Borrowers hit after interest base rate rise The Bank of England brought unwelcome news for borrowers this week as it raised base interest rates for the first time in two years.
Revenue clamps down on tax-free cash The Revenue has moved quickly to close a loophole that allowed holders of occupational pension policies to shift large amounts of tax-free cash from their retirement funds.
Let your agents do the legwork When it comes to buying houses it can take weeks of traipsing around dozens of unsuitÂable properties to find the one you like. If you want to stay one step ahead of the game, however, there are people who will do the work for you.
Moves to quit final salary schemes High-profile collapses of final salary pension schemes and reports about rising deficits are prompting thousands of people to transfer out of final salary pensions from former employers to safeguard retirement assets against a possible collapse of the co
Options still open to minimise IHT In spite of heavy protests from lawyers and accountants, the Finance Act incorporating chancellor Gordon Brown’s new rules on the taxation of trusts has just been given Royal Assent.
Government threat to restrict the alternatives The Treasury has thrown the pensions market into confusion by appearing to threaten the future of a valuable tax break for older people introduced in April.
Providers call for better deal on pension transfers Pension providers are calling for the government to give a better deal to pension fund members who transfer out of final salary schemes when new regulations come into force next year.
Fixing a fair fee for finance advice Figuring out whether the fees and commissions your independent financial adviser charges are fair can be difficult. Are the charges you are paying to invest in an annuity or unit trust appropriate? Could you find a more appealing deal?
Vehicles set to queue for property schemes After months of chaos and confusion following Gordon Brown’s U-turn last December, the first swathe of investors is starting to channel pension funds into residential property through new types of syndicates.
Lenders extend interest-free credit periods It is a rare thing in the current climate for lenders to make their offers more generous. But several banks have recently extended deals on credit card balance transfers.
Avoid going bust on the beach Before you flee the city this summer, take the time to plan your finances to ensure you do not return to late payment charges or surprising shortfalls in your investment portfolio.
Tax threat over lifetime pensions allowance Pension administrators could start deducting tax directly from people’s retirement funds to pay to HM Revenue & Customs if they are unable to contact investors.
‘Sippable’ is now the word for more than just fine wines On their own, wine, coins and holiday homes do not attract the tax perks of pensions. But a crop of funds is available for investors keen to guard these assets in their Sipps.
Ignore the freebies for a good financial education With the start of the next academic year approaching, many new students will be preparing for life away from home – a life likely to be based on record levels of borrowing.