Archive for 2016

Merry Christmas

Merry Christmas

Posted by Mandy Kemp on December 19th 2016

Merry Christmas! Our office will close at lunchtime on Friday, 23 December and re-open on Friday, 30 December.

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Autumn Statement 2016 – Forecasts yes, but forewarning?

Posted by Mandy Kemp on November 25th 2016

How the seasons change. Only 12 months ago, in the Autumn Statement and Spending Review of 2015, the forecasts suggested that public finances were set to improve and the extent of the planned spending cuts would be reduced.

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How will the interest rate cut affect you?

Posted by Mandy Kemp on August 8th 2016

Following on from the “Brexit” vote, last week’s interest rate cut to 0.25% isn’t a great surprise.

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Latest news on applying for Fixed Protection or Individual Protection 2016

Posted by Mandy Kemp on July 4th 2016

In their latest Pension Schemes Newsletter 79, HMRC has confirmed that the online system for applying for Individual Protection 2016 or Fixed Protection 2016 will be available from the end of July 2016.

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EU Referendum – UK decides to leave

EU Referendum – UK decides to leave

Posted by Mandy Kemp on June 24th 2016

Markets have delivered their initial reaction to the news that the British public has voted to leave the European Union.

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Private pension cuts ‘inevitable’

Posted by Mandy Kemp on June 1st 2016

The chairman of the work and pensions select committee has said that some watering down of promised final salary-style pensions by private sector companies is probably inevitable.

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Compliance controls and costs requirements restricting strategy

Posted by Mandy Kemp on June 1st 2016

A survey of 769 CFOs worldwide by EY has found that 56% of them say they cannot focus on strategic priorities because of the time they must spend on compliance, controls and costs.

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House price growth slowing down, says Halifax

Posted by Mandy Kemp on May 10th 2016

Further evidence has emerged of a slow-down in UK house prices in April, as the Halifax said growth eased to 9.2% compared to last year.

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BHS collapse could cost PPF £300m

Posted by Mandy Kemp on May 10th 2016

Lesley Titcomb, chief executive of the Pensions Regulator, has told MPs on the Business, Innovation and Skills and Work and Pensions select committee the watchdog was concerned about BHS four years before its collapse.

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Spring into action - your 2016/17 ISA allowance is now available

Spring into action - your 2016/17 ISA allowance is now available

Posted by Mandy Kemp on May 3rd 2016

As we enter a new tax year, you have a great opportunity to protect your money from the taxman.

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Prince wrote thousands of songs - but why didn’t he write a will?

Posted by Mandy Kemp on April 29th 2016

Court documents filed in Minnesota this week showed that Prince appears to have died intestate.

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More firms fined over pension non-compliance

Posted by Mandy Kemp on April 29th 2016

Figures from the Pensions Regulator show the number of employers being fined up to £10,000 a day for not complying with the rules on workplace pensions has risen by 300% in three months.

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UK economic growth slows to 0.4% in first quarter

Posted by Gordon on April 28th 2016

The UK's economic growth slowed in the first quarter of the year, hit by a drop in manufacturing and construction output, according to ONS figures.

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Self-employed failing to join pension schemes

Posted by Gordon on April 28th 2016

A report from the FSB shows less than a third of the UK's self-employed are saving into a pension.

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Savers taking advantage of new pension freedom

Posted by Gordon on April 28th 2016

HMRC data has revealed savers have withdrawn at least £4.35bn from pensions in the year since new flexibilities were introduced in April 2015, with 232,000 people taking advantage of the new rules.

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Married couples missing out on tax break

Married couples missing out on tax break

Posted by Gordon on March 23rd 2016

News Update from CFM: The Mail reports that just 504,000 of the 4.2m people eligible for the married couples tax break have signed up.

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Pensions Minister Opposes Radical Shake-up

Posted by Gordon on March 4th 2016

News Update from CFM (UK) Ltd: Pensions minister Ros Altmann has cautioned against a major overhaul of pensions tax relief, as speculation mounts that George Osborne is set to scrap the current system in favour of a “pension Isa”.

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Maximise your pension contributions whilst you can

Posted by Gordon on February 27th 2016

News Update from CFM (UK) Ltd: Following the recent consultation on the future of pension tax relief, there is much discussion in the financial press as to whether pension tax relief for those paying higher rates of income tax will be targeted in the next Budget on 16 March.

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IFS: Pension changes will deter savers

IFS: Pension changes will deter savers

Posted by Gordon on February 17th 2016

Research by the IFS has concluded that middle-class savers will be "actively discouraged" from putting money in their pensions if George Osborne pushes ahead with plans to cut tax relief for high earners.

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More than 1m savers face 55% pension tax

More than 1m savers face 55% pension tax

Posted by Gordon on January 21st 2016

Analysis by Aviva indicates the number of people who exceed the limit of the "pension lifetime allowance" could rise to over 1m.

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Senior public sector staff demand compensation for pension tax relief cuts

Posted by Gordon on January 12th 2016

Highly paid public sector workers are demanding compensation for changes to pensions rules.

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Pension fund withdrawals causing concern

Pension fund withdrawals causing concern

Posted by Gordon on January 8th 2016

Pension fund withdrawals very worrying, say experts. Figures from the City regulator show that 120,969 of those who cashed in a pension fund between July and September last year took the whole lot out, where in contrast, just 58,021 people used the money to buy themselves an income, said the Financial Conduct Authority (FCA).

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