EBS

Writing a will is important for many reasons though the majority of adults do not have one. The most common reason for not having one is that most of us ’simply haven’t got round to doing it’. EBS is able to make referrals to local solicitors and national Will Writers and Estate Planning Practitioners. A simple, single will can be arranged from as little as £90 + vat. If letting us take care of the arrangements is still not enough and you want to know more about the importance of creating a will, read on… Read the rest of this entry »

Some confusion followed the Budget announcement that the annual tax free ‘cash ISA’ limits were being increased from £3,600 to £5,100 for investors aged 50 or above from 6th October 2009 and from 6th April 2010 for everyone else.

It has recently been confirmed that the increased allowance for those individuals with a 50th birthday between 6th October 2009-6th April 2010 will be made available from that birthday.

Please also read about important pension choices for people celebrating their 50th birthday before 6th April 1960.

A cash ISA account can be opened on the lower amount of up to £3,600 at anytime and topped up to £5,100 at anytime between the 50th birthday and the end of the tax year. For help with selecting a cash ISA, or any other investment advice, please get in touch.

Whilst most of the media coverage post-Budget centred around the creation of a new 50% rate of income tax for individuals earning more than £150,000, far more people will  be impacted by the proposed restriction of the personal allowance for individuals earning in excess of £100,000 which is also due to be introduced for 2010/11. Personal allowances will be phased out at the rate of £1 for each £2 of income in excess of £100,000.
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Please get in touch for full details of how the Budget may impact you, in the meantime please read our quick guide to the key points:
1. Higher rate tax relief on pensions
Whilst much has already been written on this topic, it will not impact upon the vast majority of individuals.
Does your total income exceed £150,000 pa? If not, there is no change for you.

If your total income does exceed £150,000 pa but your pension contributions amount to less than £20,000 pa, there is still no impact on you.

Only if your total income exceeds £150,000 pa and your pension contributions amount to more than £20,000 pa will new restrictions apply (see below).

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