Arthur BeverlyPWP IFA WK Mar14 blue
2 Stewart Street Milngavie Glasgow G62 6BW
[email protected] 0141 956 5525
Businesses afected by recent looding can get Government support to help them recover. Announcing the package of measures, the Prime Minister David Cameron said that “money is no object to help this lood relief efort.” Eligible lood-hit businesses can receive: • A £5,000 grant to build lood protection into businesses as they are repaired • A 100 per cent business rate relief
for three months and an extra three months to pay business taxes
• Access to a £10 million fund for
farmers with water-logged land. John Allan, national chairman of the Federation of Small Businesses, said: “The help will be good news to many businesses which may not be able to trade as before and are under inancial pressure. The Government now needs to look at how to make lood defences more robust to protect against these incidents.”
industry have been working together on Flood Re, a scheme which will provide afordable buildings insurance for lood-prone areas. However, under present plans, small and medium-sized businesses, leaseholds and rented property will be excluded from Flood Re. The small business community has called for the Government and insurance industry to reassess the plans.
In a separate initiative, the Government and the insurance
Bank of England rules out rate rise The Bank of England has said it is unlikely to raise the base rate of interest from 0.5 per cent until 2015 at the earliest.
Talk to us about lood insurance.
The Bank’s Monetary Policy Committee (MPC) said in August 2013 that it would consider raising interest rates when unemployment fell to seven per cent. However, after what Governor Mark Carney described as “exceptionally strong jobs growth”, the unemployment rate fell to 7.1 per cent in the three months to November 2013. With the fall in the ...
Arthur Beverly Financial Management is authorised and regulated by the Financial Conduct Authority. Financial Services Register number 485198. Registered in Scotland Number 342744. Registered Office: 22 Backbrae Street, Kilsyth, G65 0NH
www.abfm.co.uk
Government support for lood-hit businesses
MARCH 2014
In this month’s Wealth Knowledge newsletter… the Government has announced a package of measures to support lood-hit businesses. The Bank of England has amended its forward guidance policy, ruling out an interest rate rise for the time being. The cycle-to-work scheme has reached record numbers and improved the health of those taking part. And, with the news that a quarter of 2014 retirees don’t feel ready to stop working, we look at ways to delay your state pension.
... rate happening much faster than expected, the MPC has decided that it is too early for a rate rise.
igures alone, the Bank will now use 18 separate measures to assess economic performance.
Mark Carney told a press conference:
David Kern, chief economist at the British Chambers of Commerce, welcomed the decision to keep rates on hold:
“The message to business is that we’re going to set an appropriate path for monetary policy so that the economy continues to grow. “When the point comes [for a rate rise] the adjustments will be gradual and limited.” Instead of making rate decisions based on unemployment
“Governor Carney and the MPC are right to evolve the forward guidance policy. Now that the emphasis has shifted towards a wide range of economic indicators, including spare capacity, it should help avoid a situation whereby unexpected shifts in any one indicator would immediately trigger expectations of an imminent interest rate rise.”
Cycle-to-work scheme reaps health beneits
One in four not ready to retire
The majority of cycle-to-work scheme users have seen an improvement in their health since they began commuting by bike, the Cycle to Work Alliance has found.
price and the cost is deducted from the employee’s gross earnings via salary sacriice. At the end of the hire period (usually 12 months) employees may be given the option to buy the bike for the current market value.
One in four people planning to retire this year doesn’t feel ready to stop working, Prudential has found.
Employers can on their national insurance contributions and can claim back VAT on bikes if they reduce car use, increase staf health or are part of a green travel plan.
• 23 per cent would consider working full-time and
Participation in the scheme reached a record level in 2013 with a 16.4 per cent increase in users.
Deferring your state pension
Steve Edgell, chair of the Cycle to Work Alliance, said:
Your state pension increases by one per cent for every ive weeks you delay claiming. This equates to 10.4 per cent for every full year you don’t claim.
“Registering our best ever year demonstrates that the scheme remains a proven method of encouraging cycling take-up across the country and remains a critical tool for Government to deliver sustainable transport and public health objectives.”
