Well, the tax-year end is fast approaching. The last business day of the tax year in 2021 is April 1st so are you going to be a fool this year? Remember too – Budget on Wednesday so don’t be caught-out… if you need to do ‘stuff’ today then don’t regret a budget announcement stopping or limiting you tomorrow!
If you are in the ‘must’; category (thinking of your total assets or your tax status for example) have you used your ISA allowance yet (£20,000 each) or have you optimised your pension contributions if you are eligible? Have you looked at using your CGT allowance, considered gifting under IHT rules… Please don’t leave things till the last minute anyway as firms receiving your funds may not be able to process them in time either…
Now, whilst you might think you have plenty of time for these things, be aware that Rishi Sunak may upset your plans! And don’t be coy either, consider repeating the exercise for new investment on 6 April as the sooner you do so, the bigger the tax benefit you gain – a whole year’s worth.
New Staff
If you are looking for a career change or a relocation to beautiful North Devon, we are looking to recruit a new, salaried financial adviser(s) and some financial advisory assistants, either qualified, part-qualified or keen to consider learning. If that adviser has a client bank which can be incorporated into our great facilities then clearly their reward can reflect that too. Do pop us an email if you may be interested. We are embarrassingly busy at the present time…
Helping-Out
Of course we do community things just to try to be helpful but when a reporter asked me where financial advisers may have helped-out with the vaccination programme… I hadn’t realised it would become a big article for the Trade…!
https://www.professionaladviser.com/news/4027432/pleased-help-advisers-doing-bit-covid-19
We only do it humbly as that is the right thing to do and because we want to try to do our bit if we can, like our local Church supporting some special charitable projects in Ilfracombe for example, as well. Anyway, it’s nice to be a part of a ‘good news’ story’ when it seems the media prefers to concentrate upon mainly ‘bad news’.
Peer-To-Peer Lenders
Readers will remember our last note on these. It is pleasing to see that the FCA has taken action to stop ‘Buy2LetCars’ from writing any new leases for investors.
https://www.theguardian.com/business/2021/feb/21/city-watchdog-halts-new-business-at-buy2let-cars?
This is after it was revealed too that investors in a property scam promoted by TV property guru Kevin McCloud went under and a £2.3million shortfall involved.
Just think – this is during a time when it has been almost impossible to lose money on residential property so just imagine what might go wrong in harder times for the over-priced sector as well and with interest rates at more realistic levels for such borrowing. His scheme’s adverts all said the right things too, concentrating on making the projects environmentally friendly to attract money from the ‘ethical’ sector too of course. As I have said before, please DON’T deposit money with any schemes which do not give you full regulatory protection. I don’t care what ‘security’ they say they are offering – their houses can be built on sand and what security did Mr McCloud’s investors have, despite what they thought? Just before Christmas other investors with the rock solid ‘secure’ property investment ‘Dolphin’ which bought undervalued German properties for development (now called the German Property Group) have also found their money has evaporated.
https://www.bbc.co.uk/news/business-55077709
That one was a £1.5billion situation overall but not all of that was UK investors’ losses. As I have said before anyway, alongside myriad other investment opportunities we buy loan portfolio companies quoted on the London Stock Exchange – quoted funds of wide ranges of secured loans and which are paying high dividends to investors from the interest charged to these loans. You can buy in today and sell out tomorrow and you spread your risk vastly too. Please don’t be the next victim of an implosion of one of the unregulated ones – there will be little sympathy from us as you have been warned many times now.
Hot-off-the-press but the FCA has just announced another Peer-to-peer failure – the House Crowd has just appointed administrators. At least that had some regulatory protection so investors’ funds are better safeguarded.
https://www.fca.org.uk/news/news-stories/house-crowd-limited-enters-administration
For Those Who Are Struggling – Or Who Should Do Better!
I decided to start the CAP money course – a non-confrontational programme of Zoom meetings with a small group and hosted by the local CAP representative. It is Christian based but doesn’t function on that premise exclusively as such and is just very helpful. I have only just started but am happy to recommend it to anyone who has had struggles with issues of finance, or even those who don’t but feel they could or should do better too!
