June 6, 2018

At Protect and Invest HQ we've been busy implementing some great features that we hope will make it easier for you to keep track of your finances, and will allow you to communicate with us more securely.

We are really pleased to announce that our Personal Finance Portal has now been launched, which is available both online and via smartphone app.

Here's some of the features of our Client Portal:

  • Communicate securely with your adviser, sending and receiving secure messages on your smartphone, computer or other device, and logging in with just your fingerprint (where supported by your device).

  • Securely receive documents from your adviser, and store...

March 22, 2018

Started in 1895 by a Priest, a Lawyer and a Social Reformer, the National Trust has grown into an amazing organisation in its 125 year history. Appreciated by many, it has 4.5 million members and around 60,000 volunteers who come together to help realise the Trust's cause.

With such a diverse range of properties spread throughout the UK, and so many events arranged by the Trust, there is sure to be something to keep you amused, whether simply wandering the impressive gardens of Hinton Ampner, negotiating the maze at Greys Court, or investigating one of the more unusual properties like lighthouses, gold and tin mines or the many miles of coastlines.

The N...

February 14, 2018

About a year ago, the Office of the Public Guardian reduced their fee for registering Lasting Powers of Attorneys to £82.

It has now been announced that individuals who registered their Lasting Power of Attorney before this time, but after 1st April 2013, you can apply for a partial refund of your registration fee. You’ll even receive interest at 0.5%!

The amount of the refund depends when you registered the LPA, as follows:

April to September 2013 - £54

October 2013 to March 2014 - £34

April 2014 to March 2015 - £37

April 2015 to March 2016 - £38

April 2016 to March 2017 - £45

If you qualified for a fee remission as a result of having a low income, you’ll qua...

January 3, 2018

We are delighted to announce that we have moved to our new offices in Newbury.

Our new address is:

3 Mill Court

Mill Lane

Newbury

RG14 5RE

Our new contact number is:

01635 800820

We look forward to welcoming you for a coffee in our new home!

Click here for a map of our new location

October 18, 2017

The Residence Nil Rate Band

By Michael Roberts – 18th October 2017

It was the Conservative government’s long held intention to raise the Inheritance Tax threshold to £1m. During the time of the coalition with the Liberals, this was not achievable however the Tories have, finally, just about achieved this policy objective with the introduction of the Residence Nil Rate Band on 6th April 2017.

In this first article of a two part exploration of the Residence Nil Rate Band (RNRB), I shall explain more about how this new measure is being introduced, and the basic qualifying criteria. As legislation often dictates, however, the RNRB is not as straightforward as...

September 25, 2017

From September 2017 HMRC will remove the need for some individuals to complete a tax return. To begin with, this will affect people who fall into the following categories:

  • new state pensioners with income more than the personal tax allowance in the tax year 2016 to 2017

  • PAYE customers, who have underpaid tax and who cannot have that tax collected through their tax code

All existing state pensioners who complete a tax return because their state pension is more than their personal allowance will be removed from Self Assessment in the tax year 2018 to 2019.

Going forward, HMRC will use the data it already holds to calculate how much tax is owed....

September 12, 2017

The Treasury has published its second Finance Bill of 2017 to legislate for proposals made in this year’s Budget that were abandoned when the Government called June’s General Election.
 
Key announcements include:

  • The money purchase annual allowance reduces to £4,000 (currently £10,000) from 6 April 2017. This limits the amount of pension contributions that can be paid by some individuals who have begun drawing benefits from their money purchase pension.

  • The dividend tax allowance reduces to £2000 (currently £5,000) from 6 April 2018. This will reduce the amount of dividends an individual can receive before they incur a tax liability.

  • The...

July 10, 2017

There has been much talk and speculation in recent years on the subject of changes to tax relief on contributions to pensions. Providing some clarity to this, the Secretary of State for Work and Pensions, David Gauke, said at a conference in London on 4th July that he didn't see “a particular consensus emerging” for an overhaul of retirement savings incentives.

