We hate to be the ones to say it, but now probably really is a good time to start watching your pennies in readiness for Christmas. We know it’s in December but for those who are paid monthly it’s 4 or 5 pay packets away (depending on exactly when you get paid). Looked at from that perspective, it makes sense to start saving now, even though (hopefully) it’ll be some time before the carols start playing. To help you get started, here are 6 really obvious ways to save money. Cull regular expenses you only use occasionally (or never). Gym memberships are the obvious example of this. While pay-as-you-go rates can work out more expensive for those who go to the gym several times a week, for those who go less often, they can actually work out cheaper, plus there are lots of other ways to exercise both indoors and outdoors, without the need to pay regular fees – even for those who live in shared accommodation and studios. Subscriptions are another category to check, magazines, online entertainment sites, food parcels, if you’re not getting full use out of them, then unsubscribe. Eat more home-cooked food Eating out can be fun, but meals out, take-aways and ready-meals all cost more than food prepared at home. Even buying ready-to-use ingredients such as jars of pasta sauce generally costs more than buying the ingredients and making them yourself. We appreciate that if you don’t like cooking it can be a chore to come in tired after work and then have to make yourself something for dinner and then prepare a packed lunch for the next day (or do it in the morning when you’d rather be in bed) but you can break yourself in gently. Even if you start by only cooking at the weekends, freezing a couple of portions and making one packed lunch for Monday, you’ll still be starting to save the pennies and as you get better at cooking and managing shopping, you may find you can do more than you thought. Learn to ignore food packaging and to look at ingredients instead Premium food brands with high-quality, attractive packaging may indeed be worth the extra money – or they may not. A look at the ingredients should give you a good idea as to whether or not the higher price is justified. For basic items you may well find that supermarket own brands and such like are every bit as good as their more expensive counterparts. Use up what you have before you buy the same or a similar item If you have a drawer full of T-shirts, you don’t actually need any more no matter how good they look or what a good price they are. If you’re a (paper) notebook lover and you already have a stack of them, you don’t need any more, even if they’re on special offer. Basically if you already have a stock of something, whatever it is, use it up first before you buy any more. Be suspicious of special offers Some special offers can be very good value, but some simply tempt us to spend money on items we would otherwise have ignored. It doesn’t matter how cheap something is or what a good discount it is, if you don’t really want it and won’t actually use it or are only using it because you’ve bought it, then it’s probably a waste of money. Learn to love pre-loved New may be nice but pre-loved can be much more prudent financially speaking. In particular, if you know you don’t actually need to very latest model of phone/tablet/other consumer electronics item, then you can potentially make meaningful savings by going for a refurbished “last generation” item.

At this point in time, the economy seems to be dominated by one word “Brexit”. While the whole country is waiting to see what exactly will happen when, it’s difficult to make any sort of predictions for the future, so instead we’re focussing on the present with our 10-minute guide to the economy. The housing market A mortgage is a long-term commitment and as such both the lender and the borrower need to feel confident that the latter will be able to keep up with the repayments over the long term. Jitters over potential job losses, particularly in the banking sector and fears that falling demand (due to reduced immigration and/or the repatriation of current immigrants) are unhelpful for the mortgage market and therefore unhelpful for the housing market. The financial sector For better or for worse the FIRE (Finance, Insurance and Real Estate) sector plays a key role in the UK economy. At the moment, it is an open question whether or not the financial services sector will hold on to its coveted passports, which enable them to sell their products and services throughout the entirety of the common market. It is also an open question as to whether or not they will continue to be able to process transactions in Euro from the UK. Some banks, such as Lloyds, have already announced job losses in the UK, although it is unclear whether or not this is directly (or even indirectly) connected to the issues surrounding the Brexit. Online banking and the move to digital payment methods (such as Visa, MasterCard and PayPal) has reduced the need for customers to visit branches, while demographic movements can see formerly busy branches losing customers to other locations. The Bank of England (interest rates). The Bank of England has made it clear that it will do everything it can to keep the good ship UK PLC on a steady course, even if it is through uncharted waters. The BoE essentially has two key weapons at its disposal, the option of making low-priced (or even free) credit available to banks (which, in