(My Original Blog Post: http://www.consilium-ifa.co.uk/blog/investment-advice/uk-interest-rates-stay-at-0-5.php)
The Bank of England have confirmed that interest rates will remain at 0.5%.
Whilst this might be a good time for mortgage holders , the same cannot be said for savers.With savings rates at an all time low you are lucky if you can get 3% on bank based deposits. Savers relying on income may find that they are eating into capital to maintain their standard of living.
A useful resource is the website moneyfacts. They have a comprehensive list of the most current rates available.
An alternative is to look at investing in a broader range of assets such as Bonds, Fixed Interest and Gilts. This might help low risk savers to obtain a potentially better return, but there is a risk of capital depreciation. Although it is not possible to elimate risk from an investment portfolio it is possible to reduce the level of risk with an investment. A carefully constructed investment portfolio can help savers to maintain their level of income , whilst taking a cautious approach to investing.
To find out more about investment advice and how to get a better return on your savings why not contact us.
Consilium Asset Management are Independent Financial Advisers based in chipping Sodbury, Bristol, South Gloucestershire.
Thursday, 8 April 2010
[Blog] UK interest rates stay at 0.5%: The Bank of England have confirmed that interest rates will remain at 0.5%.
Whilst this might be a good time for mortgage holders , t... http://www.consilium-ifa.co.uk/blog/investment-advice/uk-interest-rates-stay-at-0-5.php
Whilst this might be a good time for mortgage holders , t... http://www.consilium-ifa.co.uk/blog/investment-advice/uk-interest-rates-stay-at-0-5.php
[Blog] UK interest rates stay at 0.5%: The Bank of England have confirmed that interest rates will remain at 0.5%.
... http://www.consilium-ifa.co.uk/blog/investment-advice/uk-interest-rates-stay-at-0-5.php
... http://www.consilium-ifa.co.uk/blog/investment-advice/uk-interest-rates-stay-at-0-5.php
Wednesday, 7 April 2010
Self invested personal pension
It's a new tax year and the 50% tax rate has just kicked in.
If you're earning over £130,000 your next pay packet will probably give you a shock.
One way to make use of tax efficient investment opportunities is to use pensions as a form of retirement planning. For example a self invested personal pension ( also known as a SIPP) will allow you to construct an investment portfolio that you can tailor to meet your investment objectives. Pensions contributions attract tax relief and the funds once invested grow in a tax efficient manner.
Any income that you take however is taxable as income , part from any tax free cash you might be entitled to.
A sipp can also be used to help plan post retirement as you can use it to take unsecured income rather than purchasing an annuity. Additionally if your religious belief prevent you from purchasing an annuity, at the age of 75 you can continue to take an income in the form of alternatively secured pension benefits.
If you would like to find out about our pension advice service please feel free to contact Consilium Asset Management , or alternatively visit our website at www.consilium-ifa.co.uk .
This article should not be construed as advice. For specific advice on your own personal circumstances please contact us.
If you're earning over £130,000 your next pay packet will probably give you a shock.
One way to make use of tax efficient investment opportunities is to use pensions as a form of retirement planning. For example a self invested personal pension ( also known as a SIPP) will allow you to construct an investment portfolio that you can tailor to meet your investment objectives. Pensions contributions attract tax relief and the funds once invested grow in a tax efficient manner.
Any income that you take however is taxable as income , part from any tax free cash you might be entitled to.
A sipp can also be used to help plan post retirement as you can use it to take unsecured income rather than purchasing an annuity. Additionally if your religious belief prevent you from purchasing an annuity, at the age of 75 you can continue to take an income in the form of alternatively secured pension benefits.
If you would like to find out about our pension advice service please feel free to contact Consilium Asset Management , or alternatively visit our website at www.consilium-ifa.co.uk .
This article should not be construed as advice. For specific advice on your own personal circumstances please contact us.
Consilium launch risk rated funds
(My Original Blog Post: http://ping.fm/CjKvD)
We have recently reviewed how ifa's recommend investment funds.
Following a number of months research we have launched a range of risk rated portfolios for our clients.
Our aim was to produce a low cost range of investment portfolios that can be used in a wide range of products such as pensions, isas, collective investments and lump sum investment bonds.
The ten portfolios are rated from low risk to high risk. Each portfolio is rebalanced each quarter to maintain the ideal investment split.
A combination of passive and active investments are used within each portfolio.
If you would like to find out more about our range of risk rated portfolios please contact us.
Consilium Asset Management provide investment management in Bristol
We have recently reviewed how ifa's recommend investment funds.
Following a number of months research we have launched a range of risk rated portfolios for our clients.
Our aim was to produce a low cost range of investment portfolios that can be used in a wide range of products such as pensions, isas, collective investments and lump sum investment bonds.
The ten portfolios are rated from low risk to high risk. Each portfolio is rebalanced each quarter to maintain the ideal investment split.
A combination of passive and active investments are used within each portfolio.
If you would like to find out more about our range of risk rated portfolios please contact us.
Consilium Asset Management provide investment management in Bristol
[Blog] Consilium launch risk rated funds: We have recently reviewed how ifa's recommend investment funds.
Following a number of months research we have launched a range of ... http://ping.fm/bWlpN
Following a number of months research we have launched a range of ... http://ping.fm/bWlpN
[Blog] Consilium launch risk rated funds: We have recently reviewed how ifa's recommend investment funds.
Follow... http://ping.fm/aFyKc
Follow... http://ping.fm/aFyKc
Wednesday, 31 March 2010
Time to review your will?
(My Original Blog Post: http://ping.fm/84EGu)
Don t leave your beneficiaries with additional heartache and hassle.
People who pass away without an up to date will, or intestate, leave costs and worry to their family and often gift lots of money to the State in what may be avoidable Inheritance Tax (IHT).
The Law Society says that anyone with assets and family or friends should make a will, no matter of their age. It is especially important if you are not married to your partner, because the law does not accord partners the same rights automatically of inheritance as spouses.
Property that is owned jointly by unmarried partners on a joint tenancy basis would still pass automatically to the existing spouse under the rules of survivorship. Under the current intestacy rules, an unmarried partner has no rights to property and assets that were not jointly owned (although the Law Commission has lately proposed to change this).
Making a will is also critical if you have children, as you can propose guardians to look after them.
It is vital to produce a list of assets and debts and their approximate values. Include your properties, investment, nest egg, insurance policies and pensions.
In addition, consider details of specific bequests. Just informing a relative that an item will be his or hers one day could cause problems later.
You should take professional advice on estate planning as part of writing your will. Simple steps could save the beneficiaries of more well-to-do householders thousands of £'s in tax.
An important element of affecting a will is the naming of executors to make sure that your will instructions are executed.
You should also review your will every 5 years or so and whenever your situation are altered by a substantial life event, such as marriage, divorce or a birth or death in the immediate family. Another instance would be after a house purchase or move.
Whoever draws up your will, make sure one copy is kept secure or deposit 1 with a probate registry.
To find out more about our will writing service please go to our website
Don t leave your beneficiaries with additional heartache and hassle.
People who pass away without an up to date will, or intestate, leave costs and worry to their family and often gift lots of money to the State in what may be avoidable Inheritance Tax (IHT).
The Law Society says that anyone with assets and family or friends should make a will, no matter of their age. It is especially important if you are not married to your partner, because the law does not accord partners the same rights automatically of inheritance as spouses.
Property that is owned jointly by unmarried partners on a joint tenancy basis would still pass automatically to the existing spouse under the rules of survivorship. Under the current intestacy rules, an unmarried partner has no rights to property and assets that were not jointly owned (although the Law Commission has lately proposed to change this).
