Blog entries

It's time to get a plan...

Jeremy Macafee — Thu, 21 Jan 2010 16:41:51 +0100

With this week’s announcement of higher inflation figures for the UK and unemployment figures steadying for the fist time in 18 months it is a crucial time to review your whole financial situation, in particular your debt/savings ratios.

As a general rule we woulRead More...

Social Media in Financial Services

Jaime Steele — Wed, 20 Jan 2010 20:45:18 +0100

Last week I spoke to a large group of financial services professionals on the benefits of using social media for business.

This is the video we put together to show the old and new approach.

Significant Tax Changes Next Year

Jaime Steele — Mon, 11 Jan 2010 20:36:05 +0100

Although we are now into a new calendar year, the tax year does not end for nearly another three months.

The next tax year sees some significant tax changes, perhaps the most important one being that anyone with income in excess of £150,000 will pay income tax at 50% on the excess. The question most often asked is “can anytRead More...

Pre-budget Report Forecast

Jaime Steele — Tue, 10 Nov 2009 19:36:44 +0100

Although the date for this year’s Pre-Budget Report has yet to be announced, we know that it is imminent and therefore the usual speculation as to what may be included has started in earnest.

The state of the public finances means that no-one is expecting the Statement to include any generous tax breaks and therefore the main focus from thosRead More...

Market Commentary

Administrator — Mon, 09 Nov 2009 18:54:50 +0100

It’s a little disappointing that the main news arising from the G20 finance ministers’ meeting at St Andrew’s is the story of Gordon Brown’s calls for a tax on the activity of the capital markets. Mr Brown had suggested the tax but almost immediately US Treasury secretary, Timothy Geithner, dismissed the notion as unworkable. Needless toRead More...

Cru Update - 6-8 weeks off yet...

Jaime Steele — Mon, 12 Oct 2009 14:25:02 +0100

The below has bee taken from Citywire:

Capita has quashed concerns over the existence of the assets held by the Arch Cru funds in a letter to investors and advisers, but warned that the key issues around the suspension of the funds will not be resolved for six to eight weeks.

Capita, authorised corporate director for the Arch Cru funds, said it had received &lsquoRead More...

Market Commentary

Jaime Steele — Mon, 28 Sep 2009 20:03:11 +0100

The story in markets last week was all about the weakness of Sterling. The pound fell to a five month low against the Euro, confounding many who had expected Sterling to appreciate against the single currency by the end of the summer.

Significant falls against the US Dollar were also recorded, bRead More...

Why you don't have to pay Inheritance Tax...

Jaime Steele — Thu, 03 Sep 2009 18:22:49 +0100

EXCLUDED PROPERTY TRUSTS

5 Meaning of estate
(1)For the purposes of this Act a person’s estate is the aggregate of all the property to which he is beneficially entitled, except that...
(b) the estate of a person immediately before his death does not include excluded property.

The exemption from Inheritance Tax afforded by s5(1)(b) IHTA as quoted above is obviously an extremely attractive and valuable one.

For a period in the early part of this decadRead More...

Market Round-Up

Administrator — Thu, 03 Sep 2009 12:57:08 +0100

Market Round-Up

Around The World (%)
Close
1 Week
1 Month
3 Months
12 Months

FTSE* All-Share
2520.66
1.3
9.21
12.67
-11.51

FTSE* 100
4908.9
1.2
8.39
11.88
-12.36

S&P 500 (US)
1028.93
0.27
5.03
13.46
-20.89

Nasdaq Composite
2028.77
0.39
2.7
15.81
-15.88

Europe excl UK
286.77
2.04
9.58
15.09
-16.45

Nikkei 225
10534.14
2.89
4.43
11.46
-17.5

Topix
969.31
2.32
4.21
8.23
-20.52

Pacific Basin excl Japan
352.05
2.43
1.15
16.Read More...

Claiming my Blog on Technorati

Administrator — Tue, 25 Aug 2009 15:11:57 +0100

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Market Commentary

Jaime Steele — Mon, 24 Aug 2009 12:46:27 +0100

Welcome to the start of the week, and the last week before the schools return and the commuters' lot becomes an even less happy one.

The holiday season didn't deter markets last week from ending the week on a positive note. Equity markets globally ended the week in fine style, as investors took the view that economic recovery is well on the way. This was fuelled in no small part by the influential US Federal Reserve Chairman, Ben Bernanke, commenting that recovery was on the way in theRead More...

Update on Cru

Jaime Steele — Fri, 31 Jul 2009 12:46:54 +0100

Finally we have some news on Cru, well nothing in black and white but Capita are nearly at the end of their valuation process.

This has been signified by the suspension of trade in the underlying cell companies. We therefore hope that the funds will reopen shortly, though at present no timescale has been given. We will be in touch will all investors as soon Read More...

Property & Pensions - How to make the most of both

Jaime Steele — Mon, 27 Jul 2009 12:20:02 +0100

From A-day In-specie contributions have been available. They can offer individuals and companies a way to significantly increase pension funds whilst not having to find liquid cash. Commercial property can be used to make contributions.

Basic rules apply;

If the property is owned by the company the contribution will be an “Employer Contribution”
If the property is owned by an individual then the contribution will be a “Personal Contribution”

If Read More...

