Financial Planning

June 2016

What are Defined contribution pension schemes

By |June 6th, 2016|

Providing an income in retirement
With a defined contribution pension, you build up a pot of money that you can then use to provide an income in retirement. Unlike defined benefit schemes, which promise a specific income, the income you might get from a defined contribution scheme depends on factors including the amount you pay in, […]

Lifetime allowance

By |June 3rd, 2016|

Value of payouts from pension schemes
The lifetime allowance is a limit on the value of payouts from your pension schemes – whether lump sums or retirement income – that can be made without triggering an extra tax charge.
The lifetime allowance for most people is £1m in the tax year 2016/17.
It applies to the total of […]

A rise in 95% loans linked to Help to Buy

By |June 2nd, 2016|

According to an article published by mortgage strategy The Help to Buy Scheme caused 95 per cent LTV loans to increase 383 per cent to 271 products from 56 when the scheme was first launched.
This scheme had been set up back in October 2013 and is due to end this year.
Finance expert Charlotte Nelson from […]

May 2016

New State Pension

By |May 20th, 2016|

How much will I get under the new State Pension?
The State Pension changed on 6 April 2016. If you reach State Pension age on or after that date, you’ll now receive the new State Pension under the new rules. The aim of the new State Pension is to make it simpler to understand, but there […]

Smoothing out your portfolio’s returns

By |May 17th, 2016|

Increasing the long-term value of your investments
It’s natural to be looking for ways to smooth out your portfolio’s returns. Investing regularly can smooth out market highs and lows over time. We at Hutt Professional have financial advisers with many years of experience who would be more than happy to help you do this.

In a fluctuating […]

Pension freedoms: one year on

By |May 12th, 2016|

What are the key reasons for shifting retirement patterns?
New pension rules which give you far greater flexibility over what you can do with your pension pot came into force on 6 April 2015, but according to Aviva’s latest Working Lives report a third of people aged over 50 who are employed in the private sector […]

Tax credit on dividends abolished

By |May 10th, 2016|

Tax-free Dividend Allowance introduced under new system
rom April this year, the notional 10% tax credit on dividends has been abolished and replaced by a new tax-free Dividend Allowance. The Dividend Allowance means that you won’t have to pay tax on the first £5,000 of your dividend income, no matter what non-dividend income you have.

The allowance […]

Taking stock of Budget 2016

By |May 6th, 2016|

The Chancellor of the Exchequer, George Osborne, delivered his eighth Budget speech on Wednesday 16 March, his third in 12 months. Now that we’ve had time to take stock of the key announcements, we consider how they could impact your finances both today and in future years.

The Personal Allowance will increase to £11,500, and the […]

Changes to Stamp Duty

By |May 4th, 2016|

What could the shake-up mean for you?
Changes to the stamp duty rules took effect on 1 April 2016 in relation to anyone owning more than one residential property – this will affect those buyers funding the purchase of a new home with the sale of an existing home: if their buyer pulls out but they […]

April 2016

Investing for success

By |April 29th, 2016|

Achieving your goals by weighing the potential risks alongside the prospective returns
Successful investing involves making choices that meet your unique needs today and your financial goals for the future. A well-defined investment strategy is one of the cornerstones of a successful financial life. Investing is about building wealth slowly rather than getting rich overnight. We at […]