Smith & Pinching, Chartered Financial Planners

The APR and BPR inheritance tax cap for farms just moved from £1m to £2.5m.

If you own farmland, buildings, machinery or a farming business this changes your financial planning. Our latest article explains what qualifies and what doesn’t and what to do next.

Read more – https://loom.ly/wfz0eqY Get in touch with us on 01603 789966 if you want to talk it through.

What a fantastic afternoon last Thursday. We’re thrilled to share that the Smith & Pinching Treasure Hunt at Mr Postles raised an incredible £1,230 for The Smith & Pinching Charitable Trust.

Huge thanks to all the businesses from across Norfolk who entered teams, brought their competitive spirit and helped us raise money for charity. The clues were tricky, the weather (mostly) behaved and the team spirit was second to none.

Congratulations to Cozens-Hardy LLP on lifting the trophy. Watch this space for the next Treasure Hunt…

Is soft saving a good idea?

Gen Z’s latest money trend has landed in The Independent, and Smith & Pinching’s own Dan Browne was on hand to explain more.

“Soft saving” replaces aggressive saving for a more relaxed approach: pay for the essentials, automate a bit into savings and then spend the rest guilt-free on the things that matter now, like travel, experiences, etc. It’s the opposite of the “Financial, Independence, Retire, Early” (FIRE) approach and it’s particularly popular with a generation that’s grown up through a pandemic and a cost of living crisis.

Dan explains the appeal but also flags the risk. Read the full article here - https://loom.ly/jQk-m9E

Equity Release made simple

Your home could be more than just where you live, it could be an asset that works for you in retirement. Later life lending options like lifetime mortgages allow you to release the equity you've built up, without having to sell your home.

Want to find out how Smith & Pinching can help you? Get in touch today for a no obligation chat. 01603 786885 or email: [email protected]

Equity release will reduce the value of your estate and may affect your entitlement to means-tested benefits. A lifetime mortgage is a loan secured against your home.

Choosing a wealth manager shouldn’t be left to chance

Matt Beck, Chartered Financial Planner features in The Best of Living, sharing his advice on what really matters when selecting the right wealth manager. From checking the FCA register, to spotting the difference between a plan-led approach and a product led pitch.

Read the full article here - https://loom.ly/090dLO8

Base Rate held at 3.75%

No change from the Bank of England today – the base rate stays at 3.75%.

But the headline isn’t the whole story. With inflation easing to 2.6% in June, there are expectations that it will rise as higher energy costs feed through. Today’s 6-3 split suggests the debate inside the MPC (Monetary Policy Committee) is far from settled. With 3 members voting for a rise, lenders will be reading the statement closely and swap markets which drive fixed-rate mortgage pricing, can react immediately, even with no change to the headline rate.

In other words, “no change” at the Bank doesn’t always mean “no change” for mortgage rates.

If you’re considering a remortgage or nearing the end of a fixed rate deal, our team of mortgage advisers can talk you through what today’s decision means for you. Contact us on 01603 786885 or email: [email protected]

Our mortgage adviser, Lorna Hopes features in the national press sharing her insights on how higher mortgage rates are affecting not just first-time buyers, but households right across the market. Read the full article here - https://loom.ly/UfvcwmU

Our team spent the day volunteering at Norfolk Wildlife Trust Upton Broad, helping with scrub clearance to protect this precious fen habitat that the wildlife call home. S&P are proud Corporate Partners of NWT as we're committed to supporting conservation in Norfolk's wild spaces. Thank you to the NWT team for a great day.

Some clients come to us because they are planning for retirement. Others want to invest for the future or simply gain confidence that they are making the right financial decisions for them.

Whatever your goals are, finiancial planning starts with understanding what matters most to you!