Talis Independent Financial Advisers

This is an example of why we advocate the ‘wait and see’ approach. After the Budget announcement at the end of October, a story surfaced in the media about pension savers who, panicked by media speculation about possible changes to rules around withdrawing tax-free lump sums, rushed to ‘beat the budget’ by drawing down money. Several media sources speculated that the current limit would be cut to £100,000. Current pension savers can withdraw a tax-free lump sum of 25% of their pension pot, up to £268,275. What happened? In this Budget, nothing changed. Now, some savers want to reverse their decision and cancel their tax-free withdrawal request. The problem is that not all pension providers will allow it, and some will only allow it if the whole amount is returned in full. As a result, there are a number of pension savers who have depleted their pension funds early for no reason, and now don’t know what to do about it. If you’d like to talk about your financial plans or need help to decide on your next steps if you’ve recently withdrawn money from your pension, get in touch using the link below:

If you are confident that you have enough funds, you can start to draw down your pension early in several different ways. It’s flexible, so can potentially support your income if you want to retire gradually – by initially cutting down your hours, for example. The most important step is to have a full picture of your income and outgoings now and understand what that will look like once you are retired. We have more information about shaping your retirement plans in our new blog 🔗👇

Wishing all our clients, friends, family and followers a wonderful Christmas. We hope you enjoy the break and have time to rest and recharge.

The autumn Budget has raised a lot of questions – and you can’t have missed the headlines around farmers’ protests. If you’re still unsure about how changes to Capital Gains Tax, Inheritance Tax and Stamp Duty might affect your financial objectives (and there are still some unanswered questions), talking to an IFA will help to make your position clearer, and give you confidence in your next steps.   Helping you to achieve your objectives is the single most critical part of what we do as IFAs so if you are unsure and want some guidance, get in touch using the link below:

Shortly after the Budget announcement at the end of October, a story surfaced in the media about pension savers who, panicked by media speculation about possible changes to rules around withdrawing tax-free lump sums, rushed to ‘beat the budget’ by drawing down money. Several media sources speculated that the current limit would be cut to £100,000. Current pension savers can withdraw a tax-free lump sum of 25% of their pension pot, up to £268,275. What happened? In this Budget, nothing changed. Now, some savers want to reverse their decision and cancel their tax-free withdrawal request. The problem is that not all pension providers will allow it, and some will only allow it if the whole amount is returned in full. As a result, there are a number of pension savers who have depleted their pension funds early for no reason, and now don’t know what to do about it. If you are in this position and would value the guidance of an experienced IFA, please do get in touch and we would be happy to assist.

An IFA can advise you on your different options, whether you want to give now, or as part of your estate. They’ll help you ensure you’ve included everything in your estate planning and that you’ve set up your donations in the most tax-efficient way. You might already have a particular charity or cause that you are keen to support. But we’re increasingly approached by clients who want to make a difference in their local community, asking for advice about how to find the right local charities to support to make a real impact where they live. Kent Community Foundation - UK (KCF) have been finding funding and supporting some of Kent’s smallest voluntary organisations for over 20 years – matching people who want to help with people who need the help, where even a modest amount of money can make a real impact. Setting up a charitable fund with KCF is an easy solution for people who want to give locally but don’t necessarily know where to start. Read more about Kent Community Foundation in our new blog:

How do you decide what to do with your money? At least £430 billion is sitting in cash, putting savers at risk of missing out on potentially higher returns from investments. A recent Barclays report highlights three key reasons why so many British savers hesitate when it comes to putting their cash into higher-performing investments: 1. Lack of knowledge 2. Lack of confidence  3. Fear of risk At Talis IFA, we build long-term relationships with our clients, helping them to make confident financial decisions that put them on the path to financial freedom. These long-term relationships we build with clients offer the opportunity to expand confidence in making financial decisions.  Want to find out how we can help you? You can find a Talis IFA here.

A lot of people don’t realise that an IFA is not just there to help you apply for a mortgage, set up a pension fund or help you with estate planning. We can also help you when things have gone wrong. Graham Lee has supported several clients recently whose lenders have gone as far as to take them to court to obtain a County Court Judgement (CCJ). He recognises that part of the problem is that many people simply aren’t familiar with the process, or the paperwork.  The paperwork isn’t always very clear.  People come to us with eviction notices, not fully understanding what is happening. In some cases, Graham has been able to halt the process long enough to give them time to sort out an alternative course of action. Whatever stage things have got to, we can talk you through the process so you fully understand the situation and what is likely to happen next. He is here to find ways to increase your options. If you’re concerned about your interest-only mortgage nearing the end of its term and would like to speak to an IFA about your options, remember, that the sooner you talk to them, the more options you are likely to have. You can get in touch via our website.

As we look towards the end of 2024 and the New Year, how focused are you on your financial goals?  If you want to make 2025 the year you take control of your financial future and make significant steps towards financial freedom in later life, it’s time to consider your 2025 goals. Here are our suggestions for your New Year’s financial resolutions: 1. Be clear about your current financial situation -  It's important to understand where you currently stand financially. Review everything: income, expenses, debts, and savings.  2. Set SMART goals - Specific, Measurable, Achievable, Relevant, and Time-bound. Vague resolutions like ‘save more money’ give you nothing to aim for, nothing to track, and are less likely to make a difference.  3. Create a budget - List all your sources of income, and identify all your fixed expenses. Once you have a clear idea of what’s left over you can allocate funds for variable expenses and savings.  4. Create a plan for your financial future - This is where the advice of an experienced IFA can begin to help.  While the numbers are important, we’ll first help you to build up a picture of what you want your life to look like in the future.  If you're looking for more plain English advice on setting financial goals, have a read of our recent blog. The link is below:

Even if you’re a first-time buyer, it’s worth applying early and securing a mortgage offer. Then if rates fall (within the term of your offer) you can change rates with the lender later. Mortgage offers are subject to conditions, and there’s usually an expiry date on your offer, after which you’ll have to re-apply, but working with an IFA can ensure that you don’t get caught out by the small print. You can contact one of our advisers using the link below: