The Importance of Cash Protection As cash rates have been higher in the last few years, many people currently have larger sums of cash in banks and building societies. This increase in savings has led to a greater need for understanding how to protect those funds effectively. To keep in line with inflation, the Financial Services Compensation Scheme (FSCS) has increased the protection limit on deposits and/or savings within a UK authorised bank or building society to £120,000 from 01 December...

Despite all the speculation as usual, there were no seismic changes from a financial planning perspective. A quick summary of the main points to note is: 1. PENSIONS There are no changes to pension tax relief, tax free cash entitlement or annual allowances. 2. ISAs The annual allowance remains unchanged at £20,000 per individual each year until 2031, but for the under 65’s, there is now a limit of £12,000 that can be paid into a cash ISA. 3. INCOME TAX The income tax threshold freeze has...