He added “The idea of reforming pensions tax relief in the previous parliament was somewhat daunting and recent events haven’t changed that.” He confirmed that there was a need to look at long term challenges with the cost of tax relief but wouldn’t see any fundamental changes in the near fu...

June 9, 2017

Instead of the strong and stable government Theresa May had promised during her election campaign, the nation awoke this morning to news of a hung parliament and further uncertainty.

We have begun to receive analysis from some of our preferred investment partners about what the election outcome means for investors, and I have published these articles below. I shall add to these as further articles become available.

Nucleus/Tatton Investment Management

Quilter Cheviot

Seven Investment Management

Cazenove

As always, should you have any immediate concerns or wish to discuss this issue in more detail, please get in touch.

Best wishes,

Michael

Important Note

This art...

May 22, 2017

It's around this time of year that you start to receive numerous documents relating to tax; P60s showing how much you've earned, income statements showing interest and dividends on investments, and not forgetting the most mystical of all, the tax codes.

Tax codes are intended to notify firms who operate a Pay As You Earn (PAYE) system, such as employers and pension providers, the correct amount of tax to be deducted from individuals through the payroll system.

Royal London have produced a simple guide which explains the basics of tax and how tax codes work, including a few examples. You can download the guide at the following link:

Download Tax Code...

April 29, 2017

In the last Budget in March, it was announced that the Dividend Allowance of £5,000 would be reduced to £2,000 per year per person with effect from April 2018.

The Dividend Allowance allows an individual to receive an amount of dividends without paying tax, regardless of their other income.

Following the surprise announcement of a General Election to be held in June, certain pieces of legislation that were included in the Finance Bill have been dropped; and this is one of them.

Comment

This is good news for individuals who receive a large amount of dividends each year; particularly business owners who typically draw a low salary plus dividends.

However, we...

April 13, 2017

The Department for Work and Pensions has updated their guide entitled "Your State Pension Explained", which can be downloaded from the link below.

Your State Pension Explained

In our experience we have found a number of cases where individuals have not been credited with the correct number of qualifying years for the State Pension. We therefore strongly recommend obtaining a forecast and checking any years when you did not build up a credit. This can be done online, and my article at the link below explains how to do this.

Obtain your State Pension Forecast Online

Comment

If you are not yet in receipt of your State Pension, we would urge you to register for...

April 11, 2017

The new Investment Guaranteed Growth Bonds, announced by the Chancellor in the November 2016 Autumn Statement, have been launched today and are now on sale for 12 months, available online only.

As confirmed by the Chancellor in the Budget on 8 March 2017, the Bonds offer a rate of 2.20% gross/AER, fixed over a 3-year term.

The Bonds are available to those aged 16 or over, with a minimum investment of £100 and a maximum limit of £3,000 per person.

For more information about the Investment Guaranteed Growth Bonds, click here.

Comment

While these bonds may be "market leading", the rate is hardly enticing and is only narrowly ahead of the competition. Cer...

March 23, 2017

Due to the rise in numbers of applications, the Office of the Public Guardian (OPG) has confirmed that LPA registrations will have a reduced fee from the 1st April 2017.

The OPG has advised that the income it receives in registration fees now exceeds the cost of its service. The fee for a single application will drop from £110 to £82, and the fee for an application qualifying for remission (where the applicant has a low income) will now cost £41 instead of £55.

This will, in turn, increase LPA registration numbers further as this now becomes a more affordable undertaking for the wider population, a couple havi...

February 9, 2017

Very often, Financial Planning will not only assist with planning your own financial security during your lifetime, but also safely passing your wealth to your intended beneficiaries when you die. It is therefore a crucial piece of the Financial Planning jigsaw to ensure you have a current valid will in place so that your wishes are carried out, and your intended beneficiaries are not disappointed.

What happens if I don’t have a will?

It is often assumed that for a married couple, upon first death the survivor will inherit all of their deceased partner’s assets, however this may not necessarily be the case.

The situation can become more complex for indivi...

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