Pension Withdrawals

Pension Withdrawals hit record in Q4 2018

Matthew Barrand Pensions

Payments made under the pension reforms of 2015 have steadily climbed and hit 628,000 in the final quarter of last year, up from the  121,000 in the second quarter of 2015 when the reforms took effect. Interestingly, the average withdrawal dropped to a record low of £7,197 in Q4, down from £7,597 in the  previous quarter. This could be a …

Continuing changes to Buy to Let taxation

Matthew Barrand Mortgages

The changes to how rental income from buy to let  properties continues to evolve and has moved into its next phase. Entry into a new tax year has prompted several  questions from clients, so we thought it would be  wise to recap on how you may be affected. As advised in previous newsletters, the deduction of  finance costs, including mortgage …

Maturing Child Trust funds to retain tax advantaged status

Maturing Child Trust funds to retain tax advantaged status

Matthew Barrand Investment

Maturing Child Trust Funds will keep their tax-advantaged status on maturity under draft regulations that have been published for  consultation. A Child Trust Fund (CTF) is a tax-advantaged  savings account which provides children born between 1 September 2002 and 2 January 2011 with an asset when they reach adulthood. CTFs begin maturing in  September 2020 when  the first children reach 18. Without …

Making the annual allowance work for business owners

Making the annual allowance work for business owners

Matthew Barrand Retirement

Running a successful business is hard work, so it’s  understandable that most entrepreneurs are much  more focussed on the here and now rather than  planning for their retirement. As business fortunes fluctuate, this is where carry  forward can come to the rescue. In more prosperous  years, it allows clients to play ‘catch-up’ by paying  much larger contributions into their pensions …

Innovation and flexibility drive equity release growth

Matthew Barrand Blog, Equity Release

Product options more than double in 2 years: 139 in August 2018, up from 58 in 2016. Number of homes in England bought with a gift or loan from family or friends reaches a new high of 1.1m. New Customer numbers driven by increased product flexibility and more competition in the market as people seek to meet pressing social needs …

Colombians

UK pensioners get a worse deal than Colombians

Matthew Barrand Blog, Pensions, Retirement

Pensioners in the UK languish way down the table when it comes to the quality of pension  provision offered to the poorest and the self-employed. They’re worse off than counterparts in countries like Colombia, Chile, Australia and Germany. However, they do enjoy better benefits than those available in France, Italy, Spain and the US.  This article was featured in a …

Using Equity Release to purchase a new home

Matthew Barrand Blog, Equity Release

Chris Davies (71) and his wife Ruth (70) have lived in the same property for 34 years. Chris has started to suffer with arthritis and has found that negotiating the stairs in their home and the general maintaining of the property more and more difficult. Because of this, they have been looking at moving to a bungalow in the same …

Seeing the bigger picture

Matthew Barrand Blog, Investment

A long-running survey carried out by thinktank the International Longevity Centre found that those who took financial advice between 2001 and 2007 had significantly higher savings than those who did not. If you’re approaching retirement, having a financial MOT now could help you put in place the plans you need to provide effectively for your financial future.  This article was …

Under 35s account for 90% employment growth

Matthew Barrand Blog

Employers should take advantage of annual tax-free allowance of £500 per employee for financial advice and guidance. The latest Office for National Statistics (ONS) Labour Market figures have highlighted the growing need for employers to provide financial wellness and guidance advice to their staff.  According to the ONS, under 35’s accounted for 90% of employment growth in the last quarter, …