Making a will is also critical if you have children, as you can propose guardians to look after them.
It is vital to produce a list of assets and debts and their approximate values. Include your properties, investment, nest egg, insurance policies and pensions.
In addition, consider details of specific bequests. Just informing a relative that an item will be his or hers one day could cause problems later.
You should take professional advice on estate planning as part of writing your will. Simple steps could save the beneficiaries of more well-to-do householders thousands of £'s in tax.
An important element of affecting a will is the naming of executors to make sure that your will instructions are executed.
You should also review your will every 5 years or so and whenever your situation are altered by a substantial life event, such as marriage, divorce or a birth or death in the immediate family. Another instance would be after a house purchase or move.
Whoever draws up your will, make sure one copy is kept secure or deposit 1 with a probate registry.
To find out more about our will writing service please go to our website
[Blog] Time to review your will?: Don t leave your beneficiaries with additional heartache and hassle.
People who ... http://ping.fm/pKjX8
People who ... http://ping.fm/pKjX8
Tuesday, 30 March 2010
[Blog] : Wherever you are with your retirement plans, do not be put off from taking action, it s not too late. There are still steps you can put into place to increase the pen... http://ping.fm/lEuML
[Blog] : Wherever you are with your retirement plans, do not be put off from taking action, it s not too late. Ther... http://ping.fm/5s7L2
Monday, 29 March 2010
Is it time to review your IHT planning
(My Original Blog Post: http://ping.fm/VoMdB)
If you have an investment or property portfolio, perhaps its time to review your estate. The Chancellors recent announcement to hold the threshold for Inheritance tax planning at £325,000, for the next four years may prompt the move.
Alistair Darling’s decision not to raise the IHT limit is expected to encourage many families and investors with assets over the threshold to review their situation.
Assets such as investments and property could possibly increase in value over the next few years. Effective tax planning could help offset the possible increase in Tax.
Making regular gifts to heirs is another way of reducing your estate liability to inheritance tax.
Another planning measure is making charitable donations, as these are fully exempt upon death.
After the first £325,000 in value of your estate called the “nil-rate” band is reached, the balance is taxed at 40 per cent.
If you would like to discuss any specific tax planning issues please contact us.
Consilium Asset Management is an IFA practice based in Bristol, South Gloucestershire.
If you have an investment or property portfolio, perhaps its time to review your estate. The Chancellors recent announcement to hold the threshold for Inheritance tax planning at £325,000, for the next four years may prompt the move.
Alistair Darling’s decision not to raise the IHT limit is expected to encourage many families and investors with assets over the threshold to review their situation.
Assets such as investments and property could possibly increase in value over the next few years. Effective tax planning could help offset the possible increase in Tax.
Making regular gifts to heirs is another way of reducing your estate liability to inheritance tax.
Another planning measure is making charitable donations, as these are fully exempt upon death.
After the first £325,000 in value of your estate called the “nil-rate” band is reached, the balance is taxed at 40 per cent.
If you would like to discuss any specific tax planning issues please contact us.
Consilium Asset Management is an IFA practice based in Bristol, South Gloucestershire.
[Blog] Is it time to review your IHT planning: If you have an investment or property portfolio, perhaps its time to review your estate. The Chancellors recent announcement to ... http://ping.fm/9vC9E
[Blog] Is it time to review your IHT planning: If you have an investment or property portfolio, perhaps its time to... http://ping.fm/3E1T0
Friday, 26 March 2010
Slight increase to ISA allowances
(My Original Blog Post: http://ping.fm/voggF)
In the recent Budget the Chancellor announced that the ISA allowance is to increase by inflation each year.
Cash ISAs currently offer poor rates of interest however they protect investors from market fluctuations, but not inflation.
The ISA allowances have recently increased as a result of the last pre budget. The allowance moved from £7,200 a year to £10,200 with half of this amount being in cash.
The announcement will add to this by increasing the allowance each year in line with inflation.
The change will be effective from 06 April 2011.
‘The ISA is and should remain the key non-retirement savings vehicle for all. We therefore welcome the government's announcement that the limit will increase each year in line with inflation,’ said Richard Saunders, chief executive of IMA.
In the recent Budget the Chancellor announced that the ISA allowance is to increase by inflation each year.
Cash ISAs currently offer poor rates of interest however they protect investors from market fluctuations, but not inflation.
The ISA allowances have recently increased as a result of the last pre budget. The allowance moved from £7,200 a year to £10,200 with half of this amount being in cash.
The announcement will add to this by increasing the allowance each year in line with inflation.
The change will be effective from 06 April 2011.
‘The ISA is and should remain the key non-retirement savings vehicle for all. We therefore welcome the government's announcement that the limit will increase each year in line with inflation,’ said Richard Saunders, chief executive of IMA.
[Blog] Slight increase to ISA allowances: In the recent Budget the Chancellor announced that the ISA allowance is t... http://ping.fm/aGsAv
ISA surgery, use it or lose it
(My Original Blog Post: http://ping.fm/cZBdy)
If you have not already talked to us about using your 2009/10 Individual Savings Account (ISA) allowance, time is running out. Any unused ISA allowance from this current tax year cannot be rolled over to the next tax year and will be lost forever.
An ISA is a tax-efficient wrapper in which you can hold investments such as cash, shares and stock market funds.
ISAs can be used to save cash and the interest will be tax-free. If you invest in shares or funds, any capital growth will be tax-free and there is no further tax to pay on any dividends you receive.
Your ISA questions answered
Q: Since the ISA contribution limit changes, how much can I now invest?
A: If you were born on or before 5 April 1960 (that is, aged 50 or over during the current tax year) you can save up to £10,200. The full £10,200 can be invested in a stocks and shares ISA with one provider or up to £5,100 can be saved in a cash ISA with one provider, with the remainder being saved in a stocks and shares ISA with either the same provider or another. From 6 April this year, the under 50’s ISA limit will increase to £10,200, up to £5,100 of which can be saved in cash for all ISA investors.
Q: Can I invest the full £10,200 in a cash ISA?
A: No. Although ISA limits have been extended, there are still separate limits for cash ISAs and stocks and shares ISAs. The maximum amount you can save in a cash ISA if you are over 50 is £5,100. If you are under 50 the current limit remains at £3,600. However, from 6 April 2010 this will increase to £5,100 for everyone.
Q: Can I save in a cash ISA and also invest in a stocks and shares ISA at the same time?
A: The limits may have changed but the principle behind ISAs remains the same. From 5 October last year, if you were saving the maximum amount allowable in a cash ISA, at the same time you could also invest the rest of your allowance in a separate stocks and shares ISA – up to the permitted limits.
Q: I am over 50 and have already taken out an ISA this year. Will I be able to increase my ISA?
A: In the vast majority of cases you should be able to pay more into your ISA, up to the new limits. If you already have £3,600 saved in your cash ISA, you should be able to increase this by a further £1,500.
If you would like to discuss Isa Investments in more depth please feel free to contact us on 01454 321511.
If you have not already talked to us about using your 2009/10 Individual Savings Account (ISA) allowance, time is running out. Any unused ISA allowance from this current tax year cannot be rolled over to the next tax year and will be lost forever.An ISA is a tax-efficient wrapper in which you can hold investments such as cash, shares and stock market funds.
ISAs can be used to save cash and the interest will be tax-free. If you invest in shares or funds, any capital growth will be tax-free and there is no further tax to pay on any dividends you receive.
Your ISA questions answered
Q: Since the ISA contribution limit changes, how much can I now invest?