theory should be passed on to businesses and other consumers) and interest rates. Its challenge is to provide enough stimulus to keep the economy moving without providing so much that investors get nervous about the state of the UK economy, which could lead to the UK having its credit rating downgraded, thereby making it more expensive for the UK itself to service debt. At the moment, the BoE is essentially feeling its way through a new situation along with everyone else and only time will tell how well it will manage its task. The retail sector The big news in the retail sector has arguably been the demise of BHS, however given the history behind that company’s woes it would be very difficult to pin this on Brexit. Likewise Marks and Spencer’s clothing arm saw dismal sales in the first quarter of 2016, prior to the result of the referendum and it remains to be seen how well Marks and Spencer will address the issues which led to this. The issue facing the retail sector is, of course, that it relies on consumers spending money, which means that it relies on consumers having money to spend. If consumers are uncertain about their job prospects, then it is entirely possible that they will rein in their spending, which, of course, hits retailers who specialise (or generate significant income) from discretionary purchases. For this reason, any weakness in the pound is bad news for companies which rely on imported goods (or on imported materials to make goods at home) as this increases the effective price, which means that vendors have a choice between cutting into their own margins (if they have room to do so) or passing the cost onto consumers and accepting that this may make them less attractive.

Although it may not seem like it at first, interest rates really are interesting. High rates are great news for savers but bad news for borrowers and vice versa. Regardless of whether you’re a saver or a borrower, it’s important to understand 4 key points about interest rates. For savers interest rates are in a race against inflation Life is often a balancing act between conflicting goals and possibilities. In financial terms, this generally boils down to risk versus reward and/or cost versus benefit. Higher-risk investments can offer the possibility of great returns but, pretty much by definition, there is also the possibility of losing your initial investment. Cash savings can be viewed as safe in the sense that there is a relatively low risk of the saver losing their deposit, but if inflation (the cost of living) outpaces interest rates (the return on investment), savers can find their nest egg losing its value in real terms. This can be particularly challenging for older people on fixed incomes (pensioners) who do not necessarily have the long-term investment horizon of the younger generation but who do have a need for a reliable source of income to maintain themselves. The interest rates available to consumers may be completely different to central-bank rates About once a month, the press reports on the activities of the Monetary Policy Committee of the Bank of England, which sets the Bank of England’s interest rates. These are the rates charged (or paid) to banks which borrow from or deposit with the Bank of England. These rates may then feed through into consumer products such as savings accounts, mortgages and credit cards, some of which track this base rate. Some products, however, are fixed-rate and hence are unaffected any changes to the interest rates set by the Bank of England for the life of the fixed-rate deal. The key point to understand is that the interest rates offered to consumers are influenced by a number of factors as well as the base rate. Some of these are generic, such as what the banks think of the economy in general. Some, however, are specific to each individual, such as their credit history. Then, of course, there is the simple fact that banks need to pay their own bills and make a profit for their shareholders. The same product can have different interest rates, applied in different ways Credit cards in particular can charge different interest rates for purchases and cash advances (this is in addition to any fees they charge on cash withdrawals). In addition to this, the interest levied on purchases may be applied after a grace period, whereas the interest levied on cash withdrawals may be applied straight away, even if it is only actually charged when the monthly statement is created. If you would like to check this then it should be make clear in your terms and conditions, although you may find it easier just to send a message to your lender’s customer-service team to put the question to them directly. Interest can be simple or compound With simple interest, the interest payments are calculated purely on the basis of the initial sum deposited or lent. So, for example, if you deposit £100 then the interest you receive will always be based on that initial £100. With compound interest, however, interest is calculated on a rolling basis. Hence for example, if, after the first year you had received a total of £10 in interest payments, your next year’s interest payment would be calculated on the whole £110 rather than just the £100 you initially deposited. This is great news for savers but, of course, terrible news for borrowers and is part of the reason why those who take out high-interest credit can wind up paying more in interest than they borrowed to begin with.

