Tag Archive for: financial services

Dominic Richmond

Autumn Budget 2022

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It’s been a couple of months since the now notorious mini budget or “fiscal event” which hastened the path to the exit door for Kwasi Kwarteng and in turn Liz Truss.

The new Chancellor Jeremy Hunt has taken a somewhat different approach following the “eye-wateringly difficult decisions” that he had been warning we were faced with.

Of course, these decisions will affect us all differently depending on our own individual circumstances.

Some of the key points:

  • The income tax personal allowance remains unchanged for the Basic and Higher rate brackets. These have, however, been frozen for a further 2 years meaning that more people will be pulled into paying more tax as wages increase.
  • The additional rate threshold has been reduced from £150,000 to £125,140 meaning that more people will now be paying the 45% rate.
  • The main national insurance thresholds also remain unchanged.
  • The annual personal allowance for tax free Capital Gains will reduce from £12,300 to £6,000 in April 2023 and then reduce further to £3,000 in April 2024.
  • The Dividend allowance will also reduce from £2,000 to £1,000 from April 2023.
  • Some good news for those in receipt of State Pension as the triple lock remains intact and so there will be an inflation linked boost to the payments.
  • With regard to energy costs, it was announced that the price guarantee will be kept for a further 12 months albeit at the cost of £3,000 per annum for the average household rather than the current £2,500.

Some of the above may have given you cause to review your own finances. It may be that you’d like to explore how to make your savings work harder for you or maybe retirement is on the horizon, and you need to review your pension arrangements.

For a free initial consultation to discuss how we may be able to help you plan your finances for the future  simply click on the “Speak to Our Experts” button on this page, call us on 01244 356 789 or email info@cullimoredutton.co.uk

Please note: This is not financial advice; it is intended to provide information of general interest about current issues.

Expansion of our in-house IFA team

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We’re delighted to introduce a new member of our IFA team.

David Gaweda joined us this month as an independent financial advisor. David, who lives in Ellesmere, Shropshire, has a wealth of experience and is the fourth IFA in our growing team.

Headed up by Dom Richmond, our in-house Cullimore Dutton financial services team offers support, guidance and expert financial advice.

Dom said: “We’re delighted to welcome David to our growing team of independent financial advisors. The combination of our legal and financial services enables us to provide a more comprehensive offering to our clients.”

David said: “It’s great to join the Cullimore Dutton team at such an exciting time with the new city centre office and the continuing expansion of the services the firm is able to offer clients.”

Unraveling Inheritance Tax

Unravelling Inheritance Tax

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Unravelling Inheritance Tax – a free guide

Download our free 12-page guide to Unravelling Inheritance Tax covering:

  • Inheritance tax: the basics
  • How marital status affects inheritance tax
  • The new Residence Nil-Rate Band
  • Leaving pensions as part of your estate
  • Making gifts to reduce an estate’s value
  • Setting up a trust
  • Taking out life insurance to pay inheritance tax

Click here to download your free copy

Helping you to understand inheritance tax and guide you through the process of estate planning.
Although often in the news, inheritance tax is still not widely understood. That’s worrying, because it affects thousands of families every year.

If you thought inheritance tax was just for extremely wealthy people to worry about, think again. Rising property prices have meant more estates than ever are likely to face an inheritance tax bill. In fact, the amount of inheritance tax collected has doubled over the last five years, and the number of estates paying inheritance tax has nearly tripled over the same period.

If your estate has an inheritance tax liability, your beneficiaries will have to pay the inheritance tax bill. This may not be the kind of legacy most people think of leaving behind.

The good news is that there are plenty of things you can do – in your lifetime – to take care of potential inheritance tax problems.

In this free guide, we set out some of your options in more detail to help you make an informed choice.

To download your free copy of our 12-page guide to Unravelling Inheritance Tax simply complete the form below:

Name

Please note: This is not legal advice; it is intended to provide information of general interest about current legal issues.

Our new Chester office

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We are delighted to announce that Cullimore Dutton will be moving in September.
Our lovely new Chester home will be in Newgate Street, close to the Roman Amphitheatre.
Our new office provides us with the modern, high-quality space we require to meet the needs of our clients and colleagues as we embark on the next chapter of our story.
The move also represents an important pillar of our own growth strategy.
This includes our ambition to be seen as the business of choice for your legal and financial requirements.
Our purpose as a business is very simple – We Change Lives.
We want to have an impact for the better for our clients, our colleagues, and the wider Chester community.
Relationships matter to us. We want our clients to receive the best possible client service and our staff to know that they can build successful careers with us.
We will keep you fully updated regarding our office move as our final plans take shape and will let you know as soon as we have a moving date.
We will also be regularly adding updates to our website and to our social media channels: LinkedIn, Facebook and Twitter.
Our new address will be: 27 Newgate St, Chester CH1 1DE and all of our contact details will remain unchanged.
We look forward to welcoming you to our new home in the near future but, in the meantime, you can be assured that the Cullimore Dutton team will continue to deliver the same high levels of client care.