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Financial Glossary

Key terms explained in plain English, no jargon, no complexity. We appreciate our industry uses a lot of financial ‘jargon’, which can make it difficult to decipher information and correspondence. In order to try to assist with this, we have created a glossary of many of the terms you may come across. If you would like further clarification on any of the definitions, or cannot find a particular term, we would be happy to assist further.

Tax Year

A period of time used for tax calculations. In the UK this starts on 6 April each year and finishes on 5 April the following year.

Trust

An arrangement whereby one person or persons (trustees) agree to take care of assets and to use those assets in particular ways for particular people (beneficiaries).

Trustee

A person appointed to manage and safeguard the assets of a trust.

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