Category Archives: Personal Financial Advice

If you are planning to die, make sure you have a “probate policy”

© Ithica Publishing Services If you take out a life insurance policy, many people assume that if they die, the life insurance company will pay the benefits to their loved ones tax free. Most life policies are written on an …

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Pension funds – the lifetime allowance

freefoto.com Do you have a reasonably large pension fund, if so you need to be aware that the tax rules on pensions have altered. On 6 April 2012, the lifetime allowance (LTA) will be reduced from £1.8 million to £1.5 …

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Investment Policy Statements – a burden or a blessing?

A requirement of The Trustee Act 2000 is that an Investment Policy Statement should be prepared for all trusts. This should have had a major impact on all those professionally involved with the drafting or advisory work on trusts, particularly …

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In those you trust? – Wealth Creation or Wealth Reduction?

freefoto.com Many people at one time or another find themselves in a situation where they want to provide financial assistance to family or friends. This assistance may be temporary are permanent, such as a gift. A common reason these days …

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Retirement Planning – Your State Pension

Almost everyone when the reach state pension age will want to rush to collect their state pension. However you do not have to make an immediate claim upon this. You could delay collecting the pension. If you do you will …

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Retirement Planning – will archaic Pension Regulations limit your income in Retirement?

FreeFoto.com In a previous blog we pointed ways around the curbs on income payments from those in a “Capped Drawdown” pension arrangement. If you have chosen not to take an annuity then your pension arrangements will normally come under Capped …

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Retirement Planning – Improve your income from your pension

© Ithica Publishing Services New legislation allows for higher pension payments than currently available in income drawdown. This new way to increase the amount you take from your pensions is termed Flexible Drawdown. As the name suggests this option is …

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Retirement? Don’t put your house on it…

© Ithica Publishing Services A recent report shows more than two million people over 50 are basing their future prosperity on creating capital for their retirement through property, rather than a pension. Most believe they will downsize when they hit …

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Tax Tip – Self Assessment Tax Return

Although you may just have started work after your holiday break, do be aware that the deadline for submission of paper self-assessment tax returns is 31st October. The reason for ensuring that you do complete your tax return on time …

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How Much Would Your Family Make a Legal Claim For?

© Ithica Publishing Services If you are the owner of both business and personal assets, how much would your family sue for if you were to die in an accident? Naturally you will want to ensure that all liabilities such …

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HM Treasury get the hump over offshore tax avoidance!

© Ithica Publishing Services A recent deal agreed by the UK Treasury and the Swiss authorities is a body blow for the wealthy. Historically Switzerland has always provided a safe and secure haven and privacy for depositors. However UK residents …

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‘Stop socialising…or we’ll repossess your house’

Seems a fairly extreme statement doesn’t it? But according to startling news reports, that’s exactly what 2,000 people are now being told every week – in a phone call from their bank. Bradford & Bingley and Northern Rock Asset Management …

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Tax Tip

©Ithica Publishing Services Our associate company Rabix Wealth has been recommending that all investors consider the merits of index linked investments for some time now, subject to receiving individual investment advice. If you are able to get a good deposit …

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Live the Dream

© Ithica Publishing Services We mentioned negative commentary on self development publications a few blogs ago.  As you may have gathered we do not necessarily concur. However we do agree that one needs to do more than simply buy a …

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Tax to the Max

© Ithica Publishing Services It’s a shock for many people that the true extent of the tax they pay is often far higher than they believe. However this will become clearer shortly as the Chancellor has ordered Treasury officials to …

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Tax Evasion and Tax Avoidance

The difference between tax evasion and tax avoidance is that tax evasion is illegal and tax avoidance is not. Or as somebody once put it, the difference is the thickness of a prison wall! Nowadays things are quite so clear, …

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Tax Tip for Property Investors

Royal Assent has now been granted, this means that the proposals put forward in the budget (as amended) are now law. For serious property investors this offers possibilities of reducing Stamp Duty Land Tax by making a making a number …

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Government to look at reform of non-dom tax

The Treasury intends to  reform the tax system as it applies to non-domiciled residents. The aim is to encourage individuals to invest in the UK while also ensuring a fair tax contribution. The Government insisted that the current rules discourage …

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Plans to give online shoppers extra safeguards

European MPs have given their backing to measures which will afford online shoppers additional protection. Member state governments have been allowed a two-year period in which to implement the new regulations. The changes have been made because many of the …

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Inheritance Tax ( IHT )

Inheritance tax is a tax on your worldwide assets. Proper planning could save your family hundreds of thousands of pounds. In order to plan effectively you need to put some time into collating the precise information required. This will assist …

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