News and Views
ISA Allowances for 2012 - 2013
From 6th April 2012 the annual ISA investment allowance will be raised to £11,280. Up to £5,640 of that allowance can be saved in a cash ISA. The remainder of the £11,280 can be invested in a stocks and shares ISA with either the same or a different provider.Cycle 127 miles per day for 4 days........this is the challenge I accepted
Adam Fearn, partner in Absolute Financial Services LLP, has accepted the challenge to ride his bike on average 127 miles per day for 4 days (that means spending between 7 & 10 hours on the bike each day)
Adam has signed up to cycle the prologue and first 4 stages of the Tour de France in June 2012, 7 days before the professionals start their epic journey (clearly he is going to show them how it’s done!). This amounts to cycling 822 km over 4 days (or 510 miles in old money).
He is doing this on behalf of a charity called William Wates Memorial Trust www.wwmt.org , which is a small charity designed to help disadvantaged children fulfil their potential and stay away from a life of crime by motivating them through sport, education and art. Please visit their website to find out more.
Adam needs your help in raising a minimum of £1200 for this very worthy cause. Please donate generously as every penny helps (and please use the gift aid element if you can). You can sponsor Adam via the following link
http://www.bmycharity.com/adamfearn
He also intends to set up some form of blog so you can follow his suffering during the challenge.
Lifetime allowance is reducing from 6th April 2012 - secure the higher rate whilst you can
The standard lifetime allowance (SLA) is the maximum total amount that can be held in pensions, where no transitional relief applies.
In 2011/12 the SLA is £1.8m - this will be reduced to £1.5m on 6th April 2012 as part of the Governments plans to restrict pension tax relief.
No need to take pension benefits at age 75
There is now no longer a statutory requirement to take pension benefits before reaching age 75. This means you are no longer forced to purchase an annuity or move into unsecured pension (drawdown). However, there is still a requirement to undertake a benefit crystallisation test at age 75.
Coalition Agreement
The Conservatives and Liberal Democrats Coalition Agreement was published in May 2010. For your information and a reminder of the proposed changes, please follow the link.
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