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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Frequently Asked Questions

Thursday, 22 January 2009 13:19
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Do I send all correspondence to The CFM ISA Discount Service?

Yes.

Following receipt of my application, when do you send my application to Jupiter?

All applications are acknowledged by CFM on the day of receipt and all applications are sent to Jupiter, also on the day of receipt.

Can I use a building society cheque for my investment?

Yes, you can but you must get your building society cheque referenced with your name(s) or it will be returned by Jupiter, as Jupiter will not accept unreferenced building society cheques.

Will I receive commission into my investment or will you rebate it to me by cheque?

The commission will be re-invested automatically into your investment.

By using The CFM ISA Discount Service, am I able to improve on the terms I would receive by going direct to Jupiter?

Yes. Usually if you deal direct with Jupiter it would simply retain the commission for itself without passing any benefits to the investor.

How does The CFM ISA Discount Service make its money?

The CFM ISA Discount Service will take 1% of the initial commission generated plus the 0.25% trail commission. CFM ISA Discount Service will rebate 66% of the initial commission to you and this will have the effect of reducing the charges of your investment. For arranging your ISA investment via Jupiter, The CFM ISA Discount Service will receive initial commission of £10 on each £1,000 invested and will receive trail commission of 0.25% of the fund value. If your funds were worth £1,000 we would receive £2.50 each year. Commission is payable out of the disclosed plan charges and is not an additional deduction.

Will I automatically be placed on your mailing list to receive details of special offers or new products?

Yes, unless you ask us not to include you on our mailing lists. If you do not want to be approached in this way, please notify us via our contact us page.

Read our Execution-only Statement

Last Updated on Friday, 12 June 2009 10:18