A: If you were born on or before 5 April 1960 (that is, aged 50 or over during the current tax year) you can save up to £10,200. The full £10,200 can be invested in a stocks and shares ISA with one provider or up to £5,100 can be saved in a cash ISA with one provider, with the remainder being saved in a stocks and shares ISA with either the same provider or another. From 6 April this year, the under 50’s ISA limit will increase to £10,200, up to £5,100 of which can be saved in cash for all ISA investors.
Q: Can I invest the full £10,200 in a cash ISA?
A: No. Although ISA limits have been extended, there are still separate limits for cash ISAs and stocks and shares ISAs. The maximum amount you can save in a cash ISA if you are over 50 is £5,100. If you are under 50 the current limit remains at £3,600. However, from 6 April 2010 this will increase to £5,100 for everyone.
Q: Can I save in a cash ISA and also invest in a stocks and shares ISA at the same time?
A: The limits may have changed but the principle behind ISAs remains the same. From 5 October last year, if you were saving the maximum amount allowable in a cash ISA, at the same time you could also invest the rest of your allowance in a separate stocks and shares ISA – up to the permitted limits.
Q: I am over 50 and have already taken out an ISA this year. Will I be able to increase my ISA?
A: In the vast majority of cases you should be able to pay more into your ISA, up to the new limits. If you already have £3,600 saved in your cash ISA, you should be able to increase this by a further £1,500.
If you would like to discuss Isa Investments in more depth please feel free to contact us on 01454 321511.
[Blog] ISA surgery, use it or lose it: If you have not already talked to us about using your 2009/10 Individual Savings Account (ISA) allowance, time is running out. Any unuse... http://ping.fm/e9r3o
[Blog] ISA surgery, use it or lose it: If you have not already talked to us about using your 2009/10 Individual Sav... http://ping.fm/vEkb0
Thursday, 25 March 2010
Record amounts paid into investment funds last year
(My Original Blog Post: http://ping.fm/G8fX5)
Many savers turned their back on high street deposit accounts last year as new figures show a record year for investments.
According to figures from The Investment Management Association (IMA), a record amount was paid into investment funds last year. Consumers invested £25.8bn in unit trusts and open-ended investment companies (OEICs), types of investments that allow individuals to pool money together to buy stocks and bonds.
The figures are the highest since records began in 1992 and 45 per cent higher than the previous record set in 2000, when new investments totalled £17.7bn.
An IMA spokeswoman said: ‘A combination of factors led to this significant increase in 2009. Low returns on savings accounts caused people to look at putting their money into other assets. At the same time, the recession caused them to increase their savings levels.’
In total, £9.9bn was invested in bonds during the year, while £7.3bn went into shares, compared to 2008, when people withdrew £1.3bn more from equities than they invested.
The increase in investments, combined with strong stock market growth during the year, also helped to push up the value of funds under management to record levels.
Many savers turned their back on high street deposit accounts last year as new figures show a record year for investments.According to figures from The Investment Management Association (IMA), a record amount was paid into investment funds last year. Consumers invested £25.8bn in unit trusts and open-ended investment companies (OEICs), types of investments that allow individuals to pool money together to buy stocks and bonds.
The figures are the highest since records began in 1992 and 45 per cent higher than the previous record set in 2000, when new investments totalled £17.7bn.
An IMA spokeswoman said: ‘A combination of factors led to this significant increase in 2009. Low returns on savings accounts caused people to look at putting their money into other assets. At the same time, the recession caused them to increase their savings levels.’
In total, £9.9bn was invested in bonds during the year, while £7.3bn went into shares, compared to 2008, when people withdrew £1.3bn more from equities than they invested.
The increase in investments, combined with strong stock market growth during the year, also helped to push up the value of funds under management to record levels.
[Blog] Record amounts paid into investment funds last year: Many savers turned their back on high street deposit accounts last year as new figures show a record year for inves... http://ping.fm/9kcrb
[Blog] Record amounts paid into investment funds last year: Many savers turned their back on high street deposit ac... http://ping.fm/8qKvq
[Blog] No change for IHT and CGT: The budget as expected was a bit of a damp squibb. With the state of the public finances it’s no surprise that yesterdays budget has been d... http://ping.fm/Ce7y2
No change for IHT and CGT
(My Original Blog Post: http://www.consilium-ifa.co.uk/blog/financial-news/no-change-for-iht-and-cgt.php)
The budget as expected was a bit of a damp squibb. With the state of the public finances it’s no surprise that yesterdays budget has been described as boring.
One surprise was that CGT has not been altered
The rate of tax for mainstream CGT remains at 18% and the annual exempt amount of £10,100 remains unchanged. This means that higher rate taxpayers that have assets that could potentially be subject to CGT will for the time being remain unaffected. Whether this will be the case after the election, we will have to wait and see. However if a labour government is re-elected I would not be surprised if a new budget is announced in the next term of Parliament and changes are then announced.
If you are a higher rate taxpayer with substantial capital gains for example on property or collective investments, it might be worth seeking advice on your tax position.
Inheritance Tax
The 2009 Pre-Budget Report announced that legislation will be introduced in Finance Bill 2010 to freeze the IHT nil-rate band limit for the tax year 2010/11 at the current level of £325,000. This will now be extended to cover the tax years 2011/12 to 2014/15.
However a review on Inheritance tax and Estate planning has been pencilled in for 2011. How this will affect existing Tax planning strategies ,we will have to wait and see.
The budget as expected was a bit of a damp squibb. With the state of the public finances it’s no surprise that yesterdays budget has been described as boring.
One surprise was that CGT has not been altered
The rate of tax for mainstream CGT remains at 18% and the annual exempt amount of £10,100 remains unchanged. This means that higher rate taxpayers that have assets that could potentially be subject to CGT will for the time being remain unaffected. Whether this will be the case after the election, we will have to wait and see. However if a labour government is re-elected I would not be surprised if a new budget is announced in the next term of Parliament and changes are then announced.
If you are a higher rate taxpayer with substantial capital gains for example on property or collective investments, it might be worth seeking advice on your tax position.
Inheritance Tax
The 2009 Pre-Budget Report announced that legislation will be introduced in Finance Bill 2010 to freeze the IHT nil-rate band limit for the tax year 2010/11 at the current level of £325,000. This will now be extended to cover the tax years 2011/12 to 2014/15.
However a review on Inheritance tax and Estate planning has been pencilled in for 2011. How this will affect existing Tax planning strategies ,we will have to wait and see.
[Blog] No change for IHT and CGT: The budget as expected was a bit of a damp squibb. With the state of the public f... http://ping.fm/mWNsa
Wednesday, 10 March 2010
[Blog] Budget Day Announced: Alistair Darling and the Treasury have confirmed that the date of the budget is to be ... http://ping.fm/PZbAH
[Blog] Budget Day Announced: Alistair Darling and the Treasury have confirmed that the date of the budget is to be the 24th March.
The Chancellor will hopefully provide the... http://ping.fm/wi6GN
The Chancellor will hopefully provide the... http://ping.fm/wi6GN
Budget Day Announced
(My Original Blog Post: http://ping.fm/WpsOr)
Alistair Darling and the Treasury have confirmed that the date of the budget is to be the 24th March.
The Chancellor will hopefully provide the UK with details on how Britain’s £178 billion deficit will be tackled. He is due to make a speech on the economy today.
The Budget date makes it more likely that the general election will happen on the 6 May. Council Polls are also to take place on this date.
A detailed Budget summary will appear on our site www.consilium-ifa.co.uk
Alistair Darling and the Treasury have confirmed that the date of the budget is to be the 24th March.
The Chancellor will hopefully provide the UK with details on how Britain’s £178 billion deficit will be tackled. He is due to make a speech on the economy today.
The Budget date makes it more likely that the general election will happen on the 6 May. Council Polls are also to take place on this date.
