News from Chesterton House

It's been a glorious summer so far, and I'm guessing it's likely you've at least considered a summer holiday if you've not already been on one. It's a wonderful time to spend with family, particularly while the schools are closed and the kids or grandkids are free, but does treating your family to a holiday, or giving them money for something else, such as a car, university fees or a wedding, have any tax implications? Our first article below gives you the answers.

This month we also share why it's never too early to speak with a Financial Planner in relation to exiting your business. Often the financial planning aspect of a business sale comes as an afterthought, but being prepared and knowing what you want life to look like after the sale could influence how you handle the preparation and negotiations along the way, sometimes many years in advance. 

When choosing a financial professional to work with, one question you're likely to want answered is "Will working with this person or firm actually make me better off?" In our third post, Chesterton House founder Andy Jervis discusses a new report that helps put a value on working with a financial adviser. You might be surprised by the various ways that an adviser will increase your wealth.

Our brilliant team are the people who deliver our service to you each and every day, and for many of them their work doesn't stop when our office closes. That's when they get out their study books and continue to build and demonstrate their knowledge by working towards professional qualifications. Our new 'Team News' section records some of their recent successes as well as personal news that they're happy to share. And don't miss our latest updates from the Chesterton House Foundation too.

I hope you enjoy reading this month's articles. If you have any good stories, recommendations for products, books, days out, or holiday destinations please do share them with me for a future newsletter.

Jenny

Marketing Manager

PS You can read all of our blog posts on our website at any time - just click to have a browse.

Can I Pay for Family Holidays or Give Them Money Without Worrying About Inheritance Tax?

Many people in retirement or semi-retirement want to help their family financially, and to do it in a way that makes financial sense. We often get asked whether helping with grandchildren’s costs or paying for a family trip could create an inheritance tax complication, so you’re not alone. The answer is, in many cases, it doesn’t have to.

IN CASE YOU MISSED IT

• Planning for Retirement: Am I Doing Enough?

• Beyond the Business: Building Wealth That Works for Your Life

• I’ve Got Pensions in Different Places… Now What?

• Financial Planning vs Financial Advice: What’s the Difference?

• Meeting Mary Baird, Author of Daisy’s Doings

From the team - matches, hatches and successes 

• Congratulations to Financial Planner Sam and his partner Demi on the arrival of their beautiful baby boy Finley.

• Welcome back to Administrator Georgia, who returned from maternity leave — and passed her R02 (Investment Principles & Risk) exam in the process.

• Financial Planner Joe, Paraplanner Michael and Paraplanner Rajvee all achieved the Level 6 Diploma in Advanced Financial Planning through either the CISI or CII. Michael and Rajvee also qualified for Chartered Financial Planner status, one of the highest level qualifications in the financial services profession.

• Well done to Administrator Kirsty for passing CII Life and Pension Foundations exams.

• Well done to Paraplanner Prentice on passing the CII J12 (Securities and Advice Dealing) exam.

There's a huge amount of work going on behind the scenes by our whole team to continually raise our standards and improve the advice we deliver to our clients daily.  Very well done guys, we really appreciate your dedication and commitment.

RECENT GRANT RECIPIENTS

Helen Carter is the CEO, and she is looking for a person to take on a valuable Trustee role at the Centre for a few hours each month. She says;

"We are keen to enhance our Trustee team with someone from a finance background to take on the role of Treasurer. We have a great team who do most of the work and we use Xero which has helped us enormously, but I am sure we could exploit its usefulness much further to simplify reporting and processes much more too.

We would be very happy to have a chat with anyone who may be interested before they committed to anything with us of course."

This isn't an overly demanding role but it could make a real difference to this very effective charity.

If you're interested in finding out more, or you know someone who would be ideal for the role, please contact Helen directly via email at helen.carter@loughboroughwellbeing.com.