personal allowance Archives - Philip J Milton & Company Plc https://www.miltonpj.net/tag/personal-allowance/ North Devon's Leading Wealth Managers Wed, 25 Sep 2024 13:47:58 +0000 en-GB hourly 1 https://wordpress.org/?v=6.9.1 https://www.miltonpj.net/wp-content/uploads/2018/02/PJMCO-Site-Image-4-100x100.png personal allowance Archives - Philip J Milton & Company Plc https://www.miltonpj.net/tag/personal-allowance/ 32 32 Great British ISA plans will not be allowed to hatch https://www.miltonpj.net/2024/09/11/great-british-isa-plans-fail-to-hatch/ Wed, 11 Sep 2024 09:00:00 +0000 https://www.miltonpj.net/?p=11374 Plans for the ‘Great British ISA’ have been shelved before they were hatched, sadly. The idea was unveiled in the previous Government’s final Budget (as it turned out) earlier this year by the then-Chancellor Jeremy Hunt. The scheme would have allowed savers to invest an extra £5,000 into London-listed equities on top of the existing […]

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]]> Don’t get fined if you have to complete a tax return this year https://www.miltonpj.net/2024/09/04/more-people-facing-self-assessment-tax-returns/ Wed, 04 Sep 2024 09:00:00 +0000 https://www.miltonpj.net/?p=11378 Self-assessment Tax Returns are a pain for the self-employed and increasingly for many modest investors who may not have realised they need to complete one – with many more fines being issued as a result. A Freedom of Information (FOI) request from City platform AJ Bell notes has found that 3.6million people are due to […]

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]]> The simmering stock market pot subsides https://www.miltonpj.net/2024/08/16/simmering-stock-markets-fail-to-boil-over/ Fri, 16 Aug 2024 15:46:45 +0000 https://www.miltonpj.net/?p=11325 I am pleased to report that the rumbles in markets proved short-lived. However, having ‘biggest losses since 1987’ for Japan and then clawing the way back again (well, still 13% off its peak) is not helpful and a potential portent for the over-priced sections of the Globe. Volatility is your friend when it is upwards […]

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]]> Don’t become an ‘advice gap’ statistic and lose out https://www.miltonpj.net/2024/08/07/are-you-an-advice-gap-statistic/ Wed, 07 Aug 2024 09:00:00 +0000 https://www.miltonpj.net/?p=11386 We’ve talked before of the dubious choice of investors trying to ‘go it alone’ and of the value of sound independent advice across all manner of financial needs. So it is worrying that the numbers of people who sought financial advice last year dropped to only 9% apparently, a drop of 18% on the year. […]

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]]> The King’s speech and ‘pensions shake-up’ https://www.miltonpj.net/2024/07/24/pensions-shake-up-after-kings-speech/ Wed, 24 Jul 2024 09:00:00 +0000 https://www.miltonpj.net/?p=11390 It’s some three weeks since the election and the new Government has unveiled a raft of measures in its first King’s speech, including some wide-ranging changes to pensions. The Pension Schemes Bill is being hailed as a win for savers with an estimate it could put an extra £11,000 into retirement pots. In short, workplace […]

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]]> The politics of investment? https://www.miltonpj.net/2024/06/07/the-politics-of-investment/ Fri, 07 Jun 2024 10:45:56 +0000 https://www.miltonpj.net/?p=11252 So the Dow Jones pushed up again, breaching 40,000 and almost double its March 2020 pandemic low. At the depth of the financial crisis in 2009, it was 7,062. Still, you know my sentiments in the short-term here… what possibly could go wrong over there? How are investments similar to politics? Well, here’s one. Over […]

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]]> Why do some pension transfers take so long? Blame the ‘sludge’! https://www.miltonpj.net/2024/05/08/why-do-pension-transfers-take-so-long/ Wed, 08 May 2024 12:39:59 +0000 https://www.miltonpj.net/?p=11169 Clients often come to us wishing to transfer pension funds from previous employment into one consolidated pot so they can better manage their retirement fund – but the process can at times be a long one due to ‘red tape’. Anti-scam regulations – quite rightly there to protect people – can slow the transfer down […]

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]]> Inheritance Tax revenue soars – but will it affect you? https://www.miltonpj.net/2024/05/01/will-you-be-affected-by-inheritance-tax/ Wed, 01 May 2024 12:21:23 +0000 https://www.miltonpj.net/?p=11166 The last financial year saw a record £7.5billion collected in Inheritance Tax (IHT) – and it is predicted to hit £10bn by the end of the decade. The numbers from HM Revenue and Customs (HMRC) has shown that IHT receipts increased by £400m year-on-year, after £7.1bn was collected in 2022/23. This really should come as […]

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]]> Do you fall into the 60% tax trap? https://www.miltonpj.net/2023/05/31/do-you-fall-into-the-60-tax-trap/ Wed, 31 May 2023 09:10:00 +0000 https://www.miltonpj.net/?p=10656 Higher earners are being warned not to fall foul of the ‘60% tax trap’ that could eat significantly and perhaps unnecessarily into their earnings. This will not affect everyone, of course, but as of April, the additional rate tax threshold for income tax was reduced from £150,000 to £125,140, dragging more people into the higher […]

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