A detailed Budget summary will appear on our site www.consilium-ifa.co.uk
Monday, 8 March 2010
Not long till the end of the isa season
(My Original Blog Post: http://ping.fm/07Nri)
Considering making an isa investment for the current tax year.
Our ISA guide is available free to download here.
Considering making an isa investment for the current tax year.
Our ISA guide is available free to download here.
[Blog] Not long till the end of the isa season: Considering making an isa investment for the current tax year.
Our ISA guide is available free to download here. http://ping.fm/TzSN1
Our ISA guide is available free to download here. http://ping.fm/TzSN1
[Blog] Not long till the end of the isa season: Considering making an isa investment for the current tax year.
O... http://ping.fm/LKMrY
O... http://ping.fm/LKMrY
[Blog] Stroud and Swindon Merger: Coventry Building Society has held talks with Stroud & Swindon over a possible merger.
Both Societies are mutuals. A merger between Co... http://ping.fm/Me1xf
Both Societies are mutuals. A merger between Co... http://ping.fm/Me1xf
Stroud and Swindon Merger
(My Original Blog Post: http://ping.fm/zC0TL)
Coventry Building Society has held talks with Stroud & Swindon over a possible merger.
Both Societies are mutuals. A merger between Coventry,which is the third largest building society in the UK, and Stroud and Swindon , which is much smaller rival will create an organisation with £21 billion of assets and 1.2 million customers.
Stroud and Swindon have confirmed that talks are at a very early stage.
Stroud has £3 billion in assets with 265,000 members.
Coventry have recently reported pre-tax profits of £56.2 million.
Consilium Asset Management are Financial Advisers based in Bristol
Coventry Building Society has held talks with Stroud & Swindon over a possible merger.
Both Societies are mutuals. A merger between Coventry,which is the third largest building society in the UK, and Stroud and Swindon , which is much smaller rival will create an organisation with £21 billion of assets and 1.2 million customers.
Stroud and Swindon have confirmed that talks are at a very early stage.
Stroud has £3 billion in assets with 265,000 members.
Coventry have recently reported pre-tax profits of £56.2 million.
Consilium Asset Management are Financial Advisers based in Bristol
[Blog] Stroud and Swindon Merger: Coventry Building Society has held talks with Stroud & Swindon over a possibl... http://ping.fm/YmZ4u
Tuesday, 2 March 2010
NEST - What is it?
(My Original Blog Post: http://ping.fm/31peY)
The Personal Accounts Delivery Authority (Pada) confirmed which company is to administer the new NEST Scheme (formerly Personal accounts).
PADA confirmed that Tata Consultancy Services (TCS) will provide the administration of the scheme when it is launched. Pada will sign a contract with TCS later this month.
The NEST will force employers to contribute to a pension arrangement on behalf of their employees. Employees will also be required to contribute.
Employers will either automatically enrol employees into the scheme or provide an alternative arrangement that meets certain criteria.
To find out more about pension advice and employers responsibility when the Nest scheme is launched click on the links.
Angela Eagle, minister of state for pensions, said: 'Together with automatic enrolment, Nest will help millions of people save for their retirement, with a guaranteed employer and Government contribution.'
The Personal Accounts Delivery Authority (Pada) confirmed which company is to administer the new NEST Scheme (formerly Personal accounts).
PADA confirmed that Tata Consultancy Services (TCS) will provide the administration of the scheme when it is launched. Pada will sign a contract with TCS later this month.
The NEST will force employers to contribute to a pension arrangement on behalf of their employees. Employees will also be required to contribute.
Employers will either automatically enrol employees into the scheme or provide an alternative arrangement that meets certain criteria.
To find out more about pension advice and employers responsibility when the Nest scheme is launched click on the links.
Angela Eagle, minister of state for pensions, said: 'Together with automatic enrolment, Nest will help millions of people save for their retirement, with a guaranteed employer and Government contribution.'
Monday, 1 March 2010
Pru clinches mega deal
(My Original Blog Post: http://ping.fm/u0Grg)
Prudential, the UK life insurer, has agreed to buy the Asian operations of AIG. An agreed price of $35.5bn in cash and shares makes it one of the largest deals in UK history.
The deal combines the largest insurance businesses in Asia. The deal doubles the size of Prudential and will make the region a key contributor to profits within the group.
The deal will be structured as an acquisition of both Prudential and AIA by a new company, to be known initially as New Prudential.
It is reported that Prudential will pay $25bn in cash and 10.5bn in shares of the enlarged company. The company headquarters will be in the UK and will be listed on the UK Stock Exchange. It is also anticipated that the company will also be listed on the US stockmarkets
AIG has planned a partial floatation of the Asian part of the group, but shelved the idea in preference to the deal with the Pru.
“I think that transformational is an overused word but this deal is truly transformational,” said Tidjane Thiam, chief executive of Prudential. “We have the full support of the AIG board and the US authorities,” he added.
The takeover increases Prudential’s exposure to Asia, which accounted for 44 per cent of new business in 2009. Prudential have confirmed that the UK life assurance sector is still an important part of the groups overall activity.
Prudential, the UK life insurer, has agreed to buy the Asian operations of AIG. An agreed price of $35.5bn in cash and shares makes it one of the largest deals in UK history.The deal combines the largest insurance businesses in Asia. The deal doubles the size of Prudential and will make the region a key contributor to profits within the group.
The deal will be structured as an acquisition of both Prudential and AIA by a new company, to be known initially as New Prudential.
It is reported that Prudential will pay $25bn in cash and 10.5bn in shares of the enlarged company. The company headquarters will be in the UK and will be listed on the UK Stock Exchange. It is also anticipated that the company will also be listed on the US stockmarkets
AIG has planned a partial floatation of the Asian part of the group, but shelved the idea in preference to the deal with the Pru.
“I think that transformational is an overused word but this deal is truly transformational,” said Tidjane Thiam, chief executive of Prudential. “We have the full support of the AIG board and the US authorities,” he added.
The takeover increases Prudential’s exposure to Asia, which accounted for 44 per cent of new business in 2009. Prudential have confirmed that the UK life assurance sector is still an important part of the groups overall activity.
[Blog] Pru clinches mega deal: Prudential, the UK life insurer, has agreed to buy the Asian operations of AIG. An agreed price of $35.5bn in cash and shares makes it one of th... http://ping.fm/RDHCN
[Blog] Pru clinches mega deal: Prudential, the UK life insurer, has agreed to buy the Asian operations of AIG. An a... http://ping.fm/Czmcx
Wednesday, 17 February 2010
[Blog] Wealthy Tax avoiders get hit for £373 million: HMRC started to tighten their grip on tax ... http://ping.fm/afGyF
Wealthy Tax avoiders get hit for �373 million
(My Original Blog Post: http://www.consilium-ifa.co.uk/blog/financial-news/wealthy-tax-avoiders-get-hit-for-373-million.php)
HMRC started to tighten their grip on tax avoidance last year. It has been reported that £373 million in revenue was received as a result of targeting tax avoidance schemes. This represents a 21% increase on the previous year.
Figures obtained under the Freedom of Information Act show the result of action taken by special HM Revenue & Customs' teams set up to tackle tax avoidance.
The haul was revealed by law firm McGrigors, under the freedom of information act. The increase in revenue is 360% higher than five years ago.
The campaign has been used to help plug the hole in the public finances.
It is believed that many old schemes are still being used and it is only a matter of time before HMRC catches up with them.
Investment bankers and hedge fund managers were among HMRC’s main targets, as were foreign nationals.
Tax avoidance that are designed for inheritance tax planning, capital gains tax and stamp duty have been closed down. The rules on trusts have also been given an overhaul, making it much harder to use them to reduce tax.
