individual circumstances. #autumnbudget #budget

Highlights from the Rugby Legends Gala Dinner at Kent Construction Expo where we took some of the Aylesford Bulls players, our sponsored rugby team. Thanks to speakers Joe Marler and Ben Kayser for your inspirational talks on teamwork, motivation and mental health. Kent Construction EXPO Aylesford Bulls Rugby Football Club Luke Adams DipFA Daniel Bowles

Highlights from the CAFC Trust's Annual Awards Ceremony where Adams & Bowles sponsored the Participant of the Year (Over 18) won by Marc Hawkins! 🏆 Charlton Athletic Football Club #CAFC #CACT #CAFCTrust #CharltonAtheltic #CharltonAthleticCommunityTrust

Statutory Sick Pay (SSP) is currently £116.75 per week and is paid your employer for up to 28 weeks. However if illness or injury causes you to take longer than that off work, you could run into difficulty keeping up with your bills, especially if you are your household's main breadwinner. Income Protection Insurance will pay out a benefit that is a proportion of your income (normally around 60%) if you had to take time off work due to an accident or serious illness. Source: bbc.co.uk, July 23 #protectionplanning #sickpay

What prompts people to seek financial advice or guidance, and when? ➡️ 48% seek financial advice to help them with a key milestone or life event. ➡️ 18% of those surveyed sought financial advice due to the cost-of-living crisis, rising to 24% of 18-34 year-olds. ➡️ 12% said a change in job status had triggered a need for financial advice or guidance. ➡️ 27% sought advice when their savings and investments had grown to a point where they thought they should. Our relationship with our money changes as we get older. Whatever the reason to start an advice journey, the Report makes clear that the type of advice you want, or that you need, depends on your age and life stage. Source: Opinium surveyed just under 12,000 UK adults nationwide in two polls between May and August 2024. Quotas and post-weighting were applied to the sample to make the dataset representative of the UK adult population. Quantitative data referenced in this chapter is sourced from the first poll, which had a total sample of 7,995 respondents. Survey included those aged 18-34 (1,940), 35-54 (2,654) and 55 and over (3,401).

Thank you to Churchill Square Business Centre where Amy attended the Kent Invicta Chamber of Commerce networking event on 17th September at Churchill Square! #networkingevent #businesscommunity #networking #businesspartnership