Ten Things to Tick Off Your Financial To-Do List in 2025
Andy Wood • January 14, 2025
Ten Things to Tick Off Your Financial To-Do List in 2025
Introduction
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With the new year upon us, it’s time to set your financial house in order. The Autumn Budget 2024 introduced several tax changes that will come into effect this April, impacting a wide range of financial areas, from capital gains tax to non-dom rules. By proactively addressing these updates, you can optimise your financial position and safeguard your wealth. Whether you’re focused on tax planning, saving, or investment strategies, these ten tasks will ensure you’re on the right path.
1. Revisit and Revise Your Budget
The cost-of-living crisis continues to affect households across the UK, with inflation driving up the prices of essentials such as energy, food, and fuel. Revising your budget for 2025 is crucial. Take advantage of personal finance apps like YNAB
or Emma
to track spending, adjust to rising costs, and identify potential savings. Effective budgeting ensures you have a well thought out and clear plan for managing your finances throughout the year.
2. Maximise Your ISA Contributions
For the 2025/26 tax year, the annual ISA allowance remains at £20,000. This presents an excellent opportunity to shield your savings and investments from tax. Explore stocks and shares ISAs for growth potential or diversify into innovative Finance ISAs for tax-efficient returns. Planning early in the tax year allows you to take full advantage of these opportunities and make the most of compounding benefits.
3. Prepare for the April 2025 Tax Changes
From 6 April 2025, key updates from the UK tax system will take effect, including increased capital gains tax rates for higher earners and revised non-dom rules. Working with our tax adviser
is essential to navigate the changes that may be faced by non-UK residents and expats.
Whether you’re claiming reliefs, selling property, or reviewing offshore income, advance planning will save you time and money.
4. Consolidate Your Pension Pots
For those with multiple pension schemes, consolidating into a single platform can simplify retirement planning and reduce fees. Providers like PensionBee
make the process straightforward. However, it’s important to assess exit fees, tax implications, and the value of guaranteed benefits before consolidating. With changes to the lifetime allowance rules, 2025 is an opportune year to review your pension strategy.
5. Reassess Your Investment Portfolio
Market volatility and global economic uncertainty make 2025 an essential year to rebalance your portfolio. Review your asset allocation to ensure it aligns with your financial goals and risk tolerance. Exposure to global equities, green bonds, or alternative assets such as private equity or infrastructure may offer resilience and diversification. If you’re unsure where to start, seek advice from our investment advisers
who have experience in handling the ever changing market trends.
6. Set Defined Savings Goals
Establishing clear and actionable savings objectives is critical for both short-term and long-term financial success. Whether you’re building a house deposit, an emergency fund, or contributing to your retirement savings, automation is your ally. Setting up regular transfers into high-interest savings accounts or ISAs can keep you on track. Keep your goals specific and realistic, and review progress quarterly.
7. Protect Your Estate from Inheritance Tax (IHT)
The government’s recent announcements on inheritance tax changes make 2025 an important year for estate planning. Use strategies such as lifetime gifting, trusts, and IHT reliefs to minimise exposure and protect generational wealth. Seek guidance from our financial planners
to ensure your will, powers of attorney, and beneficiary designations reflect your wishes and take full advantage of the latest tax breaks.
8. Monitor Your Credit Score
A strong credit score is indispensable for securing favourable mortgage or loan rates. Services like Experian, ClearScore, or Credit Karma
provide free and regular credit checks, helping you identify errors or fraudulent activity. In 2025, focus on reducing debts, staying below credit utilisation thresholds, and making timely payments to bolster your score.
9. Review Insurance Policies
Life circumstances change, and so should your insurance coverage. Take time to review your life insurance, health policies, and home insurance to ensure they adequately reflect your current needs. Rising living costs mean rebuilding costs for homes have increased, so ensure your property insurance covers the true value of replacement.
10. Engage With Our Professional Financial Advisers
It can be difficult to understand UK tax law, budgeting, and investment opportunities. Our financial advisers
can give you tailored guidance, so that you can seize opportunities in areas like tax-efficient investments, estate planning, and retirement savings.
Final thoughts
Financial planning in the UK needs vigilance, adaptability, and a proactive approach. The key is preparation. Revisit your budget, adjust for upcoming tax changes, and seek professional advice.
Get in touch if you have any queries about this article or to speak to an experienced advisor.
