Claire Melton FCCA TEP, specialist in capital taxes, trusts, estates and probate work at Stephenson Smart accountants has some advice to help you look forward with your finances in 2021.

As we look forward to 2021, we cannot take what we know and are used to for granted.

We are expecting many changes to our current tax regime in the spring Budget, to be held on 3 March.

It is more important than ever to review your current financial position regularly, especially to try and pre-empt any forthcoming changes. Your income or financial situation may have also changed dramatically due to the pandemic.

Provisions that you have currently may need to be changed so that you can be as prepared as possible for the future.

Questions you may need to ask yourself are:

What are my main sources of income? What are my income needs, now and in the future? What are my financial commitments? What are my plans and wishes for the future?

None of us like to think about what may happen if we are no longer here, but this year has shown us that changes to our health can be sudden and out of our hands. It is important to think about what will happen to your assets if the worst were to happen. Who would you be providing for and what would be their needs?

As I am a specialist in these areas, I am qualified and equipped to sit down with you and go through these questions to come up with solutions that will give you, and your loved ones, financial security and peace of mind.

You can contact Claire at our King’s Lynn office.

Claire Melton of Stephenson Smart

Did you find this insight useful?

Why not share online

More Insights from Stephenson Smart

  • Stephenson Smart raise £5,000 for East Anglian Air Ambulance

    16th December 2021

    Stephenson Smart raise £5,000 for East Anglian Air Ambulance

    A group of intrepid accountants have scaled mountains, run marathons and pushed themselves to their physical limits to help Stephenson Smart raise £5,000 for East Anglian Air Ambulance (EAAA). East Anglian Air Ambulance were the company’s chosen charity for 2021. ...

  • Martyn Benstead: Self Assessment tax return deadline

    16th November 2023

    The Self Assessment tax return deadline is looming…

    Martyn Benstead, partner at Stephenson Smart, explains the importance of being prepared as the Self Assessment tax return date looms. There’s never an ideal time to start thinking about your Self Assessment tax return, but my advice would be to ...

  • Outdoor recreation - Adventure racing

    6th April 2023

    Keen runners battle injury to complete equivalent of nearly six marathons

    Two experienced marathon runners have pushed themselves to their physical limits by running 142 miles while battling serious injury and a major medical setback. Firm friends Neil Gayton and Martyn Benstead took part in the Positive Steps Grand Slam, a ...

  • Mini Budget September 2022 – ‘A Plan for Growth’

    24th September 2022

    Mini Budget September 2022 – ‘A Plan for Growth’

    Considering the new Chancellor’s statement on ‘The Growth Plan’ was being dubbed by the media as a mini Budget, he managed to pack it with a stream of policy announcements. Kayleigh Wilson, Tax Manager at Stephenson Smart Accountants and Business ...

  • Outdoor recreation - Adventure racing

    6th April 2023

    Keen runners battle injury to complete equivalent of nearly six marathons

    Two experienced marathon runners have pushed themselves to their physical limits by running 142 miles while battling serious injury and a major medical setback. Firm friends Neil Gayton and Martyn Benstead took part in the Positive Steps Grand Slam, a ...