HMRC started to tighten their grip on tax avoidance last year. It has been reported that £373 million in revenue was received as a result of targeting tax avoidance schemes. This represents a 21% increase on the previous year.Figures obtained under the Freedom of Information Act show the result of action taken by special HM Revenue & Customs' teams set up to tackle tax avoidance.
The haul was revealed by law firm McGrigors, under the freedom of information act. The increase in revenue is 360% higher than five years ago.
The campaign has been used to help plug the hole in the public finances.
It is believed that many old schemes are still being used and it is only a matter of time before HMRC catches up with them.
Investment bankers and hedge fund managers were among HMRC’s main targets, as were foreign nationals.
Tax avoidance that are designed for inheritance tax planning, capital gains tax and stamp duty have been closed down. The rules on trusts have also been given an overhaul, making it much harder to use them to reduce tax.
Tuesday, 16 February 2010
Inflation exceeds targets
(My Original Blog Post: http://www.consilium-ifa.co.uk/blog/general-info/inflation-exceeds-targets.php)
In the twelve months to January, the consumer prices index (CPI) rose by 3.5% in the year. This was up from the 2.9% rise recorded in
December 2009.
The Bank of England has been under pressure over most of 2009. Higher than expected inflation has meant that the BOE governor – Mervyn King has had to write to the Chancellor of the Exchequer to explain why inflation has been above the Governments target of 2%.
The Bank anticipates that inflation will fall later this year. If they are proved correct it may even stay below the target for the next two years
The Governor has indicated that the recent high level of inflation have been down to the VAT change in December and increases in oil prices.
In the year to January, the all items retail prices index (RPI) which is used to negotiate salary increases rose by 3.7%, up from 2.4% in the twelve months to December as last year's interest rate cuts dropped out of the annual calculations.
Over the same period, the all items RPI excluding mortgage interest payments index (RPIX) rose by 4.6%, up from 3.8% in December.
For the latest market information go to our Market Info page
In the twelve months to January, the consumer prices index (CPI) rose by 3.5% in the year. This was up from the 2.9% rise recorded in
December 2009.The Bank of England has been under pressure over most of 2009. Higher than expected inflation has meant that the BOE governor – Mervyn King has had to write to the Chancellor of the Exchequer to explain why inflation has been above the Governments target of 2%.
The Bank anticipates that inflation will fall later this year. If they are proved correct it may even stay below the target for the next two years
The Governor has indicated that the recent high level of inflation have been down to the VAT change in December and increases in oil prices.
In the year to January, the all items retail prices index (RPI) which is used to negotiate salary increases rose by 3.7%, up from 2.4% in the twelve months to December as last year's interest rate cuts dropped out of the annual calculations.
Over the same period, the all items RPI excluding mortgage interest payments index (RPIX) rose by 4.6%, up from 3.8% in December.
For the latest market information go to our Market Info page
Monday, 15 February 2010
Making a Will
(My Original Blog Post: http://ping.fm/v388E)
Don t leave your beneficiaries with extra expenses and complications.
Individuals who pass away without a valid will, or intestate, result in complications ,costs to their beneficiaries and often gift thousands of pounds to the Treasury in what may be avoidable Inheritance Tax (IHT).
The Law Society says that anyone with possessions and family or friends should make a will, regardless of their age. It is especially important if you are not married to your partner, because the law does not accord partners the same rights automatically of inheritance as spouses.
Property that is owned jointly by unmarried partners on a joint tenancy basis would still pass automatically to the surviving partner under the rules of survivorship. Under the current intestacy rules, an unmarried partner has no rights to any assets that were not jointly held (although the Law Commission has of late suggested to change this).
Affecting a will is also essential if you have children, as you can appoint guardians to look after them.
It is essential to make a list of investments, propert and debts and their approximate values. Include your properties, investments, nest egg, insurance policies and pensions.
In addition, consider details of specific bequests. Merely informing a relative that an item will be his or hers one day could cause trouble later.
You should receive professional advice on inheritance tax planning as part of writing your will. Simple measures could save the beneficiaries of wealthier householders thousands of £'s in taxation.
A vital factor of making a will is the naming of executors to ensure that your wishes are executed.
You should also review your will every five years or so and whenever your circumstances are altered by a substantial life event, such as wedding, split up or a birth or death in the immediate family. Another example would be after a house purchase or move.
Whoever makes up your will, make sure acopy is kept secure or deposit it with a probate registry
Don t leave your beneficiaries with extra expenses and complications.
Individuals who pass away without a valid will, or intestate, result in complications ,costs to their beneficiaries and often gift thousands of pounds to the Treasury in what may be avoidable Inheritance Tax (IHT).
The Law Society says that anyone with possessions and family or friends should make a will, regardless of their age. It is especially important if you are not married to your partner, because the law does not accord partners the same rights automatically of inheritance as spouses.
Property that is owned jointly by unmarried partners on a joint tenancy basis would still pass automatically to the surviving partner under the rules of survivorship. Under the current intestacy rules, an unmarried partner has no rights to any assets that were not jointly held (although the Law Commission has of late suggested to change this).
Affecting a will is also essential if you have children, as you can appoint guardians to look after them.
It is essential to make a list of investments, propert and debts and their approximate values. Include your properties, investments, nest egg, insurance policies and pensions.
In addition, consider details of specific bequests. Merely informing a relative that an item will be his or hers one day could cause trouble later.
You should receive professional advice on inheritance tax planning as part of writing your will. Simple measures could save the beneficiaries of wealthier householders thousands of £'s in taxation.
A vital factor of making a will is the naming of executors to ensure that your wishes are executed.
You should also review your will every five years or so and whenever your circumstances are altered by a substantial life event, such as wedding, split up or a birth or death in the immediate family. Another example would be after a house purchase or move.
Whoever makes up your will, make sure acopy is kept secure or deposit it with a probate registry
[Blog] Making a Will: Don t leave your beneficiaries with extra expenses and complications.
Individuals who pass away without a v... http://ping.fm/MWwMq
Individuals who pass away without a v... http://ping.fm/MWwMq
Friday, 12 February 2010
Watch out the FSA!
(My Original Blog Post: http://ping.fm/ekhWg)
It could be “all change” at the financial services authority if a conservative government gets into power later this year.
Senior conservative MP’s have confirmed that the role of the city watchdog would dramatically change if they came into power.
If elected banking supervision would be transferred from the FSA to the bank of England. The FSA have come under severe scrutiny over the last few years, especially due to the UK banking crisis.
The FSA have had a difficult week with its head (Hector Sants) resigning along with accusations of poor controls and issues regarding the proposed retail distribution review.
Mr Hoban a conservative shadow treasury spokesman said “We want the Bank to take responsibility for macro and micro prudential supervision in the first year,” Mr Hoban said in an interview with the Financial Times. Mr Hoban acknowledged that the plan had encountered significant resistance in the City in the seven months since it was proposed by George Osborne, the shadow chancellor.
There are concerns in the city that a large scale restructuring of financial regulation could cause problems.
Mr Hoban said the Tories had no intention of waiting several years before enacting the reforms. He admitted that the proposed Consumer Protection Agency to take on the FSA’s customer-related work might add to the cost of regulation. “We want to move away from a situation where the FSA is cleaning up the mess after it happens.”
Consilium Asset Management
It could be “all change” at the financial services authority if a conservative government gets into power later this year.
Senior conservative MP’s have confirmed that the role of the city watchdog would dramatically change if they came into power.
If elected banking supervision would be transferred from the FSA to the bank of England. The FSA have come under severe scrutiny over the last few years, especially due to the UK banking crisis.
