ATFM

A legend of the game, Joost van der Westhuizen, lost his life this month to Motor Neurone Disease aged 45, having been diagnosed with the disease in 2011. This unfortunately is the harsh reality of the world we live in and this is why it is SO important to protect your life on death and in the event of a serious illness. What would be the impact of these events on your family or in your business? As Independent Financial Advisers, Allen Tomas & Co can help you implement the right solution from the whole of market in order to protect those affected most and to give you peace of mind. Please call us now to arrange an appointment.

Allen Tomas & Co would like to say a huge welcome to Kevin Banks-Dunnell for joining us as an Independent Financial Adviser. On leaving school, Kevin spent 4 years training and working as a chef. He joined the financial services industry in 1991 and has now completed 26 years as a financial adviser. He has worked for large financial institutions and as a result has built a strong client following through holistic financial advice. His experience has helped him specialise in Inheritance Tax & Investments. Kevin believes that this knowledge plus his personal and professional service have been key in building and maintaining long lasting and successful relationships. Kevin is a keen golfer and has been a member of Royal Cromer Golf Club for over 20 years, he also plays lead guitar in a local band.

From the 1st May 2017, National Savings will be reducing the rates of interest across all of their cash savings products, including Premium Bonds and Direct ISAs. The reduction will affect existing accounts as well as new. This follows reductions in interest rates across the savings market after the Bank of England's reduction of the base rate by 25 basis points, to 0.25pc in August 2016. Ben Allen, Managing Director of Allen Tomas & Co said "Once again this is another blow for savers and the search for decent returns on deposits becomes harder. NS&I will remain popular due to the fact that they are backed by HM Treasury, however I expect more people to look to the stock markets for a portion of their cash in order to improve their long term returns". Please contact us should you wish to review your existing Savings and Investments.

Up until April 2017 you can top up your state pension. This initiative allows people who reach the state pension age before April 2016 to top up their pension. This includes those who are already drawing the state pension. The government is allowing retirees to buy extra state pension by paying so-called Class 3A voluntary National Insurance contributions between October 2015 and April 2017. This will help people reaching state pension age before 6 April 2016 who will not receive the new single-tier state pension. Some retirees will be better off under the new system (eg some women and self-employed workers) and the top-up will allow pensioners retiring before that date, and who may feel that they are missing out, a chance to build up a higher future state pension income. You can choose to top up your State Pension by between £1 and £25 per week. How much you'll need to contribute depends on: how much extra pension you want to get each week how old you are when you make t...

New figures last month showed six million people with defined benefit/final salary pensions have seen their transfer values increase in the last year mainly down to interest rates remaining low (reason being is that the transfer value needs to be higher to buy an annuity of worth in the open market). Under the rules of most defined benefit/final salary schemes, workers have the right to swap their pension entitlement for money. With a rising defined benefit/final salary pension worth, some individuals are being offered 'eye-watering' sums, often tens of thousands of pounds more than a year ago, to trade in their scheme for cash.  For someone with a pension income worth £20,000, it is not uncommon to be offered 30 times that amount - in other words, £600,000 in cash. Even though transferring your pension can offer a more flexible retirement, extra tax-free cash and further inheritance tax relief, individuals are being warned that this may not be the most suitable option, as de...

The role of a trustee The role of a trustee is to hold the trust property and administer it for the benefit of the beneficiaries. The full extent of the duties of a trustee is governed by the terms of the trust instrument and the principles of common law, equity and statute. Before accepting the position of trustee, the trustee should always make sure that there is no conflict of interest between their own personal interest and that of the beneficiaries. General duties of a trustee To comply with the terms of the trust - Trustees should fully inform themselves of the terms of the trust and comply strictly with the duties and directions as set out in the trust instrument. To take control of the trust property - a trustee should ascertain the extent of the trust property, make sure that it is vested in them and any co-trustees, and take steps to make sure it is maintained. To act impartially between the beneficiaries - Trustees are under a general duty to act in the best intere...

Michael Crisp of Allen Tomas & Co is now offering mortgage advice Michael can advise in the following areas: First time buyers – getting you the best deal when finding your first home Re-mortgage – releasing equity for things like home improvements or consolidating existing financial commitments Product Transfer – switching your mortgage to a better deal and saving you interest Buy-to-let – repayment and interest only options available  Allen Tomas & Co Mortgages can also refer in the following areas: Development finance Commercial borrowing Bridging finance Secured loans / second charge mortgages If you would like to find out what you could potentially borrow or what your monthly payments might be, then contact Michael to discuss your mortgage requirements on 01485 541998 or visit www.allentomasmortgages.co.uk