Extra state pension is taxable and could afect means tested beneits. However, the lat rate single-tier system planned for 2016 onwards would replace the current means-tested topups.
In a survey of more than 18,000 scheme users and 700 employers, 85 per cent of respondents reported better health since joining the scheme. Key indings include: • The health beneits of
participation in the scheme are expected to save the Government £5.1 billion over 10 years • 97 per cent of employers
think the scheme is a vital way to encourage a healthy workforce • 54 per cent did not cycle
to work before joining the scheme • 72 per cent of users wouldn’t
have bought their bike if it hadn’t been available through the scheme. Set up in 1999, the cycle-towork scheme allows employers to loan bikes and safety equipment to employees taxfree. The employer buys the bike and accessories at full retail
The Class of 2014 study tracked the aspirations of people who plan to retire and found a changing attitude towards retirement: • 13 per cent of people scheduled to retire in 2014 have
postponed their plans • 54 per cent would consider working past state pension age
to make their retirement more inancially comfortable 31 per cent part-time.
Stan Russell, a retirement income expert at Prudential, said: “For many people retirement is now a gradual process rather than a watershed where you simply stop working one day and become retired the next, and that is relected in the change in attitudes shown by our research.” Choosing to put of claiming your state pension allows you to do one of two things: Increase your entitlement
Receive a lump sum Deferring your state pension for at least 12 months in a row allows you to opt for lump sum payment. Lump sums are taxed at the highest rate that applies to your other taxable income. Your state pension is automatically deferred until you send your claim form to your pension centre. You can stop claiming your pension by contacting your pension centre.
Important notice
The way in which tax charges (or tax relief, as appropriate) are applied depends upon individual circumstances and may be subject to change in the future. This document is solely for information purposes and nothing in this document is intended to constitute advice or a recommendation. You should not make any investment decisions based upon its content. The value of pensions can fall as well as rise and you may not get back the full amount you originally invested. Whilst considerable care has been taken to ensure that the information contained within this document is accurate and up-to-date, no warranty is given as to the accuracy or completeness of any information. Errors and omissions excepted.
[email protected] 0141 956 5525
Businesses afected by recent looding can get Government support to help them recover. Announcing the package of measures, the Prime Minister David Cameron said that “money is no object to help this lood relief efort.” Eligible lood-hit businesses can receive: • A £5,000 grant to build lood protection into businesses as they are repaired • A 100 per cent business rate relief
for three months and an extra three months to pay business taxes
• Access to a £10 million fund for
farmers with water-logged land. John Allan, national chairman of the Federation of Small Businesses, said: “The help will be good news to many businesses which may not be able to trade as before and are under inancial pressure. The Government now needs to look at how to make lood defences more robust to protect against these incidents.”
industry have been working together on Flood Re, a scheme which will provide afordable buildings insurance for lood-prone areas. However, under present plans, small and medium-sized businesses, leaseholds and rented property will be excluded from Flood Re. The small business community has called for the Government and insurance industry to reassess the plans.
In a separate initiative, the Government and the insurance
Bank of England rules out rate rise The Bank of England has said it is unlikely to raise the base rate of interest from 0.5 per cent until 2015 at the earliest.
Talk to us about lood insurance.
The Bank’s Monetary Policy Committee (MPC) said in August 2013 that it would consider raising interest rates when unemployment fell to seven per cent. However, after what Governor Mark Carney described as “exceptionally strong jobs growth”, the unemployment rate fell to 7.1 per cent in the three months to November 2013. With the fall in the ...
Arthur Beverly Financial Management is authorised and regulated by the Financial Conduct Authority. Financial Services Register number 485198. Registered in Scotland Number 342744. Registered Office: 22 Backbrae Street, Kilsyth, G65 0NH
www.abfm.co.uk
Government support for lood-hit businesses
MARCH 2014
In this month’s Wealth Knowledge newsletter… the Government has announced a package of measures to support lood-hit businesses. The Bank of England has amended its forward guidance policy, ruling out an interest rate rise for the time being. The cycle-to-work scheme has reached record numbers and improved the health of those taking part. And, with the news that a quarter of 2014 retirees don’t feel ready to stop working, we look at ways to delay your state pension.
