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UK Financial Advice for Scotland, England, Northern Ireland and Wales.

Autumn Statement 2014: What You Need to Know For Your Finances, Pensions and Taxes

Hi everyone,

Budget time already?!

Not quite but it is that time again for the Autumn Statement…

George Osborne Autumn StatementYesterday the Chancellor delivered his last Autumn Statement in this parliament before the general election in May 2015.

It sets out the next stage in the government’s long term economic plan and brought in new changes that impact on many personal and corporate finances.

This snapshot summarises the main changes to tax rates and allowances for individuals, companies and trustees.

It should be used as guidance only and not considered as financial advice.

Therefore…

If you need to discuss anything in the article below please don’t hesitate to give me a call on 0800 321 3508 or direct to my mobile on 07803 508187 and I will be happy to help.

Okay, let’s cut to the chase…

Read more… The value of pension and investments and the income they produce can fall as well as rise. You may get back less than you invested. The Financial Conduct Authority does not regulate advice on tax planning




Budget 2013: How it Effects Pensions, Tax, Savings and Investments

Hi everyone,

Here’s my roundup concerning George Osborne’s 2013 budget yesterday and how it relates to pensions, tax, savings and investments. I hope it helps you see what you need to know…

  • Pension Drawdown: The limit has been restored to 120%.
  • Pension Allowances reduced from £50,000 to £40,000.
  • New Flat Rate State Pension of £144 a week starts 2016
  • Inheritance Tax Freeze until 2017/2018—£325K (£650K couples)
  • Annual ISA Allowance increases to £11,520.00
  • Stamp Duty Land Tax reduces; 15% to 7%—properties £2M+
  • Tax-Free Childcare Scheme from 2015—up to £1200 per child
  • Inheritance Tax Avoidance clampdown—GAAR kicks in
  • Income Tax: Personal Allowance up, basic rate band down

Pension Drawdown: 20% boost starting new week on 26 MARCH 2013. This means that by restoring the limit to 120%, income drawdown has been brought more into line with annuity rates, which is a good thing.

Pension Allowances: The pension annual allowance reduces to £40,000 and the lifetime allowance is cut to £1.25M starting with the 2014/2105 tax year.

However, move quickly because the “real” deadline is 6 APRIL 2013. This is because any contributions made after this date will suffer the reduced rate due to being in what is known as “The Pension Input Period” (PIP) that ends in the tax year 2014, (not the actual tax year if that makes sense). Please do contact your Financial Adviser for more detail on this if required.

Read more… The value of pension and investments and the income they produce can fall as well as rise. You may get back less than you invested. The Financial Conduct Authority does not regulate advice on tax planning




Avoiding Tax On Your Pension Contributions?

Hi everyone,

Today I want to highlight important pension changes, especially if you have been seeking to shield yourself from paying income tax on your annual pension contributions via registered family member schemes.

Recently the Government reduced the annual pension contributions allowance significantly. HMRC cut the allowance down from £255,000 to £50,000 for 2011-2012. From 2014-2015 this will drop even further to £40,000. It does not matter whether the contributions are being made by an individual or employer, these new allowance restrictions apply.

Read more… The value of pension and investments and the income they produce can fall as well as rise. You may get back less than you invested. The Financial Conduct Authority does not regulate advice on tax planning




Retail Distribution Review: The Benefits For Clients of Financial Advisors

Hi everyone,

I’m excited to announce that our industry has recently undergone the Retail Distribution Review, which came into effect in January, 2013. Today I’d like to cover how this will help you in making investment decisions, and outline the benefits the review will offer my clients.

By clicking on the above link, you are now departing from the regulatory site of IFS WM Ltd. Neither IFS WM Ltd nor Intrinsic Wealth Limited is responsible for the accuracy of the information contained within the site.

What is RDR?