The FSA have had a difficult week with its head (Hector Sants) resigning along with accusations of poor controls and issues regarding the proposed retail distribution review.
Mr Hoban a conservative shadow treasury spokesman said “We want the Bank to take responsibility for macro and micro prudential supervision in the first year,” Mr Hoban said in an interview with the Financial Times. Mr Hoban acknowledged that the plan had encountered significant resistance in the City in the seven months since it was proposed by George Osborne, the shadow chancellor.
There are concerns in the city that a large scale restructuring of financial regulation could cause problems.
Mr Hoban said the Tories had no intention of waiting several years before enacting the reforms. He admitted that the proposed Consumer Protection Agency to take on the FSA’s customer-related work might add to the cost of regulation. “We want to move away from a situation where the FSA is cleaning up the mess after it happens.”
Consilium Asset Management
[Blog] Watch out the FSA!: It could be “all change” at the financial services authority if a conservative government gets ... http://ping.fm/2Fe5T
Local MP meets Sodbury and Yate Business Association
Local MP Steve Webb met with the local business people of Chipping sodbury and Yate. Sodbury and Yate is the local chamber of commerce
Thursday, 11 February 2010
BT and BA disagree with the pensions regulator
(My Original Blog Post: http://ping.fm/hkN7L)
The Pensions regulator seems to be at loggerheads with the Trustees of one of the UK’s largest pension schemes.
It has been revealed that the BT Pension scheme has a deficit of over £9billion as at December 2008. The regulator has raised concerns about certain aspects of the plan to reduce the deficit.
The trustees of the scheme have agreed a 17 year plan to improve the current underfunding of the scheme. They have also agreed to pay an additional £500 million a year into the pension arrangement
The scheme is the largest final salary pension scheme in the UK.
BT joins British Airways in a disagreement with the Pensions Regulator over the cost of its pension obligations. BT’s pension liabilities dwarf the company’s £10.1bn market capitalisation.
For pensions and retirement advice why not contact us
The Pensions regulator seems to be at loggerheads with the Trustees of one of the UK’s largest pension schemes.
It has been revealed that the BT Pension scheme has a deficit of over £9billion as at December 2008. The regulator has raised concerns about certain aspects of the plan to reduce the deficit.
The trustees of the scheme have agreed a 17 year plan to improve the current underfunding of the scheme. They have also agreed to pay an additional £500 million a year into the pension arrangement
The scheme is the largest final salary pension scheme in the UK.
BT joins British Airways in a disagreement with the Pensions Regulator over the cost of its pension obligations. BT’s pension liabilities dwarf the company’s £10.1bn market capitalisation.
For pensions and retirement advice why not contact us
[Blog] BT and BA disagree with the pensions regulator: The Pensions regulator seems to be at l... http://ping.fm/haCcc
Can the government deliver on home care
(My Original Blog Post: http://ping.fm/GPf5g)
Every four years or so an election tends to make politicians focus on issues that are vote winners. One such issue is the current lack of care for the elderly. Long Term care is a key battleground for all the parties.
The number of people in the UK requiring long term care has been increasing over the last decade and it will continue to increase.
Whether the Government and the UK are able and willing to provide the level of care that the general public expect is another matter.
Gordon Brown was treated to a public dressing down by David Cameron this week at Prime Ministers Question Time. His announcement to improve home care was met with scepticism. The PM also avoided the question posed about how care was to be paid for. The indication it that a tax after death might be levied ranging between £17,000 and £20,000.
The plan is intended to start in October with central government picking up most of the £670 million cost, while councils will provide the remaining £250 million.
Local councils are worried that the cost of care will be too much for local authorities to pay for. A large number of councillors have written to the Times to raise their concerns.
There is no easy answer to how we should care for the elderly in our communities, but we should at least provide a better level of support and ability to finance care when compared to the current situation.
Whether any party has the gumption to tackle such an important issue we will have to wait and see.
Financial Advisers are ideally placed to help provide support and guidance in addition to charities such as help the aged and local authorities.
Every four years or so an election tends to make politicians focus on issues that are vote winners. One such issue is the current lack of care for the elderly. Long Term care is a key battleground for all the parties.
The number of people in the UK requiring long term care has been increasing over the last decade and it will continue to increase.
Whether the Government and the UK are able and willing to provide the level of care that the general public expect is another matter.
Gordon Brown was treated to a public dressing down by David Cameron this week at Prime Ministers Question Time. His announcement to improve home care was met with scepticism. The PM also avoided the question posed about how care was to be paid for. The indication it that a tax after death might be levied ranging between £17,000 and £20,000.
The plan is intended to start in October with central government picking up most of the £670 million cost, while councils will provide the remaining £250 million.
Local councils are worried that the cost of care will be too much for local authorities to pay for. A large number of councillors have written to the Times to raise their concerns.
There is no easy answer to how we should care for the elderly in our communities, but we should at least provide a better level of support and ability to finance care when compared to the current situation.
Whether any party has the gumption to tackle such an important issue we will have to wait and see.
Financial Advisers are ideally placed to help provide support and guidance in addition to charities such as help the aged and local authorities.
[Blog] Can the government deliver on home care: Every four years or so an election tends to make polit... http://ping.fm/WP6uI
[Blog] End of the Tax Year Looms: It's not very long before the ending of the tax year. It is so essential to make the... http://ping.fm/BPxgC
End of the Tax Year Looms
(My Original Blog Post: http://www.consilium-ifa.co.uk/blog/general-info/end-of-the-tax-year-looms.php)
It's not very long before the ending of the tax year. It is so essential to make the most of any allowances and tax breaks that are useable.
By using the allowances and annual exemptions you might be able to reduce your tax bill substantially. This can ordinarily be done quick and easily with the advice of a financial advisor.
Individual Savings Accounts (ISAs). If you are aged over 50 your Isa allowance for the present tax year is now £10,200. ISA's are free from capital gains tax, can be used to provide an income and are one of the most tax efficient investment products obtainable
Pensions are also a tax efficient way of saving for retirement. Most individuals can pay in up to three thousand six hundred pounds gross each yr and obtain basic rate tax relief on the payment made. Forty percent taxpayers can claim the residue on their self assessment.
If you have made profits on certain types of investments you may be able to use your yearly capital gains tax allowance. This will enable you to make gains up to this level without acquiring a liability to pay tax. In some examples it is also viable to carry forward previous year's losses.
Each individual can receive a personal allowance of £6475.00 without incurring any income tax. For married couples or civil partnerships, where one is a 40% taxpayer it is worthwhile looking to see who owns the investments and possibly look to transfer assets into the
20% twenty percent taxpayers name.Making annual gifts is also a means of cutting your liability to income tax.
Each individual can make an IHT exempt gift each year of up to Three thousand pounds in a tax year. Any unused exemption can be carried forward for 1 year only. If you are capable to make gifts out of income without it changing your standard of living you might be allowed to make gifts above the yearly exemption limit.
If you think your estate could be above the Inheritance Tax nil rate band then efficient tax planning can be used to cut back your estates likely IHT liability. This could be a suitably drafted will or instead trust planning.
Consilium Asset Management are independent financial advisers based in Bristol, South Gloucestershire.
It's not very long before the ending of the tax year. It is so essential to make the most of any allowances and tax breaks that are useable.
By using the allowances and annual exemptions you might be able to reduce your tax bill substantially. This can ordinarily be done quick and easily with the advice of a financial advisor.
Tax effective investing
Individual savings accounts
Individual Savings Accounts (ISAs). If you are aged over 50 your Isa allowance for the present tax year is now £10,200. ISA's are free from capital gains tax, can be used to provide an income and are one of the most tax efficient investment products obtainable
Pensions
Pensions are also a tax efficient way of saving for retirement. Most individuals can pay in up to three thousand six hundred pounds gross each yr and obtain basic rate tax relief on the payment made. Forty percent taxpayers can claim the residue on their self assessment.
