Good News for State Pensioners

As many of you will be aware in the UK, due to the current financial climate inflation has been steadily increasing over the last 12-24 months putting pressure on the Bank of England to increase interest rates. It is still unclear as to whether this will be the case (although it is looking increasingly likely). However, what we do know is, due to current inflation levels and the generous triple-lock State Pension guarantee, those in receipt of their State Pension will see a 3% increase from April 2018.

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STEP Affiliates

As a firm we are constantly trying to move forward with our standards and professional development. We have aspirations of obtaining Corporate Chartered Adviser’s status early next year and are also working to achieve accreditation from the Society of Later Life Advisers (SOLLA). Another professional accolade we have been working on is becoming Affiliate members of The Society of Trust & Estate Practitioners "STEP" and we are pleased to announce both Michael and Ben are now Affiliate members of STEP. "STEP is the global professional association for practitioners who specialise in family inheritance and succession planning. We work to improve public understanding of the issues families face in this area and promote education and high professional standards among our members."

An update on ISAs

Cash These ISAs are the simplest form, but unfortunately at present paying poor returns and in most cases not keeping pace with inflation. Enjoys Financial Services Compensation Scheme Protection up to £85,000 per provider. The ISA limit for 2017-18 is £20,000. Stocks and shares All or some of the annual ISA allowance can be invested in stocks and shares. This can be done directly in shares of companies or in bonds, or through funds or investment trusts, which are funds that are traded on the stock market. Investors can also use 'passive' investments, which are low cost and track different markets, such as the FTSE 100. The ISA limit for 2017-18 is £20,000. Junior Junior ISAs are for those under the age of 18. Up to £4,128 can be saved into these ISAs in the 2017-18 tax year. At age 18 this money is then converted into an adult ISA, and the child takes control (and can do what they want with the money). The money cannot be withdrawn until age 18, unless the child is te...

Inflation

United Kingdom Inflation Rate 1989-2018 The UK consumer price inflation eased to 3 percent in December 2017 from a near six-year high of 3.1 percent in the previous month, as widely expected. Prices rose at a softer pace for transport, recreation and culture, housing and utilities, and food and non-alcoholic beverages. Inflation Rate in the United Kingdom averaged 2.58 percent from 1989 until 2017, reaching an all-time high of 8.50 percent in April of 1991 and a record low of -0.10 percent in April of 2015. Consumer prices index (CPI) is the government's preferred measure of inflation. It is used for international comparison and the government inflation target for the Bank of England Monetary Policy Committee. It is available as an index from January 1997, with estimates back to 1988. It excludes mortgage interest payments and council tax. As of the 2010 budget, CPI as part of the triple-lock, is used to index state pensions in place of RPI. Why is inflation important? Keep...

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