Newsflash!

Budget March 2012

The Economy

The Independent Office for Budget Responsibility (OBR) has revised upwards the UK forecast for 2012 from 0.7% to 0.8%.   The forecast for 2013 is 2%, for 2014 2.7% and for 2015/16 3%.   UK inflation is set to fall from 2.8% for 2012 to 1.9% for 2013.

Pensions

WEF April 2013 a new single-tier state pension will be introduced to be set above the means test at a minimum of £140 a week.   The Government is due to examine linking the state pensions age to life expectancy.

Child Benefit

This will be phased out when someone in a household has an income of more than £50,000, decreasing by 1% for every £100 earned over £50,000.   Only those earning more than £60,000 will lose the benefit completely.

Tax

WEF 21 March 2012

  • there is a new 7% stamp duty on properties worth more than £2m
  • there are also plans (15% stamp duty rate on properties worth over £2m within corporate envelopes) to clamp down on stamp duty avoidance by using companies to buy expensive properties.

WEF April 2013

  • the 50p top rate of tax levied on earnings of £150,000 or more will be cut to 45p
  • the personal income tax allowance will be increased to £9,205
  • age-related income tax allowances will be removed for new pensioners and replaced with the same personal allowance as the rest of the UK
  • there will be a new cap on tax reliefs set at 25% of total income for anyone claiming more than £50,000 in a year
  • Corporation tax will be reduced to 24%, with a further 1% reduction in 2013 and in 2014.

There will also be a simplified tax return process for small firms with a turnover of up to £77,000.

WEF April 2013/14

  • the higher income tax band will be reduced from £42,475 to £41,450.

 

Need advice?

01245 283594
Lines open Monday-Friday 9am-6pm
info@chelmsfordfinancial.co.uk
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ISA Application Checklist

Thursday, 22 January 2009 13:16
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  1. Choose Your Fund

    There are four Jupiter Merlin Funds (Balanced, Growth, Income and Worldwide) and your ISA can hold one or more of these. These portfolios are known as 'funds of funds' and predominately invest in 10 to 15 funds that the managers consider to be the best performing in the industry (not just Jupiter funds). See Factsheet.

  2. Read the Key Features

    The site provides the Key Features dedicated to the Jupiter Merlin Funds. Remember, Jupiter will be acting only as your ISA Manager. Your money will be invested in the funds of your choice. It is essential before you consider investing in the funds mentioned that you obtain, read and understand fully the Key Features relating to or a Stocks and Shares ISA invested in the Merlin funds. Each fund has different risk levels and some are more volatile than others. The Key Features set out the risks, charges, cancellation rights and terms of the investment. Do not invest until you have read this information.

  3. Complete the Form

    Download and complete the Jupiter Stocks and Shares ISA Application and Execution-only Statement. Ensure that your signature is on both the application form and cheque. Receipt will be acknowledged and your discount confirmed.

  4. Income Withdrawal

    If you require income remember to include your bank details, if not any income derived from your ISA will be reinvested automatically.

  5. Pay the Bearer

    Make out your cheque to Jupiter Unit Trust Managers Ltd. Personal cheques must be drawn on an account bearing your name. If the cheque is drawn from your building society account, please ensure your name is shown as the reference or it will be returned in compliance with Money Laundering Rules.

  6. Post

    Return the application form to us by posting it to:

    The CFM ISA Discount Service
    Freepost, CL1327
    81 Springfield Road
    Chelmsford
    CM2 6BR

  7. Receive

    On receipt we will send you an acknowledgement confirming receipt.

  8. Transfers

    To transfer your existing ISA to a Jupiter Merlin Fund, complete the Jupiter Stocks and Shares ISA Transfer Application Form as well as a transfer authority, remembering to sign (the forms must carry an original signature) and post both to The CFM ISA Discount Service who will arrange the transfer. Receipt will be acknowledged and your discounts confirmed. Do not cash in your ISA and send a cheque as you will lose your valuable tax benefits.

  9. Read Buy an ISA

Last Updated on Wednesday, 12 May 2010 12:53