The Financial Conduct Authority (FCA) has highlighted that thousands are at risk of financial harm or unnecessary tax bills. They state that since the new pension reforms were introduce in 2015 many savers are not taking independent financial advice. Large number of savers are opting for income drawdown plans when cashing in their pension funds. [...]
Launched in 2013 the Help to Buy mortgage scheme was meant to “help anyone who works hard and aspires to own their own home has that opportunity” So said the then economic secretary to the Treasury, Stephen Barclay. How does Help to Buy work. With the Help to Buy equity loan the government will lend you up [...]
Recent industry figure have shown that £1.25 billion has been borrowed in the first half of this year through equity release schemes. This amount is 34% higher than the same time last year. Equity release is for the over fifty five’s. The figures reveal that the average pensioner released over £70,500, using the money for [...]
Caroline was invited to an interesting event held at the Westminster Business Forum yesterday. The event was Chaired by Lord Northbrook and looked at ‘The future for financial advice and guidance – regulation and the role of technology’. These forums help to form government policy and allows the industry to give its views. The forum [...]
What is a trust? To start off with the technical stuff about a trust- A trust is legal arrangement which enables a person, known as “the settlor” to transfer the ownership of property, cash or shares to another person known as “the trustee” to hold on behalf of a third person known as the “the [...]
The best source of concise guidance on Individual Savings Accounts (ISA), is you Anstee & Co financial adviser, but here are the key areas for consideration: Use your full annual Individual Savings Account allowance if you can- you can’t carry it into the next tax year. Where possible, transfer existing investment's which are subject to tax on [...]
The best place for independent financial pension advice is from our advisers, but here are the key areas for consideration: Make full use of your annual tax-free pension allowance of normally £40,000. Use any unused annual pension allowances available to carry forward from previous tax years. Make sure you’re getting tax relief at the appropriate [...]
The sum paid out by equity release plans topped £2 billion for the first time last year, the Equity Release Council said. Equity release allows you to release a tax-free lump sum from the equity locked in your home. You can do this without having to move. The £2.15 billion lent was a third higher than [...]
The annual review of the Automatic Enrolment also known as Work Place pensions, earnings thresholds has now been completed. The government intends to lay an Order before Parliament in the New Year which will include the following, for 2017/18: £45,000 for the upper limit of the qualifying earnings band; £5,876 for the lower limit of the [...]
Average residential property has increased by 148% in value, compared to a 66% increase in pensioners’ incomes. House prices are now almost ten times the size of the average pensioner’s yearly income. Housing wealth also grows faster than other sources of pensioner income over a 20 year period House prices in England have grown [...]
