(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
Thursday, 11 February 2010
[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
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