It was the result which took the bookmakers by surprise. Maybe it would have been different if the weather had been dry and sunny in the South East of England. Since you can’t run history twice, we’ll never know. What we do know is that the UK as a whole voted to leave the EU, so let’s look at what that means in practical terms for those seeking to take care of their finances. Impact on the Pound The pound dropped in the run up to the referendum, but began to climb again as polls indicated that the Remain camp had secured a significant lead. Notwithstanding this, the news carried stories of panicked travellers queuing to secure their holiday funds before a potential Brexit saw a drop in the value of the pound. Brexit is now confirmed and it is only to be expected that, in the short term at least, it will have an impact in the value of the pound. A drop in the value of the pound is, of course, bad news for holidaymakers (and the companies which serve them) and it’s bad news for those who depend on imports. On the other hand, it makes the UK a cheaper holiday destination for people from overseas and it’s great news for exporters. Impact on Business as a Whole Obviously any impact to the pound could have a knock on impact to UK-based companies. Those that benefit from a strong pound could be hurt by a fall, whereas those who aim to attract custom from overseas could benefit from it. Access to the EU’s single market is a more interesting issue. The Remain campaign touted it as one of the major benefits of membership. The Leave campaign, however, pointed out that trade is (or should be) a two-way street and that countries which set up trade barriers against UK exports can expect to have their own exports treated the same way. How this works out in practice remains to be seen. It also remains to be seen what impact this will have on the highly-controversial TTIP(The Transatlantic Trade and Investment Partnership). In the short term, it is highly likely that there will be a drop (or at least volatility) in the stock market; this could open up a window of opportunity for investors to find bargains amongst companies with solid fundamentals, which have simply been caught up in economic turbulence. Impact on the Financial-Services Sector At the moment UK financial institutions can operate across the EU under one licence (or passport), whether or not they retain this ability depends on a number of factors. If the UK moves, more-or-less seamlessly into the EEA/EFTA then it could feasibly be business as usual. If not then the UK would have to negotiate specific agreements with its former EU partners. Given the strength of the UK’s financial-services sector and the fact that European rivals would presumably love the opportunity to take over business from them, then this might prove trickier than negotiating trade agreements. Impact on the Housing Market If the UK’s population drops then it seems a reasonable assumption that the demand for housing (to buy or to rent) will also drop and since prices in a free-market economy are a function of supply and demand, it therefore follows that prices for accommodation will also drop. As is so often the case in life, there are winners and losers in this situation. While sellers and landlords may regret the reduced demand, the plight of “generation rent” and “would-be first-time buyers” has been a constant source of news topics and any fall in house prices (or rental prices) would presumably be welcomed by them. As with all changes, it makes sense to not make rash decisions based on yesterday’s vote but to take a view on what’s happening and keep an open mind. There will be initial fallout – for instance the drop in the pound but over the next few weeks the dust will clear and ways to move forward will become clear.

