Griffins Financial Solutions Limited is authorised and regulated by The Financial Conduct Authority. Griffins Financial Solutions Limited is entered on the FSA register under reference: 118099. The advice and/or guidance contained within this site is subject to the UK regulatory regime and is therefore targeted at customers based in the UK.

Universal reality check

Posted: Apr 09, 2021

The challenging reality for many people of having to make ends meet on benefits during the pandemic was further underlined by the widespread calls ahead of the Budget for the government to retain the ‘temporary’ £20 uplift to universal credit. This has now been extended for another six months and will be paid to the end of September.

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Budget Summary 2021

Posted: Mar 04, 2021

We are delighted to present our summary of the key announcements in the Budget 2021 statement, made on Wednesday 3 March.

The structure of this Budget, like its predecessor, was driven by the pandemic’s impact on the economy. With some form of lockdown continuing over the next few months, Mr Sunak extended the main employment support schemes through to 30 September and added further grants and loans to assist struggling businesses.

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Year End Financial Planning guide

Posted: Jan 25, 2021

Our guide to Year End Financial Planning 2020/21 brings you essential advice on how to prepare for your tax year end.

Planning this year is more difficult than usual with the cancellation of the November Budget and ongoing economic uncertainty due to the coronavirus pandemic. So, as the tax year-end approaches, it is more important than ever to make the most of your reliefs and allowances while they are still available.

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What could the proposed changes to CGT mean for you?

Posted: Jan 08, 2021

Recommendations by the Office of Tax Simplification (OTS) on the future shape of capital gains tax (CGT) could have a significant impact on investment, and the advice we provide.

The Government requested the OTS undertake a review of CGT in July with a particular focus on areas where the existing rules can distort taxpayer behaviour. The OTS report asks the Government to consider making changes which will have a significant impact on some investors.  It is therefore important that you understand what changes could be on the horizon.

The key proposals:

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State pension age now 66

Posted: Dec 18, 2020

From 6 October the state pension age has gone up to 66, for both men and women.

The age at which people qualify for this benefit has been gradually increasing over the past few years — and further increases are planned reflecting increased longevity. Now it is 66 for both sexes, although it will rise to 67 in stages between 2026 and 2028.

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Tax deadline in January

Posted: Dec 18, 2020

The clock is ticking for millions of taxpayers who need to file a self-assessment return for 2019/20 by 31 January.

The self-employed, those who are partners in a business, and those who receive an income from savings, investment or a buy-to-let property, are all expected to pay by the January deadline.

As well as completing an online return, savers must pay any tax due by this date. Those that miss this deadline face a £100 penalty, plus interest on the outstanding tax bill.  The tax relates to earnings from April 6 2019 to April 5 2020.

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Scams on the rise

Posted: Dec 18, 2020

Fraudsters preying on people’s financial and health fears have been responsible for a sharp increase in scams during the Covid-19 crisis.

Criminals are increasingly sending out fake emails or SMS texts disguised as a trusted body such as HMRC, a local council, TV licensing or even the NHS.  These messages may claim you are due a rebate or refund. In some cases people have been told they qualify for “Covid relief funds”.

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Savers feel pinch

Posted: Dec 18, 2020

Those looking for income from their savings face an uphill challenge, with banks and building societies making swinging cuts to the interest paid on leading accounts.

This latest round of rate reductions was started by National Savings & Investments (NS&I), which has imposed brutal cuts to some of its most popular accounts. The interest paid on its NS&I income bonds, for example, has fallen from 1.15% a month to just 0.01%. Returns on ISAs and Premium Bonds have also been squeezed.

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The pandemic retirement conundrum

Posted: Dec 18, 2020

Has Covid-19 disrupted your retirement plans?

The economic effects of Covid-19 stretch far beyond those people infected by the virus. The obvious example is the billions of pounds of government spending, but there are many others, such as the impact on those approaching retirement.  

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The importance of diversification

Posted: Dec 18, 2020

The pandemic has highlighted the value of holding a well-diversified portfolio of investments.

The Covid-19 pandemic has already taught us a great deal; and some people have been faced with relearning old lessons they may have forgotten. Global stock market performance has changed radically since February. While nearly all markets took a sharp downturn in February and the first three weeks of March, there has been a marked divergence in behaviour since then. The table below shows how differently the various main markets have performed.

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