Articles by Patrick Connolly

How much tax should I pay on my savings?

Tuesday, 19 February 2019 | Question and Answer

The first £1,000 of savings income for a basic-rate taxpayer and £500 for a higher-rate taxpayer benefits from a 0% income tax rate, as does the first £2,000 of dividend income.

Should my dad add me on the deeds to his house?

Tuesday, 29 January 2019 | Question and Answer

It is quite easy to put the deeds of your father’s house into your name. However, there are a number of potential pitfalls.

My husband retired early. Should he sign on or wait for his pension to mature?

Friday, 14 December 2018 | Question and Answer

What your husband has done is absolutely fine. If his health is particularly bad, he may be entitled to state benefits or even to access his Teachers’ Pensions scheme early without penalty through ill-health retirement.

How long do I need to keep my Isa paperwork for the taxman?

Wednesday, 21 November 2018 | Question and Answer

The conventional wisdom is that people should keep financial documents for six years. You can demand that the financial companies you have used send you copies of old documents for up to six years.

Is there a way I can cut my tax bill by transferring some earnings to my wife?

Wednesday, 07 November 2018 | Question and Answer

Following decisions made by the Scottish government, the income tax bands for those who live in Scotland are different from those who live in the rest of the UK.

How much will I get back if a platform goes bust?

Wednesday, 31 October 2018 | Question and Answer

The FSCS is the UK’s compensation scheme for customers of authorised financial services firms. It pays compensation if the firm is unable, or likely to be unable, to pay claims against it.

What redress is there if a financial adviser is wrong?

Friday, 28 September 2018 | Question and Answer

Many people need to take financial advice.

Can I buy and sell shares while keeping cash savings in a tax-free Isa?

Wednesday, 05 September 2018 | Question and Answer

Many platforms give lots of options for Stocks & Shares Isa investments, including offering a wide range of investment funds, and some allow individual shares to be bought and sold.

My partner is near retiring. Should she invest a large sum in a private pension?

Wednesday, 08 August 2018 | Question and Answer

The right approach for you and your partner will depend on your circumstances, financial goals and attitude to risk.

Does the tax-free savings allowance of £1,000 affect how much tax I pay when I cash in my unit trust?

Friday, 06 July 2018 | Question and Answer

I’m not sure what investment you hold but, based on your description, I don’t think you have a free-standing unit trust.