On 23rd June, the UK will go to the polls to decide whether or not to remain as part of the EU. At this time the end result would appear to be anybody’s guess. If there is a Brexit, what impact could it have on commercial property investment? Demand might be severely impacted Immigration is undoubtedly one of the hot topics in the Brexit debate. On the one hand there are a number of EU immigrants currently living in the UK, who could potentially (but not definitely) find themselves being required to leave if the UK chooses to exit the EU. On the other hand there are a number of UK nationals living in the EU, who could potentially (but not definitely) be obliged to return home if the UK chooses to exit the EU. From a property-investment perspective, the worst-case scenario would be the EU immigrants being forced to leave without the UK nationals being obliged to return. While this would seem unlikely on the face of it, it could not be completely ruled out since many of the UK nationals living abroad are retirees, who are not competing in the local job market. There could be a flood of property on the market If EU immigrants are obliged to leave the UK then those who are housed in rental property will need to terminate their rental contracts. EU immigrants who are owner-occupiers may choose to sell their property or they may choose to hold onto it and become landlords themselves. This, in and of itself, may not necessarily be bad news. A short-term glut of supply could become a buying opportunity, although it’s always worth remembering that there is a difference between low-priced and a bargain. Investors always need to be looking for quality property with the right features rather than just grabbing properties which are “priced to sell”. There could be a shock to lending Mortgage lending is at the core of the housing market and even those who have sufficient funds to operate purely out of their own funds can find themselves being affected by it. In simple terms, the more relaxed lenders feel, the more likely it is that there will be competition for the best properties since it will be easier for people to buy them with the help of mortgages. Conversely the more anxious lenders feel, the easier it is for cash buyers to build their own portfolios without competition from people who need mortgages. Also, when it is difficult to get a mortgage, people are more likely to rent, if only because they are unable to buy, which creates further demand for rental property. A Brexit could trigger a second independence referendum in Scotland During the independence referendum in 2014, much was made of the fact that an independent Scotland could not consider itself guaranteed membership of the EU. While it is unclear what impact (if any) this ultimately had on people’s voting choices, however many pro-independence commentators in Scotland have argued that it was such an important plank of the “No” campaign that a vote for Brexit should trigger a second referendum in Scotland, particularly if the majority of the people in Scotland vote to remain in the EU, but are, effectively, over-ruled since England has a much more substantial population. This could raise a whole new set of questions relating to a potential new relationship between Scotland and England, which, as a minimum, could create uncertainty in the property market, at least in the short term. As always, however, it’s important to remember that property investment is a long-term game and issues which create short-term volatility or other challenges are generally resolved over time.

The reality of the potential Brexit is that nobody can know what it will mean in practice until it happens (if it happens). In some ways, the result of the referendum may have very little result on financial planning. Regardless of whether or not the result of the vote is to leave or to stay, mortgages will still need to be paid, retirement savings organised and healthcare managed. There are, however, some, perhaps unexpected, ways in which a Brexit could impact your finances, particularly if you travel in Europe. These issues may make little to no difference in terms of the overall economic debate since many of the issues raised will apply equally to people from the EU travelling to or otherwise working with the UK, but they may impact on the finances of particular individuals. 1 - Payment for visas At the moment the EU is technically a superstate without borders. If there is a Brexit then countries may require UK citizens to have visas to pass through their borders. Of course, these visas may be issued for free or for a nominal charge, however UK citizens would still need to be aware of the requirements for them and the need to check for them might impact on transport arrangements, e.g. the requirement to arrive at international train stations in time for checks to be undertaken. 2 – Roaming charges for mobiles/tablets In a similar vein to borderless travel, the EU has regulated charges for travellers who roamed between networks within its borders. This regulation applies to calls, texts and data and essentially aims to minimise the impact of moving across national borders. If the UK were to leave the EU then travellers could find themselves in the same situation as when travelling outside the EU at the moment. 3 – Increased cost for goods from the EU/delivering goods to the EU The EU is a free-trade area, which means that individuals and businesses can send goods (and services) across intra-regional borders without any customs duties being paid. If the UK leaves this free-trade zone then the buying and selling of goods across national borders may become subject to customs charges. In addition to the fees themselves, this may cause the shipment of physical goods to take longer and become more burdensome to the sender and/or recipient, as they may need to manage customs declarations. There may also be the complication of dealing with different sets of legal systems, rather than having one set of pan-EU rules, which, again, may add to costs. 4 – Increased cost for travel insurance At this point, travellers within the EU can access local healthcare services on the same basis as local residents. All that is required for this is an EHIC card (European Health Insurance Card). This reduces the potential liability for travel insurance companies. Again, if the UK withdraws from the EU, it may cease to be possible for travellers to make use of this system which could have an impact on the cost of travel insurance. 5 – Increased cost for using payment cards within the EU Financial institutions which issue payment cards such as Visa and Mastercard, set their own fees and charges, which reflect the costs they pay themselves. At the moment, even though the UK is outside of the Eurozone, it is part of the EU itself and therefore banking and other financial services work on the same free-market basis as other goods and services. In the event of a Brexit, this may mean increased costs for UK financial institutions when they do business in the EU, including when their payment card holders use their cards in EU countries and this may result in higher charges for using cards overseas.

