News

 

ISA Allowances for 2009/2010

In October 2009 the ISA entitlement was increased to £10,200 for those born before 6th April 1960. For our younger clients the £7,200 limit still applies but will also increase to £10,200 in the new tax year. ISAs provide tax free growth and income taken from an ISA is also tax free, making this one of the most popular methods of savings for clients. ISA allowances are split between Cash and Stocks & Shares which have slightly different limits.

Travel Insurance

Some of you may not be aware that you can now obtain Travel Insurance quotations and proceed to purchase your annual or single trip cover from our website. The covered offered by us is underwritten by Tokio Marine Europe and has been endorsed by both our trade association BIBA (British Insurance Brokers Association) and The Sunday Times for the comprehensive cover provided.

High Earners & Restricted Contributions

You may be aware of the new pension contributions restrictions for high earners which affects those who have overall income of £130,000 or more in this tax year or either of the previous two tax years. If you feel that you may fall into this category and are either making contributions to pension or intend to do so please contact this office immediately so that we may investigate your situation and provide you with tailored advice.

Contracting Out of the State Second Pension

If you are still contracted out of the State Second Pension – formerly known as SERPS you may have received correspondence from your pension provider encouraging you to contract back in. We recommend that clients give serious consideration to this matter and are happy to provide assistance. The Financial Services Authority have created a useful Guide to Contracting Out which can be downloaded from their website and The Pension Advosiry Service have an online Contracting Out tool (click to view - please be aware you that you will be leaving our website to view this tool).