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.

 

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It's a new tax year ...

Tuesday, 21 April 2009 07:54
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Now might be a good time to transfer your cash ISA to a stocks and shares ISA ...

In March 2009 the Bank of England held the base rate at 0.5% and recent evidence (Defqto 2009) shows that cash ISAs are now paying an average 0.85% rate of interest. Unfortunately the situation looks unlikely to improve in the short term.

So what's the alternative? Now might be a good time to transfer your cash ISA to a stocks and shares ISA.

Chelmsford Financial Management LLP (CFM) offers a Jupiter Merlin Funds ISA Discount Broking Service for the confident investor who knows the type of ISA and fund in which s/he wants to invest. All business is done on a 'direct offer/execution only' basis. This means that we do not offer advice on whether the Jupiter ISA (Merlin Funds) is suitable for your circumstances. See Execution-only Statement

The CFM ISA Discount Service enables you to buy Jupiter Merlin Funds at a cheaper rate than if you bought directly from Jupiter. CFM's discount consists of 66% of our initial commission plus the 1% discount currently available to clients of CFM from Jupiter. In effect this is a 100% discount of normal commission, similar to other discount ISA offers. It is because we offer no advice that we are able to offer a generous discount. Any part of the commission we retain is to cover our costs for processing your investment business.

Our aim is to make the ISA discouint broking investment process as smooth as possible by providing a professional and efficient service. CFM will act as your agent on your investment so that it is set up correctly.

Confused? ISAs Explained.

By downloading the Jupiter Stocks and Shares ISA Application you are confirming that you have read and accepted the Client Agreement, Key Features, Fact Sheet, The CFM ISA Discount Service key facts about out services and Execution-only Statement.

Last Updated on Monday, 23 May 2011 11:46