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    Trying to practice the preach

    In memory of the legend, here is a tale about Bradman, courtesy of James Kerr from his book “Legacy”. “Shepherd St Bowral, New South Wales Australia 1915 A small boy is playing cricket alone in a backyard. The sound of the ball on bat echoes over the neighbourhood, rebounding over ordinary weatherboard bungalows in an […]

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    Inherited ISAs

    It is now possible for a surviving spouse or civil partner to continue to enjoy the same tax free returns as their deceased spouse on their ISA funds. However, the surviving spouse does not automatically inherit their spouse’s ISA.  Irrespective of who the funds are left to, the surviving spouse applies for an Additional Permitted […]

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    Some myths about tax free cash

    As the popularity of drawdown continues at the expense of annuity purchase, the decision of how and when to take tax free cash is something that a growing number of retirees must face. In the new world of pension freedoms there are now opportunities available that were not possible to most people when they joined their pension.  Tax free […]

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    Stop the fraudsters

    The FFA (Financial Fraud Action) stated that impersonation and deception scams, as well as online attacks to compromise data, continued to be the primary drivers behind financial fraud losses in 2016. In all of these methods, criminals target personal and financial information, including card data, which is then used to facilitate fraud. What to look […]

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    Know your number

    If you won the lottery would you hand in your notice the next day? It’s a question that’s commonly asked. However, the real question is what is your number? Imagine a financial world with no mortgage, no children on the payroll, how much would you need to live on if you stopped work? We would […]

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    The Residence Nil Rate Band

    The new residence nil rate band became effective from 6th April 2017. The residence nil rate band is in addition to the standard nil rate band, which will remain frozen at £325,000 until April 2021.  The additional amount will be phased in starting at £100,000 and increasing by £25,000 a year until it reaches £175,000 […]

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    USE IT UP

    So Thursday 6th April 2017 was the start of the new fiscal year for 2017/18. With regard to your personal finances we have outlined the changes to the allowances: Income Tax and National Insurance The personal allowance has increased from £11,000 to £11,500. The threshold that you start to pay higher rate tax has increased […]

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    Mind the trap

    We’ve mentioned earlier that interest rates for residential mortgages have fallen. However there have been notional increases in rates for buy-to-let mortgages. Some individuals are becoming trapped with their buy-to-let mortgage due to changes in legislation. For those of you who have a buy-to-let (BTL) mortgage, just be aware that if you want to remortgage […]

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    2016/17 ISA Allowance

    You have until 5th April 2017 to utilise your ISA allowance for the current tax year or lose it. The maximum you can pay into an ISA for the current tax year is £15,240 and this can be split in any proportion between a Stocks and Shares and Cash ISA. Don’t forget you can also […]

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    2016/17 Pension Allowances

    Annual Allowance: £40,000 Annual Allowance for a Junior Pension: £3,600 Rate of Relief for Contributions: 20%/40%/45% Lifetime Allowance: £1m Tax Free Lump Sum (as a % of total pension savings): 25% Why invest in a pension? • It is a long term savings plan offering great tax advantages. • You receive tax relief on your […]

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