September Financial Insights: Preparing for the Future
- Cosgrove Partners
- Sep 16
- 3 min read
As autumn’s golden hues settle in, our September financial insights offers a timely opportunity to recalibrate your financial plans. Strategic action now can unlock valuable tax relief, strengthen your retirement savings, and protect your legacy for future generations.
This Month’s Focus:
Pensions: Building a Solid Retirement Foundation
Retirement may feel distant, but the steps you take today shape your tomorrow:
Maximise your annual allowance
Contribute up to £60,000 (or 100% of earnings, if lower) and claim full tax relief. Don’t leave it until year-end.
Carry forward unused allowances
Tap into unused allowances from the past three years to boost this year’s contributions.
Review your investment strategy
Market volatility calls for a fresh look at your asset mix. Ensure it aligns with your risk tolerance and time horizon.
Check your State Pension record
Gaps in National Insurance contributions can reduce your entitlement. A quick review now can prevent future surprises.
Inheritance Tax Planning: Securing Your Legacy
Passing on wealth is both an act of care and strategy:
Annual gifting allowance
Gift up to £3,000 per year free of IHT. Unused allowance from last year can still be applied.
Regular gifts from income
Surplus earnings gifted regularly are immediately removed from your estate.
Trusts for flexibility
Trusts offer control over how and when heirs receive assets. Professional advice is essential to avoid tax pitfalls.
Business & agricultural reliefs
Owners of qualifying businesses or farmland may access up to 100% relief—significantly reducing IHT exposure.
Financial Planning for Business Owners: Balancing Growth and Wealth
Entrepreneurs juggle business ambitions and personal goals. Smart planning helps minimise tax and build personal wealth:
Tax-efficient remuneration
A strategic mix of salary, dividends, and pension contributions can reduce your overall tax burden.
Company pension contributions
Employer-paid pensions often receive more favourable tax treatment than direct income.
Protection policies
Key-person and shareholder protection policies safeguard your business—and your family—against unexpected events.
Exit planning
Whether a sale is imminent or years away, early preparation enhances valuation and ensures a smooth transition.
Lifestyle: Embrace September’s Fresh Start
Financial health matters—but so does enjoying life. September feels like a second New Year, minus the frost:
Set gentle goals
Restart your fitness routine, tackle that reading list, or revive a hobby.
Savour autumn flavours
Apples, pears, squashes, and blackberries abound. Think crumbles, stews, and warming teas.
Early festive planning
Start gift shopping now to ease December stress and spread the cost.
Enjoy the outdoors
Crisp, bright days are perfect for walks, bike rides, or weekend escapes before winter sets in.
Final Thoughts
September’s subtle energy makes it an ideal time to reset, review, and refocus. Whether you’re maximising pension allowances, organising your estate, aligning business and personal finances, or simply soaking up the season—thoughtful action now will pay dividends before the tax year closes.
Ready to tailor these strategies to your unique situation?
The Cosgrove Partnership stays current with personal finance trends and regulations through continuous education, industry research, and active participation in professional networks. By regularly attending seminars and workshops, as well as subscribing to leading financial publications, the team ensures they are well-informed about the latest strategies and tools available. This commitment to knowledge enables the firm to provide tailored saving and pension financial advice that aligns with each client's unique goals and circumstances, ultimately empowering clients to make informed decisions and achieve financial success.
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