If you’ve been hearing more about private banks, investment advisers, and wealth managers setting up shop in Dubai, you're not imagining it. Dubai has become one of the fastest-growing wealth hubs in the world, especially for British and European advisers. In the last year alone, over 60 new wealth management firms have opened offices in Dubai’s International Financial Centre (DIFC). But why is this happening, and what does it mean if you're a high net worth individual , entrepreneur, or investor living in the UAE? Why Dubai? Dubai offers something many wealth managers are now struggling to find elsewhere: a stable, tax-efficient , and business-friendly environment. While the UK has tightened its tax rules , especially for non-doms and those using trusts or complex structures, the UAE has continued to attract wealth with: 0% personal income tax No capital gains tax A strong legal framework under English common law (via DIFC) High quality of life and global connectivity For clients, this makes Dubai an appealing base. For wealth managers, it’s an opportunity they can’t ignore. What Wealth Managers Are Offering in Dubai With this surge in presence comes increased service availability for clients. If you're living in the UAE or spending part of the year here, you can now access: Discretionary investment management Estate and succession planning Family office services Tax-efficient structures and cross-border advice Advice on UK IHT (Inheritance Tax) and pensions These services used to be hard to find locally, but not anymore. Who's Coming to Dubai? The influx includes private banks and traditional discretionary fund managers, but also: Boutique investment firms Wealth tech platforms (offering digital tools for investing) Global tax advisers The DIFC now hosts more than 410 wealth and asset management firms, up from 350 the previous year. New entrants include British firms reacting to UK tax changes and seeking to serve their clients abroad. Why It Matters to UAE Residents If you’re based in the UAE, especially as a British expat or someone with international assets, this is a golden opportunity to get high-quality wealth advice locally. Key reasons to take action now: UK tax changes are affecting British expats Inheritance planning is more important than ever The local market now has more competition, which often leads to better client service You no longer need to fly to London or rely on Zoom calls to manage your finances; top-tier advice is available here in Dubai. Questions You Should Be Asking Is my current investment portfolio set up for UAE tax rules? How will UK inheritance tax apply to my estate? Should I structure assets through an offshore trust or foundation? Is my UK pension protected and efficient? Could I benefit from working with a local adviser who understands both the UAE and UK systems? Final Thoughts Dubai is no longer just a luxury destination or business stopover; it’s now a full-fledged global wealth centre. With top international firms setting up operations here, clients in the UAE now have access to world-class advice right on their doorstep. Whether you’re planning for retirement, protecting family wealth, or exploring new investment opportunities, this is a perfect time to act. At Mosaic Chambers Group, we specialise in helping UAE-based clients structure, grow, and protect their wealth. From inheritance planning to UK tax exposure, our team of dual-qualified advisers can offer practical advice with no jargon. Contact us today to book a confidential conversation with one of our experienced UAE wealth advisers.
We all think about the future, but how many of us feel confident about our retirement savings? In the UAE, that question is becoming more urgent. A new report shows that more people in the UAE, especially experienced employees and professionals, are asking for better, more personalised retirement planning. They don’t just want end-of-service benefits. They want flexibility, investment choices, and long-term financial security. This shift is important. It’s not just about pensions . It’s about how people feel about their jobs, their financial freedom, and their lives after work. What the Report Found The research, carried out by recruitment experts in the UAE, found that: Many mid-to-senior-level professionals now want a tailored approach to retirement savings. People are asking employers for more investment options, not just a lump sum at the end. There is a growing interest in structured retirement accounts, including schemes where employers contribute monthly, like pensions in the UK or US. It’s a signal that the typical end-of-service benefit (gratuity) may no longer be enough for the modern workforce. The Current Retirement Model in the UAE Right now, most private sector workers in the UAE receive an End-of-Service Benefit (EOSB). This is a lump sum based on how long you've worked for your employer and your final salary. But: It’s not invested, so the value doesn’t grow with time. You only receive it when you leave the company. If a company closes down or faces financial trouble, you may lose out. While the UAE has made improvements, such as introducing savings-style EOSB schemes, many companies still use the traditional model. Why Employees Are Asking for More Here are just a few reasons UAE professionals want better retirement planning: 1. Job Security Is Less Certain People change jobs more often than they used to. Relying on a lump sum after years of service isn’t practical for mobile careers. 2. Higher Earnings = Higher Expectations Professionals in sectors like tech, finance, and consulting are earning more, and they want retirement planning to match their income and ambitions. 3. Inflation and Cost of Living Even in a tax-free environment, the long-term cost of living matters. A static lump sum at the end of your career doesn’t keep up with real-world inflation. 4. More Global Workers Many people in the UAE have worked in multiple countries. They’re familiar with international pension schemes, and they want similar options here. What Are the Alternatives? Several companies and free zones in the UAE are already offering new models for retirement planning: Monthly savings schemes with employer contributions Access to regulated investment funds tailored to retirement Portable savings accounts that follow you between jobs Dubai International Financial Centre (DIFC) launched the DIFC Employee Workplace Savings (DEWS) Plan, which has been a model for reform. Other areas may follow suit. What You Can Do Whether your employer offers advanced schemes or not, you can still take control of your retirement plan: Start a private pension or regular investment plan with expert advice Set up a monthly savings goal, even if it’s small to start Ask your employer if they’re willing to make monthly contributions Consider tax and currency implications if you plan to retire abroad Final Thoughts The way people think about retirement in the UAE is changing, and fast. It’s no longer about waiting for a lump sum and hoping it’s enough. UAE residents want to invest, plan ahead, and build financial independence while they’re still working. If you're living and working in the UAE, the best time to plan for retirement isn't when you're 60. It’s now! We help people across the UAE, UK and other jurisdictions set up private pension plans, understand retirement investments, and structure savings that work whether you retire in Dubai, UK or move abroad. Speak to one of our advisers today for clear, practical help with your long-term planning.