October 2025 Newsletter | Cylchlythyr Misol Hydref 2025
1. The FCA (Financial Conduct Authority) announced recently that average pay-outs to victims of car finance mis-selling will likely be around £700, per agreement.
You do not need to use a claims management company or law firm to claim. If you believe you were mis-sold car finance, contact your lender to get the ball rolling on your case. You may be approved for compensation by your lender more quickly than if you wait for the FCA compensation scheme to launch next year.
2. Are you a director or have significant control of a limited company registered at Companies House? If so, you may have received emails explaining that 'identity verification' will be required from 18 November 2025 onwards.
This is a genuine request from Companies House (but be vigilant of potential copycat emails from fraudsters). The identity verification is very straightforward, especially if you have a driver's license and passport. Check with your accountant if you are unsure of the process.
3. Beware of social media influencers portraying themselves as financial advisors. Many will encourage followers to invest, despite not being qualified to give financial advice. Be aware that influencers may be paid to promote products. Always ensure you seek professional advice before making investment decisions. If it sounds too good to be true, it's a scam!
Ask Huw & Aled
Q: My husband and I are in our 70s and enjoying our retirement. We decided not to have any children of our own, and as my husband and I do not have any close family either, our time is spent with friends and in volunteering with charities. Where do you suggest we start when it comes to planning for inheritance tax?
A: A growing number of people do not have children and so when the answer to the question of "who will inherit your wealth" is not "the children", it takes more time to consider who you would like to receive what from your estate.
Do you have any cousins that you have lost contact with, but to whom you would like to leave a particular sum of money, or a treasured family heirloom? What about close friends who have been there through it all with you both? As you volunteer with charities, have you considered leaving a legacy to a charity of your choice?
In an article in the Financial Times, one individual had decided that "he would rather leave his portion of the family estate to a beer-brewing nun in Germany because he has enjoyed her produce over the years."
Your decision need not be so drastic, but you do have as many options as you wish. The important first step is to discuss this with your husband and to draw up a plan of action before meeting with a legal professional.
