Over the limit? Tax penalty!

Tax calculator and penHM Revenue & Customs have disclosed that since the 2007/8 tax year, 4,000 people have received tax bills averaging £50,000 as a result of having exceeded the lifetime allowance for pension savings. Most are assumed not to have realised that the limits have been progressively reduced.

With effect from 6 April 2014 the limit will be £1.25 million unless protection is obtained of a higher value of not more than £1.5 million.… Read the rest

A new deal for savers

Tax Free ISA investmentThe Chancellor’s 2014 Budget was designed to assist “the doers, the makers and the savers”, and it contained major and unexpected improvements to both pensions and savings.

Individual Savings Accounts are to be re-named New ISAs (‘NISAs’ – much nicer!) and all existing ISAs will become NISAs. As from 1 July 2014 the amount which can be invested is to be increased to £15,000 p.a. (from the current £11,520) and the range of permitted investments is to be increased.

Contributions … Read the rest

Q1 2013: News in brief….

The Chancellor of the Exchequer, the eurozone, unemployment & ‘gas fracking’!

Junior ISAs a boost when needed

Given current life expectancy, if everybody just handed down their family wealth to the next generation at death, hardly anyone would receive a financial boost until they were well into middle age.

ISA – use it or lose it!

Each year all UK residents aged 18 or over (16 for cash ISA) are given a new allowance but if unused, it is lost. With only a few weeks to go unti the deadline for ISA subscriptions to be used for 11/12 – please contact us today if you would like to discuss where best to invest using your ISA allowance.

Ed in the Metro – ethical funds

Ed was back in the press last week, this time talking with the METRO about the ethical fund industry. We took this story to the newspaper a few weeks ago and suggested they might be interested to hear about the top ten holdings of many ethical funds.

Double Dip Fever is Back….

The OECD believe that the long awaited ‘double dip’ will eventually show up next year, fuelled in no small part by the troubles in Europe and the rolling cuts by Mr Osborne and friends….

Tax-efficient savings and investments

Although there is a restriction on the permitted amount invested in tax-free products, a number of ways exist to make the most of this allowance.

Saving for the future

Shares and bonds are two of the main investment vehicles, so we’ve taken a quick look at the main reasons for considering either.

Cometh the hour, cometh the cuts…

Will you be taking to the streets in protest or adopt a more practical approach to surviving the ‘sober decade’? Here are just some of the key areas where your financial adviser can help and advise you.