Capital Gains Tax Planning
If you have made profits on certain types of investments you may be able to use your yearly capital gains tax allowance. This will enable you to make gains up to this level without acquiring a liability to pay tax. In some examples it is also viable to carry forward previous year's losses.
Income Tax Planning
Each individual can receive a personal allowance of £6475.00 without incurring any income tax. For married couples or civil partnerships, where one is a 40% taxpayer it is worthwhile looking to see who owns the investments and possibly look to transfer assets into the
20% twenty percent taxpayers name.Making annual gifts is also a means of cutting your liability to income tax.
IHT planning
Each individual can make an IHT exempt gift each year of up to Three thousand pounds in a tax year. Any unused exemption can be carried forward for 1 year only. If you are capable to make gifts out of income without it changing your standard of living you might be allowed to make gifts above the yearly exemption limit.
If you think your estate could be above the Inheritance Tax nil rate band then efficient tax planning can be used to cut back your estates likely IHT liability. This could be a suitably drafted will or instead trust planning.
Consilium Asset Management are independent financial advisers based in Bristol, South Gloucestershire.
Thursday, 4 February 2010
Self Invested Personal Pensions
(My Original Blog Post: http://ping.fm/hr6ll)
Ever wondered what a sipp is? We've put some information on our website to help. Clickhere for more information on Self invested personal pensions/sipps.
Ever wondered what a sipp is? We've put some information on our website to help. Clickhere for more information on Self invested personal pensions/sipps.
[Blog] Self Invested Personal Pensions: Ever wondered what a sipp is? We've put some information on our web... http://ping.fm/OXWDJ
Monday, 25 January 2010
Friday, 15 January 2010
Latest Free Client newsletter available
(My Original Blog Post: http://ping.fm/EUXjt)
Our latest free newslettter Esmart money is now available to download at:
Financial Newsletter
Our latest free newslettter Esmart money is now available to download at:
Financial Newsletter
[Blog] Latest Free Client newsletter available: Our latest free newslettter Esmart money is now available to download at:
... http://ping.fm/DSvTT
... http://ping.fm/DSvTT
Friday, 8 January 2010
Monday, 4 January 2010
[Blog] Time to review your finances: For many people 2009 was a year to forget. A global recession, stock market tu... http://ping.fm/5MUxz
Time to review your finances
(My Original Blog Post: http://ping.fm/DiEJQ)
For many people 2009 was a year to forget. A global recession, stock market turbulence and a general feeling of unease have left a lot of individuals feeling uncertain about the future.
Hopefully 2010 will be a better year. However there are step we can take to help our financial situation.
One thing we can do to get the situation into perspective is to review our finances. Whether it’s your mortgage, loans, investments, income or spending habits need to be reviewed regularly.
Carrying out a review will help you to identify where your finances can be improved and where you need to make changes..
It is important to review your savings and investments, to ensure they are suitable to the level of risk you are prepared to accept. It is also worth looking at your credit cards, gas and electricity as well as insurance to see if you could get a better deal. Even a small saving could make a difference to your monthly budget.
Making the most of your annual tax allowances such as individual savings accounts, capital gains tax allowances and pension planning are also ways of reducing the level of tax you might pay.
Whilst income and capital gains tax are important, the effect of inheritance tax should also be considered.
Many individuals and parents, own assets over the value of the Inheritance Tax Nil Rate band. Effective tax planning can be used to reduce the amount of inheritance tax their estates might have to pay.
For many people, the services provided by financial advisors help them to review and implement changes to their finances.
If you believe that you would benefit from independent financial advice please contact us on 01454 321511.
Consilium Asset Management
For many people 2009 was a year to forget. A global recession, stock market turbulence and a general feeling of unease have left a lot of individuals feeling uncertain about the future.
Hopefully 2010 will be a better year. However there are step we can take to help our financial situation.
One thing we can do to get the situation into perspective is to review our finances. Whether it’s your mortgage, loans, investments, income or spending habits need to be reviewed regularly.
Carrying out a review will help you to identify where your finances can be improved and where you need to make changes..
It is important to review your savings and investments, to ensure they are suitable to the level of risk you are prepared to accept. It is also worth looking at your credit cards, gas and electricity as well as insurance to see if you could get a better deal. Even a small saving could make a difference to your monthly budget.
Making the most of your annual tax allowances such as individual savings accounts, capital gains tax allowances and pension planning are also ways of reducing the level of tax you might pay.
Whilst income and capital gains tax are important, the effect of inheritance tax should also be considered.
Many individuals and parents, own assets over the value of the Inheritance Tax Nil Rate band. Effective tax planning can be used to reduce the amount of inheritance tax their estates might have to pay.
For many people, the services provided by financial advisors help them to review and implement changes to their finances.
If you believe that you would benefit from independent financial advice please contact us on 01454 321511.
Consilium Asset Management
Thursday, 17 December 2009
Small Business Advice
Consilium Asset Management are independent financial advisors that offer a small business advice service to their clients
Thursday, 10 December 2009
Budget summary
(My Original Blog Post: http://ping.fm/zA3Oy)
In depth Budget summary now available at http://ping.fm/iAY5n
In depth Budget summary now available at http://ping.fm/iAY5n
[Blog] Budget summary: In depth Budget summary now available at http://ping.fm/ONXJH http://ping.fm/Qot06
Wednesday, 9 December 2009
Pre Budget Summary
(My Original Blog Post: http://ping.fm/i6IpC)
A summary of the Chancellors Pre Budget Speech is available at
A summary of the Chancellors Pre Budget Speech is available at
[Blog] Pre Budget Summary: A summary of the Chancellors Pre Budget Speech is available at http://ping.fm/mNrLW
Tuesday, 8 December 2009
[Blog] Article on our Small Business Service: Our latest Small Business Article is now available to read.
Our Small Bu... http://ping.fm/9jGcG
Our Small Bu... http://ping.fm/9jGcG
Article on our Small Business Service
(My Original Blog Post: http://ping.fm/1kCUm)
Our latest Small Business Article is now available to read.
Our Small Business advice service is available to our clients.
Our latest Small Business Article is now available to read.
Our Small Business advice service is available to our clients.
[Blog] Budget and the days ahead: The Chancellor of the Exchequer (Alistair Darling) has a difficult task on Wednesd... http://ping.fm/QzIJH
Budget and the days ahead
(My Original Blog Post: http://ping.fm/a3VLO)
The Chancellor of the Exchequer (Alistair Darling) has a difficult task on Wednesday, trying to balance the books of the UK.
His pre-budget report may contain a few bombshells and unpalatable increases in taxation for some sectors of the population.
He has a difficult task of convincing the UK, that he has the ability and plans to restore the UK economy, whilst reducing the current budget deficit.
Any changes must not harm the recovery of the economy, but the UK is still the only major country to officially still be in recession.
With a general election only a matter of months away, he needs to demonstrate that Labour have the ability to help the UK recover.
He is likely to admit the economy contracted 4.75 per cent this year. This was more than his expectations.
A raft of economic data this week will paint a picture in terms of the economic recovery and how it is progressing. Similar data for German industrial production, also out on Tuesday, are expected to show a rise of 1 per cent.
The US will publish retail sales for November this Friday. This hopefully should give a view on consumer spending now that the “cash for clunkers” car scheme has ended.
Friday sees economic data from China for November. This may give a boost to the global recovery.
The Bank of England will probably leave interest rates and the asset purchase scheme unchanged at Thursday’s meeting.
