March 2014 - Charterbridge

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Monthly Archives: March 2014

Budget 2014 – Main Report

YOUR GUIDE TO THE BUDGET REPORT INCOME TAX NATIONAL INSURANCE CONTRIBUTIONS CAPITAL GAINS TAX INHERITANCE TAX CORPORATION TAX CAPITAL ALLOWANCES LIFE POLICYHOLDER/LIFE COMPANY TAXATION TAX AVOIDANCE AND EVASION PROPERTY TAX TRUST TAXATION SAVINGS AND INVESTMENTS PENSIONS TAXATION OF SHAREHOLDING DIRECTORS EMPLOYEE BENEFITS DOMICILE AND RESIDENCE CHARITIES CHILDCARE & CHILD BENEFIT APPENDIX – TAX FACTS AND […]

Don’t worry about rate rise, says Bean

Don’t worry about rate rise, says Bean Charlie Bean, a deputy governor of the Bank of England has argued that businesses should be confident that when interest rates rise it will be slowly and to a level below those of 2008. The Times, p. 40 Savings Banking & Finance The ABI has warned that reforms […]

The expensive dangers of acting without Power of Attorney

The recently published judgement in the case of JS v KB, [2014] EWHC 483 COP illustrates the dangers of making informal family arrangements for elderly relatives who lack mental capacity without first obtaining the requisite authority from the Court of Protection.   The broad facts of the case are that in March 2012, JS (the daughter) […]

Lifetime Allowance Charge and Family SIPPS

There are suggestions that next month’s lowering of the  lifetime allowance can be sidestepped by using family SIPPs.   As the deadline for the reduction in the lifetime allowance to £1.25m draws nearer, there have been a number of ‘creative’ suggestions about how the change can be dealt with, other than via the use of transitional […]

Planning to help support Childcare Costs.

The Family and Childcare Trust’s annual report suggests many parents pay more on childcare than on their average mortgage bill. With this in mind now may be a good opportunity to contact ‘older’ grandparents to discuss a range of financial planning opportunities to help fund for childcare costs for future grandchildren. According to the Family […]

Virgin Money’s profits jump on mortgage loans

Round Up Virgin Money’s profits jump on mortgage loans Soaring mortgage lending drove up profits in 2013 at challenger bank Virgin Money, the lender said yesterday. The bank, which was built out of the remains of Northern Rock, made a pretax profit of £179.4m in 2013, up 23.5 per cent on the year. City AM […]

RBS withdraws credit

Round Up RBS withdraws credit Royal Bank of Scotland has been accused of failing to support the recovery after official figures revealed that the taxpayer-backed lender withdrew £2.2 billion of credit from small businesses in the final nine months of last year, figures from the Bank of England’s Funding for Lending Scheme showed. The Times, […]