Budget 2016 is now upon us and we can finally see the main budgetary issues for the year ahead. Here are the key points which could affect personal finances. 1 – A New Sugar Tax “Sin” taxes are nothing new with taxes on alcohol and cigarettes having been in place for years. The latest food item to go on the tax “naughty list” is sugary drinks. To be introduced in about two years, there will be two bands depending on the level of sugar in the drink. In England and Wales, the money raised will be used to provide increased funding for sport at primary-school level. The devolved governments in Scotland and NI will decide themselves how the funds raised in their respective jurisdictions will be spent. 2 – Smokers Also Feel the Pinch With a 2% increase on the price of cigarettes and 3% on the price of rolling tobacco, smoking has just become an even more expensive habit. Alcohol however escapes tax increases with freezes across the board on the duty payable on beer, wine and spirits. While the purported aim of this freeze is to help pubs, those who like a tipple of any sort. 3 - Fuel Duty Stays Frozen It has been several years since fuel duty was last raised and so the continuation of the freeze was hardly a surprise. While the biggest beneficiaries are, of course, the heaviest users of fuel, such as transport companies, fuel costs feed into the everyday expenses of people in the street too. Leaving aside the cost of motoring, fuel costs affect how much it costs to transport staple items such as food from A to B and therefore how much is costs in shops. 4 – Sharing Just Got More Attractive There are now two separate allowances (of £1K each) for micropreneurs engaged in trading and/or earning income from property, meaning that individuals could potentially make up to £2K tax-free income from occasional activities such as trading on eBay or letting out driveway space. Of course, these activities would still be subject to all relevant regulations and any local-authority restrictions. It should be noted that the definition of trading is essentially the provision of goods or services, which extends beyond simply running an online micro-business. It could, for example, feasibly cover more traditional business types such as hostess parties and other forms of direct sales. It could also make it possible for those with hobbies to earn some income from their handiwork, e.g. by opening up an etsy shop. 5 – Class 2 NICS Are Mixed At current time, the self-employed are required to pay Class 2 NICS on profits of £5,965 or over and Class 4 NICS on profits of £8,060 or over. As of April 2018, Class 2 NICS will be abolished and Class 4 NICS will be reformed, although the shape of the reform has yet to be made public. This again could be of assistance to those who have an “extra” or “side” income such as those who have a self-employed job in addition to a main job or those who only earn a small amount e.g. by working a small business alongside childcare commitments. 6 – A Premium Tax on Insurers Whether or not this is good news may depend largely on where you live. A premium tax on insurance companies will be used to pay for new flood defences and the improvement of existing ones in England. If insurance companies choose to pass on this cost to customers in the form of higher premiums, then those outside of flood-prone areas will essentially find themselves paying higher insurance costs to protect those in higher-risk areas.