Retail Distribution Review is a new fee schedule that seeks to…

  • Raise the standards of the industry
  • Ensure more clarity, with regard to different financial products
  • Allow for detailed costs to be shown up front, when dealing with a financial advisor

Read more… The value of pension and investments and the income they produce can fall as well as rise. You may get back less than you invested. The Financial Conduct Authority does not regulate advice on tax planning




Good News For Dunfermline

Hi everyone,

This post is a little off topic, but I hope you don’t mind me indulging myself a little because what I’m about to share is rapidly turning into something of an ongoing passion for me. If you live in Fife and love music and the arts, then you may find it of special relevance too.

Here in Dunfermline we have a rather special building… the old Fire Station. However, in recent years it has fallen into disrepair and neglect. As part of the founding team of a local Dunfermline charity initiative called the Firestation Creative, we have a determined vision to redeem the property, with a contemporary design, put it to good use and it give back to the community as an arts and music centre of excellence which becomes an ongoing thriving hub of local functional creativity.

Today I am pleased to report good news because Fife Council have agreed to take the property off the market while we spearhead the drive to secure business funding for the project so that work can begin in progress.

So far it’s been every encouraging to have the support of luminaries such as the Lord Provost of Fife, Jim Leishman and John Park MSP (see photo of Jim, John and I below) but what would be even better would be to have your support too.

William George Financial Advisor, Jim Leishman Lord Provost Fife, John Park MSP

If you have a moment or two please do visit the Fire Station Creative site or see this new article with a video (I speak at the 3 minute 44 second spot in it) over at www.dunfermlineandwestfifetoday.co.uk

By clicking on the above link, you are now departing from the regulatory site of IFS WM Ltd. Neither IFS WM Ltd nor Intrinsic Wealth Limited is responsible for the accuracy of the information contained within the site.

Here are the artist Ian Moir and Sarah Young both part of the Firestation Creative team along with myself. Click the image to visit the article and see the video too…

Dunfermline Firestation Creative Team Image

If you contribute in any way possible (even by liking us on Facebook or Tweeting about what we’re doing) we’d be very grateful. Many thanks!

Contact me by email here…




Financial Planning and Important Divorce Advice

Divorce Financial PlanningNo one who is going through a divorce finds the process easy: it’s long, messy and painful. Even if there are no children involved, divorce is a procedure that takes its toll on both sides; the acrimony, the paperwork, and the inevitable meetings with your solicitor.

It’s understandable that many people involved in a divorce want to minimise the number of meetings they attend and simply let the solicitors get on with sorting it out.

Unfortunately, trying to cut down on meetings could be a serious mistake. Divorces are not just about broken relationships, dividing up the family home and arranging custody of the children. Sadly, they’re about financial planning as well – and meetings with your independent financial adviser may turn out to be even more important than meetings with your solicitor.

Read more… The value of pension and investments and the income they produce can fall as well as rise. You may get back less than you invested. The Financial Conduct Authority does not regulate advice on tax planning




Investment and Tax

The value of pension and investments and the income they produce can fall as well as rise. You may get back less than you invested.

The Financial Conduct Authority does not regulate advice on tax planning.

Call William…

Free from a landline: 0800 321 3508

Or click to call to his mobile : 07803 508187

Financial Advice

William on BBC Radio

Here is an interview William gave on BBC Radio Scotland where he
spoke with Fred MacAulay and Karen McKenzie about Cash
and Investment ISA’s


Listen to the BBC show here

MP3 and PDF Financial Guides

Testimonials

"I have introduced many clients of mine to Billy as I have complete trust in his professional ability." Tom Queen, Solicitor - Thomas Queen & Co. Dunfermline, Fife.

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Dates and Times

NOTE: I have been writing articles here since 2007 so please take note the date of the article, because obviously, things like laws or tax allowances etc may have changed since then.

I do try my best to keep up to date, but I'm only an humble advisor and there are hundreds of my financial articles here! Please call or email if you need to double check something. I'll gladly help.

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