... rate happening much faster than expected, the MPC has decided that it is too early for a rate rise.
igures alone, the Bank will now use 18 separate measures to assess economic performance.
Mark Carney told a press conference:
David Kern, chief economist at the British Chambers of Commerce, welcomed the decision to keep rates on hold:
“The message to business is that we’re going to set an appropriate path for monetary policy so that the economy continues to grow. “When the point comes [for a rate rise] the adjustments will be gradual and limited.” Instead of making rate decisions based on unemployment
“Governor Carney and the MPC are right to evolve the forward guidance policy. Now that the emphasis has shifted towards a wide range of economic indicators, including spare capacity, it should help avoid a situation whereby unexpected shifts in any one indicator would immediately trigger expectations of an imminent interest rate rise.”
Cycle-to-work scheme reaps health beneits
One in four not ready to retire
The majority of cycle-to-work scheme users have seen an improvement in their health since they began commuting by bike, the Cycle to Work Alliance has found.
price and the cost is deducted from the employee’s gross earnings via salary sacriice. At the end of the hire period (usually 12 months) employees may be given the option to buy the bike for the current market value.
One in four people planning to retire this year doesn’t feel ready to stop working, Prudential has found.
Employers can on their national insurance contributions and can claim back VAT on bikes if they reduce car use, increase staf health or are part of a green travel plan.
• 23 per cent would consider working full-time and
Participation in the scheme reached a record level in 2013 with a 16.4 per cent increase in users.
Deferring your state pension
Steve Edgell, chair of the Cycle to Work Alliance, said:
Your state pension increases by one per cent for every ive weeks you delay claiming. This equates to 10.4 per cent for every full year you don’t claim.
“Registering our best ever year demonstrates that the scheme remains a proven method of encouraging cycling take-up across the country and remains a critical tool for Government to deliver sustainable transport and public health objectives.”
Extra state pension is taxable and could afect means tested beneits. However, the lat rate single-tier system planned for 2016 onwards would replace the current means-tested topups.
In a survey of more than 18,000 scheme users and 700 employers, 85 per cent of respondents reported better health since joining the scheme. Key indings include: • The health beneits of
participation in the scheme are expected to save the Government £5.1 billion over 10 years • 97 per cent of employers
think the scheme is a vital way to encourage a healthy workforce • 54 per cent did not cycle
to work before joining the scheme • 72 per cent of users wouldn’t
have bought their bike if it hadn’t been available through the scheme. Set up in 1999, the cycle-towork scheme allows employers to loan bikes and safety equipment to employees taxfree. The employer buys the bike and accessories at full retail
The Class of 2014 study tracked the aspirations of people who plan to retire and found a changing attitude towards retirement: • 13 per cent of people scheduled to retire in 2014 have
postponed their plans • 54 per cent would consider working past state pension age
to make their retirement more inancially comfortable 31 per cent part-time.
Stan Russell, a retirement income expert at Prudential, said: “For many people retirement is now a gradual process rather than a watershed where you simply stop working one day and become retired the next, and that is relected in the change in attitudes shown by our research.” Choosing to put of claiming your state pension allows you to do one of two things: Increase your entitlement
Receive a lump sum Deferring your state pension for at least 12 months in a row allows you to opt for lump sum payment. Lump sums are taxed at the highest rate that applies to your other taxable income. Your state pension is automatically deferred until you send your claim form to your pension centre. You can stop claiming your pension by contacting your pension centre.
Important notice
The way in which tax charges (or tax relief, as appropriate) are applied depends upon individual circumstances and may be subject to change in the future. This document is solely for information purposes and nothing in this document is intended to constitute advice or a recommendation. You should not make any investment decisions based upon its content. The value of pensions can fall as well as rise and you may not get back the full amount you originally invested. Whilst considerable care has been taken to ensure that the information contained within this document is accurate and up-to-date, no warranty is given as to the accuracy or completeness of any information. Errors and omissions excepted.