A relevant life plan is an in case of death in service insurance scheme for an employee paid for by the employer.  It is designed to pay out a lump sum should the employee die or be diagnosed with a terminal illness. Should a small business be looking for new high level staff it can be offered as part of a benefits package. It is best suited to Directors wishing to provide their own individual ‘death in service’ benefits without having to take out a scheme for all employees and high-earning employees who’s ‘death in service’ does not form part of their ‘lifetime allowance’ (£1.25 million 2014/15) This scheme is not suited to sole traders or where this is no employee-employer relationship. Tax Benefits The policy has tax benefits for both sides:- Employer benefits: corporation tax relief (so long as the premiums are wholly and exclusively for the purposes of the business); and no National Insurance contributions to pay on the policy payments paid to fund the Relevant Life policy.Employee benefits: no National Insurance contributions to pay on the policy payments paid to fund the Relevant Life policy; the policy payments won’t be taxed as a benefit in kind; and policy payments and benefits don’t count towards annual or lifetime pension allowances.(source https://www.aegon.co.uk/advisers/protection/relevant-life.html) Rules There are a number of rules to qualify as a single person relevant life policy. The policy must only provide a lump sum benefit on death payable before the age of 75. The plan must solely pay out on death and have no serious or critical illness cover included. The plan must not have a surrender value. Any benefit payable from the policy must only be payable to an individual or a charity. The main purpose of the relevant life policy should not be for the avoidance of tax. How much cover can you have? The sum assured with a relevant life policy is similar to that of a death in service package and it is also based on a multiple of reimbursement. For a company director the definition of remuneration is based on salary plus dividends plus bonuses etc. These multiples can vary from provider to provider and depend on the age of the director being insured. Trustees The Relevant Life policy requires the employer to provide a trust for the benefit of the employee’s family. This will help to complete all legal requirements for a Relevant Life policy and also in most cases, it should help to alleviate inheritance tax. How to Get Insured You can obtain a relevant life policy from most UK insurers, however there is no set premium or cover. All things will be taken into consideration such as your occupation, general health and the lifestyle that you lead and these may affect how much an insurer will charge and the terms of the policy. It makes a lot of sense to seek specialist advice when considering relevant life insurance.. An advisor will be able to recommend the best value cover for your specific circumstances and go through the savings you can make when compared to personal cover.

According to the latest research under-40s could face a 148% rise in the cost of retirement living, over-45s also need to be prepared for financial shocks that could change their retirement plans. monthly retirement spending to rise from £1,183 to £2,930 by 2050 (For pensioners who do not rely on state pension) 42% of over-45s have not planned for financial set-backs in retirement Research by Royal London has revealed that today’s 35 year-olds need to have saved at least £666,000 by age 65 in order to secure the same standard of living as today’s pensioners. This is indeed a wake up call created by estimates predicting a 148% increase in retirement living costs by 2050. The research also found that today’s 30-40 year-olds have an average pension pot of £14,000. This represents a significant shortfall on the monthly income that will just cover the basic £1,715 cost of ‘essentials’ (such as transport, housing, food and energy) in 2050. But it’s not all bad news... Despite the above, there is good news, as the research also suggests the younger generation are no worse at planning for their future than those entering retirement today. It states that, 67% of 18-40 year-olds asked said they were saving for retirement (only slightly lower than the 68% of 65-75 year-olds who said they have a pension in place). The younger age group also displayed an awareness of the likely shortfall they could face at retirement, unless they up their pension savings. 57% of those in their 30s, and 51% of those aged 18-29, said they expect to work part-time after they ‘retire’ to supplement their retirement income, while 40% of under-40s predicted that the state pension will be a thing of the past by 2050. ‘Exposed generation’ risks retirement shocks Many current pension savers over 45 could be facing unexpected news in retirement as they too are underprepared. The most commonly-cited potential retirement ‘shocks’ among the over-45s included: Unexpected healthcare costs High inflation rates A stock market crash Falling house prices ‘Bailing out’ children When asked, it became clear that far from being oblivious to the risks 85% of those questioned were indeed worried about increased risks to their retirement dreams in the wake of this year’s pensions reforms. So what can you do about it? You can’t predict the future – but you can prepare for the unexpected. By building a personalised financial plan, and reviewing it regularly, you can take control of your future and give yourself a better chance of enjoying a happy and prosperous retirement that is able to withstand unexpected surprises.

