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If you are a member of the armed forces or a professional working within the MoD then you will be aware of how difficult it can be to obtain adequate Life Assurance to protect your family.
Most insurers cap cover at £250,000 and apply premium loadings of up to 1000% making cover both inadequate and in many cases unaffordable.
Through access to preferential underwriting Chartwell Financial Services may provide the answer.
Please click here to read more
by Jonathan Fisher on Tuesday January 31, 2012
by Richard Clarke on Wednesday January 18, 2012
When was the last time you heard from your investment adviser?
Has your adviser gone quiet since the “credit crunch” in 2008? If so, it may be in your interest to take a closer look at where your money is invested
What is your adviser’s role and what is their responsibility when managing your portfolio?
Has more than 12 months passed since your adviser last reviewed your investments?
Please click here to read our latest bulletin
Has your adviser gone quiet since the “credit crunch” in 2008? If so, it may be in your interest to take a closer look at where your money is invested
What is your adviser’s role and what is their responsibility when managing your portfolio?
Has more than 12 months passed since your adviser last reviewed your investments?
Please click here to read our latest bulletin
by Simon Daniels on Thursday October 27, 2011
Welcome to the autumn edition of our newsletter, financialSynergy. Even if the current economic conditions continue into 2012, as expected, there are still steps you can take to protect your own financial well being. Remember, even a basic level of planning can make a big difference.
Topics covered include;
• Pension planning for 2012/13
• Meeting the cost of care in old age
• Securing your income
• Financial year-ends
• Foreign FTSE & Investing in Europe
• The cost of education
• Have you heard of NEST?
Please click here to read more or download our newsletter:
Topics covered include;
• Pension planning for 2012/13
• Meeting the cost of care in old age
• Securing your income
• Financial year-ends
• Foreign FTSE & Investing in Europe
• The cost of education
• Have you heard of NEST?
Please click here to read more or download our newsletter:
by Richard Clarke on Friday October 14, 2011
From October 2012, the UK Government will introduce a new pension scheme to the UK as part of a bigger overall pension reform strategy – The National Employment Savings Trust or NEST.
UK employers will be required to automatically enrol employees into a “qualifying pension scheme”, with a minimum contribution of 3% pa for employers.
If this affects your business Click here to read on....
UK employers will be required to automatically enrol employees into a “qualifying pension scheme”, with a minimum contribution of 3% pa for employers.
If this affects your business Click here to read on....
by Jonathan Fisher on Thursday September 01, 2011
If you’re a company director and you have life assurance in place to protect your family, you could be paying more tax than you need to.
Relevant life policies are a way of providing death in service benefits on an individual basis no matter how small your business is.
What are the benefits?
- Although the company pays the premiums, they are not normally assessable to income tax on the employee as a benefit in kind. This can be a significant Saving, particularly for a higher rate taxpayer.
- Unlike a registered group scheme, the benefit will not form part of the employee’s annual or lifetime pension allowance.
- These payments may be treated as an allowable expense for the employer in calculating their tax liability, as long as the local inspector of taxes is satisfied they qualify under the ‘wholly and exclusively’ rules.
In most cases the benefits are paid free of inheritance tax – provided the benefits are payable through a discretionary trust.
Protection insurance can’t stop the unthinkable happening, but it can make dealing with the consequences easier.
Without adequate business protection you could end up risking everything you’ve worked so hard to achieve
What are the advantages of using a discretionary trust?
Contact your Chartwell financial adviser who will discuss the tax advantages and suitability with you in more depth and arrange for the appropriate documentation to be completed.
- There are restrictions in the legislation as to who benefits can be paid to. The use of the trust is the most practical way of ensuring these requirements are met. The beneficiaries who could be included are usually family members and dependants.
- Having benefits paid through a trust ensures they cannot be taxed as part of the company’s trading income, nor do they form part of the company’s assets.
- The trust is discretionary, allowing trustees to be flexible in who they pay benefits to. However the employee can advise the trustees of his or her intentions by completing a nomination form. Although this is not legally binding on the trustees, it helps to guide them. The trustees will normally be the directors of the company.
- Using a trust also ensures that in most circumstances benefits are paid free of both income tax and inheritance tax.
Contact your Chartwell financial adviser who will discuss the tax advantages and suitability with you in more depth and arrange for the appropriate documentation to be completed.
If you have any questions about anything you have read here, please contact:
Jon Fisher
Chartwell Financial Services Ltd
Lindley Court
Scott Drive
Altrincham
Cheshire
WA15 8AB
T 0161 929 3500
E info@chartwellfs.com
W www.chartwellfs.com
Jon Fisher
Chartwell Financial Services Ltd
Lindley Court
Scott Drive
Altrincham
Cheshire
WA15 8AB
T 0161 929 3500
E info@chartwellfs.com
W www.chartwellfs.com
Important note
The information in this bulletin is based on our understanding of tax law and practice at the date of publication, which may be affected by future changes and individual circumstances. It is issued as general information and is not intended to be advice to any specific person named or otherwise.
If the information refers to a specific product, it may be based on the contents issued by the provider.
Before taking or refraining from any action regarding the contents of this publication you are recommended to seek professional advice. The Financial services Authority (FSA) does not regulate tax advice therefore tax advice is outside of the protection rules of the Financial Services and Markets Act & the Financial Services Compensation Scheme.
The information in this bulletin is based on our understanding of tax law and practice at the date of publication, which may be affected by future changes and individual circumstances. It is issued as general information and is not intended to be advice to any specific person named or otherwise.
If the information refers to a specific product, it may be based on the contents issued by the provider.
Before taking or refraining from any action regarding the contents of this publication you are recommended to seek professional advice. The Financial services Authority (FSA) does not regulate tax advice therefore tax advice is outside of the protection rules of the Financial Services and Markets Act & the Financial Services Compensation Scheme.
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