They do offer individual counselling assistance too but I commend the course to those who think it might be helpful.
https://stephelpfree.co.uk/?msclkid=268e127dbae2129791b7724b9d382ad0
It has various things to start, including some questions to which I didn’t know all the answers – like ‘the average car costs £3000pa in maintenance and fuel costs’… (and that excludes financing).
It is a registered charity too and is always looking for financial assistance but if you know someone who could benefit from the course (or personal counselling), put them in touch!
Talking Of Popping Bubbles…
North Devon Rotary Clubs are raising money to support North Devon Hospice this Easter. The Hospice is much loved and respected and doing an incredible job. The Clubs and others have all regularly supported the Hospice but during the pandemic, events and the money able to be raised have been curtailed.
The Virtual Balloon Race is an opportunity to raise funds in a safe and fun way. We hope it will appeal. The Race starts from Jerusalem on Easter Sunday.
Buy your balloons for £3 each. Name them, choose the shape, the amount of helium and its thickness to give your balloon the best chance to fly the longest distance. It’s all virtual; no plastic is involved. The race uses real weather conditions to simulate the trajectory, speed and height of each balloon. Follow the race online over a week. Check how your balloon is doing each day. Did you put enough helium in, or too much; how has the shape affected it; did you choose the right amount of material?
The prizes are £500, an iPad and ten book tokens worth £10 each. It is all organised by Ecoracing.co which provides the prizes. Almost 80% of the ticket money goes to the Hospice. Why not buy a team of balloons for your family for a bit of Easter fun!
Join in on www.brauntoncaenrotary.co.uk/balloonrace.
Is Green Good?
Please be wary. Yet another wonderfully green investment scheme has resulted in small investors losing £2.5million through energy plants not completed and other fraudulent behaviour by those in charge of the money.
The investments were sold as good, renewables’ bonds. The Insolvency Service noted an abject absence of ‘appropriate governance and control’ and a ‘lack of commercial probity’. I have warned before. Sadly too many let their guards-down because something is ‘ethical’.
However, perhaps the biggest warning now is the over-inflated prices of the very few accessible, quoted green investment companies and funds anyway as too much money is chasing too few concepts. Prices are over-blown and there will be a serious reckoning.
https://www.ft.com/content/0d3c0ea1-2643-4ceb-90ed-961d51f8123d
That too is before headlines like Amazon cheating the ethical rules in India, yet being a regular component of ‘ethical’ investment funds and that will at some point start to resonate… this is pretty damning…
https://www.reuters.com/investigates/special-report/amazon-india-operation/
Risk Warning
Stock market investments can offer income through the payment of dividends and interest and good opportunities for capital appreciation over the longer term. By this, generally we mean periods in excess of five years, preferably much longer. However, we can never promise you particular returns, especially in the short-term. At any point in time but especially in the short term, your capital could be worth less than the original amount invested as some of the selected holdings may fall in value, regardless of expectations at the time of acquisition. We may also invest in funds that hold overseas securities. The value of these investments may increase or decrease as a result of changes in currency exchange rates. Returns achieved in the past cannot be relied upon to be repeated.
To remind you, why do I send out occasional emails? Because everyone can save money. We have no connection with any companies mentioned and you have to make your own contacts and satisfy your own enquiries. What is in it for us? If we can prove that we are knowledgeable and that our service and advice have good value, then you might contact us for professional financial planning and investment help. You don’t have to do that though and there’s no charge for emails. If simply they save you money, then accept them with our compliments! However, you’ll know where we are!
If you have any queries of any form or indeed any subjects you think I could include, please contact me. I also refer you to our website www.miltonpj.net. We celebrate our 35th anniversary in 2020 and have been publishing a well-respected independent column in the local Paper for most of that time and free client newsletters as well.
Do not forget however the usual caveats – this is not ‘advice’ and you are encouraged to seek that before embarking upon any financial route involving investments, etc.
My best wishes
Philip J Milton DipFS CFPCM Chartered MCSI FPFS FCIB
Chartered Wealth Manager
Fellow Of The Personal Finance Society, Fellow Of The Chartered Institute Of Bankers