One of the basic rules of thumb of property buying is that you want to be able to put down as big a deposit as you possibly can. One reason for this is that bigger deposits are looked on very favourably by mortgage lenders and can help you to get a better mortgage deal. In fact in the light of the Mortgage Market Review, the size of your deposit might make a difference to whether or not you get a mortgage at all. Help to Buy ISAs were created specifically to help first-time buyers put together that all-important deposit. What is a Help-to-Buy ISA? The term ISA stands for Individual Savings Account. It was originally created to describe a general savings and investment product, which was (and is) available to all adults resident in the UK. The defining feature of a Help-to-Buy ISA is that the government will top up each £200 the saver deposits with £50 additional credit, up to a maximum of £3000. To get the £3000 you would need to save £12,000, giving you a deposit of £15,000. That is per person, so if two (or more) people were to buy together, they could pool their allowances. It's important to understand that you can make a total contribution of £3400 in the first year after opening an ISA and then up to £2400 each year after that until you reach the cap of £12000. This means that you would need a minimum of about four and a half years of saving to receive the full £3000 credit. Who qualifies for a Help-to-Buy ISA? Help-to-Buy ISAs are intended to help adults (in this case defined as people over the age of 16) to buy their first home in the UK. The key words to note here are first and home. Help-to-buy ISAs are only available to first-time buyers who intend to live in the property they purchase. The terms of the scheme explicitly forbid it from being used to purchase a buy-to-let property but there is nothing forbidding it from being used in conjunction with the rent-a-room scheme in which landlords who are resident in a property can receive up to £4,250 per year tax free by letting out furnished accommodation in their main home. It should be noted that this allowance is per property, rather than per person. In other words, if a couple buy a flat together and let out the spare room the £4,250 allowance would be between them rather than each. Are there any catches to Help-to-Buy ISAs? Help-to-Buy ISAs can only be used to purchase a property with a price of up to £250K or £450K in London. That is to say even if the buyer can raise a deposit of more than £18K and/or has sufficient income to make payments on a higher-priced property, they will still only be able to use the funds from their help-to-buy ISA to buy a property up to the permitted price. Whether or not this is an issue in practical terms will depend very much on personal circumstances. Younger first-time buyers looking to buy a starter flat well away from London may find this more than adequate. Older first-time buyers looking for a family home in the Thames Valley area may find it more of a challenge to find something suitable on this kind of budget. It should also be noted that those saving for a deposit have to make a direct choice between a help-to-buy ISA and a normal cash ISA. It is only permitted to open one or the other in any given tax year. General https://www.moneyadviceservice.org.uk/en/articles/a-guide-to-help-to-buy-isas https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/413899/Help_to_Buy_ISA_Guidance.pdf Tax concessions are not guaranteed and may change in the future. We charge a fee of between NIL and 1% of the loan amount. Typically this will be £295. Your home may be repossessed if you do not keep up repayments on your mortgage.

The value of a state pension is set by the government. Currently it is based on the amount of National Insurance contributions retirees have paid during their working life. The value of a private pension pot depends on three basic factors. Firstly, how much money has been saved into it. Secondly, how long the money has been invested. Thirdly, how well the investments have performed. In both the state-run and private schemes, you may be given the opportunity to top up your contributions. If you are in this position, it is important to think carefully about whether or not this is a good choice. The State Pension National Insurance contributions are paid by people in employment (above a certain earnings threshold) and are paid by the government on behalf of those in receipt of certain benefits, e.g. Job Seeker's Allowance. Those who fall outside of these categories, e.g. people who take a gap year from employment but do not claim JSA, can sometimes choose to top up their state pension by paying contributions voluntarily. The first point to note is that you need 35 qualifying years of National Insurance contributions to claim the full new state pension. If you have fulfilled this requirement then regardless of whether or not there are “missing” years, you will still receive the maximum possible amount of state pension. There is a separate scheme which allows anyone who reaches state pension age on or before 5th April 2016 and qualify (this means they are entitled to the Basic State Pension or Additional State Pension and be either a man born before 6/4/1951 or woman born before 6/4/53) to buy up to £25 per week of extra state pension by making a lump sum payment on or before 5th April 2017. This is known as State Pension Top Up. If you have less than 35 years' NI contributions and/or are considering making use of the State Pension Top Up scheme, then there are two key questions to ask before taking a final decision. The first is: how much faith do you have in the long-term future of the state pension? Government schemes and benefits can and do change. Governments might prefer to avoid making changes which lead to state pensioners