Finance Act Receives Royal Assent

Administrator — Fri, 24 Jul 2009 18:35:26 +0100

I have taken this from Standard Life's press release that has just been issued:

The Cutting Edge - Finance Act 2009 receives Royal Assent

The Finance Act 2009 has now received Royal Assent. The Act includes the pension and tax changes announced in this year's Budget dealing with pension contributions made between Budget day and 5 April 2011 by high income individuals. While the changes only have an immediate impact on a small fraction of the UK population the shockwaves, wRead More...

Tax the Rich

Administrator — Fri, 26 Jun 2009 12:32:08 +0100

That seems to have been the message of the latest Budget with the new 50 per cent income tax rate and a number of proposed changes to pension payment relief aimed at individuals with income over £150,000.

In addition anyone earning over £100,000 will see their personal allowances tapered away by £1 for every £2 over £100,000 earned, such that persons receiving income over £112,950 will have no personal allowances at all.

The new 50% incomRead More...

Europe Rules!

Jaime Steele — Thu, 25 Jun 2009 17:23:02 +0100

European Law Can Save You Tax

In the run up to the recent European Parliament elections there was much discussion on the so-called devolution of law-making powers to unelected European officials.

I am not going to get into the rights or wrongs of this debate but one thing is for sure when it comes to tax – the European Courts have the final say in determining whether UK tax legislation meets with European law.

A recent example of this involved Marks and Spencer. M&aRead More...

Pensions - are we facing a social crisis?

Jaime Steele — Wed, 24 Jun 2009 13:23:26 +0100

It is however an interesting discussion piece and highlights the unwillingness of employers to shoulder the burden of risk on pensions and the potential massive crisis that we may face funding retirement.

According to the Office for National Statistics' Pension Trends report in 2007 7.8 million people were saving into defined contribution schemes, thereby taking the risk of future retirement fund values themselves.

By contrast 7.9 million were saving into defined benefit schemes. ARead More...

Amendments to the Finance Bill

Jaime Steele — Thu, 18 Jun 2009 13:55:14 +0100

These ammendments can be summarised as follows.

- Special annual allowance increased from £20,000 to £50,000
- Allowable pension deduction when working out relevant income increased from £20,000 to £50,000
- No longer need to look back at the last two years earnings
- Annual contributions,including recurring singles, will count as regulars (though have to take a three year average)
- The rules won't apply to those aged 50 or older.

Note - these are amendRead More...

Are racism and unemployment a fall out of the struggling economy?

Jaime Steele — Wed, 17 Jun 2009 13:48:06 +0100

I am critically aware that this is an extremely sensitive subject matter but one that needs to be discussed.

On Radio 5 Live this morning the headline news was that 115 Romanians were forced to flee their homes and take refuge in a local church in my home town of Belfast. As you will all know we are not strangers to trouble in Belfast but it appears more and more to be targeted towards immigrants.

The next news story featured was unemployment… Britain's unemployment expected tRead More...

Is it a shame that young people are aspiring less to own property?

Jaime Steele — Tue, 16 Jun 2009 18:43:51 +0100

A recent survey carried out by the not-for-profit Chartered Institute of Housing (CIH) of 2,028 people found that the proportion of young people that consider owning their own home is in decline.

Are we becoming more like mainland Europe where people no longer consider their home to be their castle? Has the fundemental British desire to own property waned with a new generation or has the current economic climate effected a paradigm shift in the psyche of the youth?
My feeRead More...

SIPPs and Commercial Property Missed Opportunities

Administrator — Mon, 08 Jun 2009 16:49:05 +0100

In these hard times, in an uncertain market a major opportunity for individuals and small businesses is still being ignored in pension planning.

Changes in legislation on A-day which allows connected parties to purchase assets from multiple sources are still not being explored by the financial planner market.

The recent increase in funds with the relaxation of the protected rights rules, an estimated £40 billion plus, gives these opportunities more strength in the cRead More...

Government extends tax relief shocker!

Administrator — Wed, 03 Jun 2009 19:49:43 +0100

Attention all overseas property holders - Government extends tax relief shocker!

A little-known and little-used relief available to individuals is the ability to set losses incurred on furnished holiday lettings against general income. This is probably because there are a great number of restrictions on the circumstances under which the loss can be used in this way. However, the good news is that one of the main restrictions has been relaxed - the bad news is that the relief will bRead More...

Chancellor avoids Stamp Duty

Administrator — Tue, 02 Jun 2009 19:43:57 +0100

I came across this interesting piece in the Daily Mail on the Chancellor avoiding SDLT...

If you are interested in SDLT give us a call.

Read Article Here

Paying off your Mortgage

Administrator — Mon, 01 Jun 2009 17:14:18 +0100

Fancy doing a 'David Cameron'?
As the papers revealed yesterday, and at the tender age of 43, the Tory leader has indeed paid off his mortgage. For many people, the idea of owning their home outright is one of the most appealing of all financial possibilities. Supposing for a moment that a windfall did come your way, which was just sufficient to prize the deeds from the clutches of building society. Would you or should you do that? On the surface at least, it should be a straightforward decisioRead More...

Capital Gains Tax on Second Homes

Administrator — Thu, 28 May 2009 15:05:12 +0100

There is no doubt which story has gripped the nation over the past fortnight – MPs’ expenses and how many have seemed to get away with expense claims that us mere mortals could never dream of.

One of the most high-profile politicians to fall under the media spotlight is Hazel Blears. She was found to have designated her London home as her main residence so as to claim second home allowances on her constituency home. However she told HMRC that the constituency house was her mRead More...