Our very own Chartered Financial Planner, Ed Marshall, recently joined Mark Elliott at BBC Radio Shropshire to discuss two topics currently dominating the headlines and many people’s financial thinking.
Firstly, the potential impact of the Iran conflict on global markets, and secondly, some simple financial planning opportunities people should consider before the new tax year begins.
When markets feel uncertain, it is natural to assume that the financial decisions ahead must be complex. However, as Ed explained during the discussion, the reality is often quite the opposite.
Many of the most valuable financial planning steps are surprisingly straightforward — yet they are frequently overlooked.
Simple financial wins many people miss
During the conversation, Ed and host Mark Elliott discussed several practical actions that could make a meaningful difference to people’s financial positions.
Using ISA allowances
With tax increasing on savings interest and dividends, and the capital gains tax allowance now reduced to £3,000, making full use of Individual Savings Account (ISA) allowances has become increasingly important.
ISAs allow investments and savings to grow free from income tax and capital gains tax, making them one of the most valuable tools available for long-term financial planning.
Making pension contributions
Pension contributions can also deliver significant tax advantages. In many cases, they can reduce a person’s adjusted net income, which may help to:
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Bring someone out of higher rate tax
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Avoid the High Income Child Benefit Charge
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Reinstate their personal allowance
These are powerful outcomes from a strategy that many people can implement relatively easily.
Making financial knowledge more accessible
Reflecting on the discussion, Ed highlighted something that often becomes clear during media conversations and client meetings alike.
“So much of this knowledge — things that can make a real difference to people’s financial futures — simply isn’t widely known or explained clearly enough.”
The steps discussed are not complicated strategies reserved for specialists. They are practical financial planning actions that many people could take today, if they simply knew about them.
That is why conversations like this matter.
Looking ahead: Thrifty Thursday
Ed will be returning to BBC Radio Shropshire with Clare Ashford on Thursday 23rd April at midday for another “Thrifty Thursday” segment.
The aim is simple: to continue breaking down financial topics into clear, accessible insights that help listeners better understand the decisions that can shape their financial futures.
Thinking about your own financial plan?
If you would like help making sense of your allowances, understanding tax opportunities, or building a clear long-term financial plan, our team at Deans Wealth Management would be delighted to help.
Get in touch with us to start a conversation about your financial future.
01785 238170
info@deanswealth.com