being worse off, but in theory at least, it is a possibility. The second is: what else could you do with the money? In other words, could you get a better return on investment elsewhere? Private Pensions Private pensions come in two basic forms – workplace pensions and personal pensions. Under current laws, all qualifying employees must be enrolled into a workplace pension unless they actively choose to opt out. Both the employee and the employer make contributions into the employee's pension fund (plus the contributions are eligible for tax relief), these contributions are then invested on the employee's behalf and released to them when they are due to retire. In this case the opportunity for “free money” from an employer does generally make a compelling case for making the most of any workplace pension scheme. As always you would need to ask yourself if you could make better returns elsewhere. If you do find an opportunity where you could feasibly achieve higher returns, the next question to ask would be whether it realistically offers a comparable lack of risk. Personal pensions do not benefit from employer contributions, but the fact that tax relief is available up to a certain level of contributions, means that saving for a pension can be an attractive way of planning financially for retirement. Up until recently, this had to be balanced against the fact that the majority of a pension pot had to be used to buy an annuity. This requirement has, however, been removed as part of a drive towards “pension freedom”. The result it that people currently saving towards a pension can make the most of the “free money” offered by tax relief, while enjoying a much greater degree of flexibility regarding what they can do with the resulting funds. For Pensions we act as introducers only. Info on state pension - https://www.moneyadviceservice.org.uk/en/articles/state-pensions Info on workplace pensions - https://www.moneyadviceservice.org.uk/en/articles/automatic-enrolment-into-a-workplace-pension Info on personal pensions - https://www.moneyadviceservice.org.uk/en/articles/personal-pensions

The NHS is part of the fabric of UK life and yet there is also a thriving private health insurance industry. Why is this and should you be looking at private healthcare insurance for you and your loved ones? Healthcare insurance may give you more control over when you are treated While TV dramas may focus on people being rushed to hospital in ambulances for emergency surgery, the reality is that accident and emergency services are only one part of healthcare. Other forms of treatment can be and are scheduled. Those with insurance may be able to take advantage of their cover to arrange for treatment at the time which is most convenient to them (or at least has the minimum inconvenience) rather than simply having to accept the slot allocated to them by the NHS. Likewise those with healthcare insurance may be able to see a relevant specialist more quickly to have their symptoms and/or concerns assessed. In other words, if there is a need for further medical treatments, this can be identified more promptly. Healthcare insurance may make it possible to access treatment at a more convenient location An obvious example of this is dental treatment. Private dentists may or may not accept NHS patients at all and if they do they may have limited spaces available for them. Having private health cover may make it possible for you to access a private dental clinic near to you rather than having to find the nearest NHS dentist with availability. Having private healthcare insurance may also make it possible for you to access purely private hospitals which do not accept NHS patients at all. Healthcare insurance may give you a higher standard of care By care we mean general care, rather than clinical treatment. As an NHS patient you may find yourself sharing a ward with other people and eating from a menu which is restricted for reasons of practicality rather than for clinical reasons. Having private healthcare insurance may enable you to have a private room and a better choice of food options. It may also mean you get access to amenities such as WiFi while you are in hospital, possibly making it easier to keep in touch with loved ones (or at least stave off the boredom of bed rest). It may even make it possible for you to receive visitors whenever you want, rather than being restricted to designated visiting hours. Healthcare insurance may offer treatment options outside of what the NHS can offer The NHS is designed to cater for essential treatment and to provide essential supporting equipment. The key word here is essential as opposed to simply beneficial. Private healthcare can help to bridge this gap. For example it may pay for extra physiotherapy sessions and/or help to upgrade you to a more comfortable wheelchair until you are ready to walk again. Would you and your loved ones benefit from health insurance? Ask yourself a simple question. If you did not have your health, how would you and your family cope? There are really two aspects to this question. One aspect is practical and in particular financial and the other is emotional. Taking steps to resolve practical issues and to ensure that you and your family are supported financially and can afford whatever you need to help you regain your health as quickly as possible, can go a long way towards mitigating the emotional challenges of dealing with health issues. In addition to private healthcare insurance, you may also want to look at other types of insurance to support you in periods of ill health such as payment protection insurance and critical illness cover. You may also wish to review your life insurance to make sure that those you love are adequately protected from the financial impact of anything happening to you.