2024 Archives - Hexagon Wealth Management https://www.hexagonwm.com/tag/2024/ Meaningful | Intentional | Financial Planning Mon, 20 Apr 2026 12:45:21 +0000 en-GB hourly 1 https://wordpress.org/?v=7.0 https://www.hexagonwm.com/wp-content/uploads/2021/08/Alextra-Mortgages-logo_favicon-01.svg 2024 Archives - Hexagon Wealth Management https://www.hexagonwm.com/tag/2024/ 32 32 December Newsletter – Pensions, Life Insurance, Budget changes and more https://www.hexagonwm.com/december-newsletter-pensions-life-insurance-budget-changes-and-more/?utm_source=rss&utm_medium=rss&utm_campaign=december-newsletter-pensions-life-insurance-budget-changes-and-more Wed, 11 Dec 2024 09:56:45 +0000 https://alextrawealth.co.uk/?p=2235 In this edition, you will find invaluable articles crafted to enhance your financial knowledge and strategy. Dive into the October Budget, uncover critical takeaways, and confidently prepare for 2025. Explore the concept of intergenerational wealth, master the skills to identify financial scams, and grasp the essential role of protection when taking out a mortgage.

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As a company committed to your financial well-being and planning, we are excited to present the latest edition of our client newsletter, designed to empower you on your financial journey. Our mission is clear: to provide you with essential insights and motivation that will turn your financial aspirations into reality.

In this edition, you will find invaluable articles crafted to enhance your financial knowledge and strategy. Dive into the October Budget, uncover critical takeaways, and confidently prepare for 2025. Explore the concept of intergenerational wealth, master the skills to identify financial scams, and grasp the essential role of protection when taking out a mortgage.

Each topic has been thoughtfully selected to equip you with the knowledge necessary for immediate and long-term financial success. This newsletter goes beyond theory; it’s brimming with practical guidance.  Our straightforward guidance ensures you feel not only informed but truly capable as you navigate your financial landscape.

Email: planningteam@hexagonwm.com

Telephone: 01270 250900

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]]> Autumn Budget 2024 – Summary of the announced changes https://www.hexagonwm.com/autumn-budget-2024-summary-of-the-announced-changes/?utm_source=rss&utm_medium=rss&utm_campaign=autumn-budget-2024-summary-of-the-announced-changes Mon, 04 Nov 2024 13:10:16 +0000 https://alextrawealth.co.uk/?p=2221 In presenting Labour’s widely anticipated first Budget in 14 years, the Chancellor was faced with a challenging task. See our handy summary for more details on the announcements.

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]]> Please find below our summary of the Autumn Budget delivered by the Chancellor, Rachel Reeves, on Wednesday 30 October.

In presenting Labour’s widely anticipated first Budget in 14 years, the Chancellor was faced with a challenging task. Following her announcement of a “black hole” in the public finances, the need to renew the Treasury’s coffers while maintaining Labour’s manifesto promises seemed a tall order.

In the event Ms Reeves outlined a programme of around £41 billion worth of tax increases over the next five years, alongside plans to rebuild tottering infrastructure, the health service, schools and more. Any idea of a return to austerity was quashed, but how this will be achieved is very much in the detail.

Among the key headline items were:

  • The main rate of class 1 employer national insurance contribution (NIC) will be increased from 13.8% to 15% from 6 April 2025.
  • The secondary threshold at which employer NICs are payable will be reduced from £9,100 to £5,000.
  • Main rates of capital gains tax increases with immediate effect to 18% for non and basic rate taxpayers and 24% for higher and additional rate taxpayers.
  • Inheritance tax (IHT) business and agricultural reliefs will be capped at a total of
    £1 million from April 2026.
  • Unused pension funds and death benefits will be included as part of an individual’s estate for IHT purposes from April 2027.
  • The additional SDLT charge for second homes and buy-to-let properties increases from 3% to 5% from 31 October 2024.
  • VAT of 20% will be applied to private school and boarding fees from 1 January 2025, while the charitable relief for English business rates will be withdrawn from 1 April 2025.
  • ISAs, Junior ISAs and Lifetime ISA limits will remain frozen until April 2030.
  • Fuel duty rates for 2025/26 will remain frozen and alcohol rates on certain draught beers will be cut.

As ever the Budget publications contained a wide range of detailed proposals and much to digest. Our Budget Summary highlights the key aspects likely to affect you. If you have any questions about what you should do next, please get in touch.

Telephone 01270 250900

Email: planningteam@hexagonwm.com

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