We will publish our budget summary later this week. In the meantime if you would like to speak to our financial adviser please contact us.
The Chancellor of the Exchequer (Alistair Darling) has a difficult task on Wednesday, trying to balance the books of the UK.
His pre-budget report may contain a few bombshells and unpalatable increases in taxation for some sectors of the population.He has a difficult task of convincing the UK, that he has the ability and plans to restore the UK economy, whilst reducing the current budget deficit.
Any changes must not harm the recovery of the economy, but the UK is still the only major country to officially still be in recession.
With a general election only a matter of months away, he needs to demonstrate that Labour have the ability to help the UK recover.
He is likely to admit the economy contracted 4.75 per cent this year. This was more than his expectations.
A raft of economic data this week will paint a picture in terms of the economic recovery and how it is progressing. Similar data for German industrial production, also out on Tuesday, are expected to show a rise of 1 per cent.
The US will publish retail sales for November this Friday. This hopefully should give a view on consumer spending now that the “cash for clunkers” car scheme has ended.
Friday sees economic data from China for November. This may give a boost to the global recovery.
The Bank of England will probably leave interest rates and the asset purchase scheme unchanged at Thursday’s meeting.
We will publish our budget summary later this week. In the meantime if you would like to speak to our financial adviser please contact us.
Monday, 7 December 2009
[Blog] CBI raises concerns about Final Salary Pensions: Concern has been raised by the CBI (C... http://ping.fm/54Wl4
CBI raises concerns about Final Salary Pensions
(My Original Blog Post: http://www.consilium-ifa.co.uk/blog/pensions-advice/cbi-raises-concerns-about-final-salary-pensions.php)
Concern has been raised by the CBI (Confederation of British Industries) about final salary pension schemes and the impact on the UK in recession.
The recent report, surveyed the management of the UK‘s largest companies about pensions generally. The concern was raised about the costs to companies as many schemes have to contribute larger amounts each year into the company pension schemes. It is feared that this will have a large impact on companies as the UK comes out of recession.
The survey found that over 30% of businesses were expecting an increase in the costs to their pension schemes. A third of the companies surveyed felt that the schemes had an impact in their ability to operate.
John Cridland, CBI deputy director-general, said: 'During a recession it is vital that firms are able to restructure and realign to strengthen the business and prepare for future growth.
'However, the high and unpredictable cost of running final salary pensions is having far-reaching and damaging effects on UK competitiveness and the wider economy.'
The report also re-confirmed the view of many financial advisors. More employees may have to contribute more to existing arrangements if they wish to remain members of their scheme. In some cases employers are considering closing their final salary pension schemes altogether.
If you would like to discuss any aspects of pension advice
please contact us.
Concern has been raised by the CBI (Confederation of British Industries) about final salary pension schemes and the impact on the UK in recession.
The recent report, surveyed the management of the UK‘s largest companies about pensions generally. The concern was raised about the costs to companies as many schemes have to contribute larger amounts each year into the company pension schemes. It is feared that this will have a large impact on companies as the UK comes out of recession.
The survey found that over 30% of businesses were expecting an increase in the costs to their pension schemes. A third of the companies surveyed felt that the schemes had an impact in their ability to operate.
John Cridland, CBI deputy director-general, said: 'During a recession it is vital that firms are able to restructure and realign to strengthen the business and prepare for future growth.
'However, the high and unpredictable cost of running final salary pensions is having far-reaching and damaging effects on UK competitiveness and the wider economy.'
The report also re-confirmed the view of many financial advisors. More employees may have to contribute more to existing arrangements if they wish to remain members of their scheme. In some cases employers are considering closing their final salary pension schemes altogether.
If you would like to discuss any aspects of pension advice
please contact us.
Monday, 30 November 2009
Friday, 27 November 2009
Pre- Budget 9th December 2009
(My Original Blog Post: http://www.consilium-ifa.co.uk/blog/financial-news/pre-budget-9th-december-2009.php)
The Chancellor, Alistair Darling will present his pre-budget speech to Parliament on the 9th December
Due to the current state of the UK’s finances it is likely that additional tax increases will be revealed. Tax increases have already been announced in the last budget.
Tax increases in April 2010
The new 50% rate of income tax was announced in the last budget, along with increases in the rate of dividend taxation for taxpayers earning over £150,000
Changes to personal allowances will also be made wef April 2010 for earnings over £100,000. The personal allowance will be reduced by £1 for every £2 earned over £100,000. This means taxpayers will be paying an effective 60% income tax rate on income between £100,000 and £112,950.
Small companies will also be hit by an increase in the small companies’ corporation tax rate. This rate will increase from 21% to 22% from April. This will directly hit the pockets of most small incorporated businesses in the UK.
There are also rumours about changes to capital gains tax, inheritance tax and tax relief on pension contributions. Any further changes could have a dramatic impact on individuals and businesses alike. A review of the financial advice that you may have received prior to the budget might be appropriate
We will have to wait until the 9th to see what delights are in store for the UK.
The Chancellor, Alistair Darling will present his pre-budget speech to Parliament on the 9th December
Due to the current state of the UK’s finances it is likely that additional tax increases will be revealed. Tax increases have already been announced in the last budget.
Tax increases in April 2010
The new 50% rate of income tax was announced in the last budget, along with increases in the rate of dividend taxation for taxpayers earning over £150,000
Changes to personal allowances will also be made wef April 2010 for earnings over £100,000. The personal allowance will be reduced by £1 for every £2 earned over £100,000. This means taxpayers will be paying an effective 60% income tax rate on income between £100,000 and £112,950.
Small companies will also be hit by an increase in the small companies’ corporation tax rate. This rate will increase from 21% to 22% from April. This will directly hit the pockets of most small incorporated businesses in the UK.
There are also rumours about changes to capital gains tax, inheritance tax and tax relief on pension contributions. Any further changes could have a dramatic impact on individuals and businesses alike. A review of the financial advice that you may have received prior to the budget might be appropriate
We will have to wait until the 9th to see what delights are in store for the UK.
The Chancellor, Alistair Darling will present his pre-budget speech to Parliament on the 9th December
Due to the current state of the UK’s finances it is likely that additional tax increases will be revealed. Tax increases have already been announced in the last budget.
Tax increases in April 2010
The new 50% rate of income tax was announced in the last budget, along with increases in the rate of dividend taxation for taxpayers earning over £150,000
Changes to personal allowances will also be made wef April 2010 for earnings over £100,000. The personal allowance will be reduced by £1 for every £2 earned over £100,000. This means taxpayers will be paying an effective 60% income tax rate on income between £100,000 and £112,950.
Small companies will also be hit by an increase in the small companies’ corporation tax rate. This rate will increase from 21% to 22% from April. This will directly hit the pockets of most small incorporated businesses in the UK.
There are also rumours about changes to capital gains tax, inheritance tax and tax relief on pension contributions. Any further changes could have a dramatic impact on individuals and businesses alike. A review of the financial advice that you may have received prior to the budget might be appropriate
We will have to wait until the 9th to see what delights are in store for the UK.
[Blog] Pre- Budget 9th December 2009: The Chancellor, Alistair Darling will present his pre-budget speech to Parl... http://ping.fm/oxOk3
Thursday, 26 November 2009
Thursday, 19 November 2009
Free Guide to Life Cover
Free Guide to protection available at http://www.consilium-ifa.co.uk/blog/life-assurance/free-guide-to-protection.php.
For more information on Life assurance go to www.consilium-ifa.co.uk
Wednesday, 26 August 2009
Wednesday, 28 January 2009
New integrated blog
Our blog is now integrated into our website. The blog address is www.consilium-ifa.co.uk/blog
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