Category: Financial News

Safeguarding your home and assets from care costs The time when an elderly person needs to go into residential care is often a huge strain on family members. Illness or infirmity may have forced a sudden change in circumstances and time may be short.   Under the Community Care Act 1990, local councils have the… Continue reading Estate protection

Finances set between 2011 and 2015 based on government figures Current spending includes items such as salaries, hospital medicines, and school text books. Capital spending includes assets such as school buildings, roads and bridges. Business, Innovation and Skills Annual budget: £21.2bn Sending Review 2010 cut: Current spending down 25 per cent; capital spending down 52 per… Continue reading Spending Review 2010

Businesses will receive at least £150m in government funding to help them access loans and equity investments over the next four years. The additional funding will ensure the small firm’s loan guarantee scheme, called the Enterprise Finance Guarantee, will continue for four years. Further monies will be made available to ‘small businesses with growth potential’,… Continue reading The business guide

Careful planning can ensure your needs will be met whatever your circumstances We may not like to think about it, but a growing number of us will need long-term care when we’re older. If you’ve got elderly parents you may need to pay all or part of their care costs. The time when an elderly… Continue reading Paying for the provision of care

 Can you increase your pension income? If you suffer from certain medical conditions, or if you smoke, an impaired-life or enhanced annuity could significantly increase your income in retirement. Choosing to draw an income from your pension by purchasing an annuity offers a secure taxable income paid to you for the rest of your life by an insurance company and,… Continue reading Enhancing your income

 Your questions answered Q: Why is the government planning to end the default fixed retirement age? A: Many people are not saving enough for retirement and risk not having the income they would hope for if they retire at the ‘traditional’ age of 65. By working for one year past the existing state retirement age, currently 60 for… Continue reading What will the default retirement age changes mean to workers and pre-retirees?

An alternative approach to restricting pensions tax relief The cost of tax relief on pension contributions doubled under the previous government to an annual cost of around £19bn by 2008/09. The government confirmed in the Coalition Budget that it is committed to reform of pensions tax relief and would continue with plans that it inherited… Continue reading Tax-privileged saving allowance reduced

Encouraging drivers to choose cleaner and more efficient vehicles From April 2011, company car tax is to be reformed to encourage drivers to choose cleaner and more efficient cars. The threshold for the 15 per cent rate of tax will be reduced by 5g/km of CO2 – so it will apply to cleaner cars emitting between 121g/km and 129g/km… Continue reading Company cars

How to protect your family from financial hardship Choosing the right life assurance will enable you to protect your family’s lifestyle in the event of your premature death, help them cope financially and protect them from financial hardship. That’s why obtaining the right advice and knowing which products to choose – including the most suitable sum… Continue reading Choosing the right life assurance

What the proposed retirement rule reforms could mean to you The Chancellor of the Exchequer, George Osborne, announced during the Coalition Budget 2010 the removal of the obligation to purchase an annuity by age 75. Currently, the government is consulting on the proposed changes and further details will follow after a period. This announcement offers… Continue reading Further changes for ‘pension investors’ on the horizon