As we approach the Autumn Budget 2024, you may wonder how Labour’s approach will reshape the UK’s pension system. Under the leadership of Rachel Reeves, Labour’s shadow chancellor, and Sir Keir Starmer, Labour has hinted at several key changes. These … Read More
Author Archives: Janet Gogo
How Will the 2024 UK Tax Changes Impact My Finances?
The 2024 tax year brings significant changes to how taxes are calculated in the UK, and whether you’re an employee, business owner, or investor, these changes may affect your finances. Understanding the implications of these updates is essential to managing … Read More
How Much Can I Gift Each Year to Avoid Inheritance Tax?
One of the most important considerations when planning your estate is minimising inheritance tax (IHT) for your loved ones. Inheritance tax can significantly reduce the wealth passed on to your heirs, but with careful planning, there are ways to mitigate … Read More
Know Your Dosh Wins the 2024 Sage Small Business XI Award
We’re thrilled to announce that Know Your Dosh has won the Sage Small Business XI 2024 Award. This recognition is a significant milestone for us, and we want to share why this achievement is so important—not just for us, but … Read More
6 Simple Steps to Reduce and Manage Household Debt
Summary: Gain Clarity on Your Debt – List all outstanding debts, including amounts, interest rates, and due dates, to understand your financial obligations and identify areas to focus on. Implement Effective Repayment Strategies – Choose between methods like the snowball (paying off smallest debts … Read More
Assets vs Liabilities: What’s The Difference?
Summary: Assets Represent What You Own – Assets are valuable resources you possess, such as cash, property, or investments, which contribute positively to your net worth. Liabilities Represent What You Owe – Liabilities are financial obligations or debts, like loans … Read More
The Ultimate Guide to the Best Investment Options for Retirement in the UK
Retirement is a time to enjoy the fruits of your labour, but it requires careful planning and smart investments to ensure financial security. Whether you’re just starting your career or are nearing retirement, choosing the right investment options is crucial. … Read More
Can I Put My Home in My Children’s Name to Avoid Inheritance Tax?
Summary: Potential Tax Implications – Transferring your home to your children’s name may not effectively avoid Inheritance Tax (IHT) due to the “gift with reservation of benefit” rules, which can still subject the property to IHT if you continue to … Read More
How Much Can You Inherit From Your Parents Without Paying Inheritance Tax in the UK?
Inheritance tax is a topic that often stirs a mix of emotions—confusion, concern, and sometimes, frustration. In the UK, understanding the intricacies of inheritance tax can save you and your family significant stress and financial burden. In this blog post, … Read More
Are Money Management Apps Worth It?
Summary: Enhanced Financial Awareness – Money management apps provide users with a consolidated view of their finances, aiding in better understanding and control over spending and saving habits. Time and Effort Savings – Automation features, such as transaction categorisation and … Read More