Radcliffe News

Oct

17

Benefits of Financial Advice

An in-depth study by the International Longevity Centre and Royal London has found that those who receive financial advice could end up nearly £40,000 better off compared to those who don’t. The study looked at people who received financial advice between 2001 and 2007, and those who didn’t, by comparing their wealth between 2012 and 2014. It found that already wealthy people who received advice were an average of £12,363 better off in liquid financial assets, and had £30,882 more in a... Read More »

Oct

17

Woodford Worries

Star fund manager Neil Woodford issued an apology to investors in his fund after delivering poor returns this year, says the Financial Times. Woodford's £10 billion fund has delivered returns of just 0.59 per cent year-to date compared with 8.21 per cent for the FTSE All Share Index. Woodford said criticism was fair; several companies in which his fund hold large shareholdings have had difficulties and issued profit warnings, including Provident... Read More »

Oct

17

Lifetime Allowance Issues

Many more people are being caught by the 'lifetime allowance' for pensions,  says the Telegraph. It has been reduced in stages from £1.8 million to £1 million in recent years, and there is a tax charge of 55 per cent on any excess. While £1 million sounds a lot, the Telegraph says that this is the notional value of a final salary pension of £50,000, which many long-serving employees at middle-ranking and senior levels will be entitled to. In addition to this, high earners may fall foul... Read More »

Oct

17

Inheritance Tax Receipts Up

Annual inheritance tax revenue has smashed through £5 billion for the first time, with HMRC’s receipts for the 2016/17 tax year totalling £5.1 billion. This is a 19.1% increase on the £4.7 billion raised in 2015/16 – and it’s more than double the amount collected seven years ago. With inheritance tax thresholds having been frozen since 2009/10 – and estate values climbing considerably due to rising house prices and positive stock markets – the number of people affected by... Read More »

Oct

17

Rose Road Charity Update

On 24th September, supporters of the Rose Road Association took on a Triathlon challenge to raise funds for the Hampshire based charity. Teams from Grant Thornton, EY, Wilkins Kennedy and Copyrite took part in the latest Rose Road challenge event. Sponsored by Radcliffe & Co, the event was a shorter triathlon, known as a super sprint, suitable for both experienced athletes and beginners a like. The winning team, with three team members achieving the quickest three times, were Grant... Read More »

Sep

21

Autumn Budget – What To Expect

Last November, the then relatively new Chancellor, Philip Hammond, announced he would be switching to Autumn Budgets, starting after the Spring Budget in 2017.  This was a reversion to an idea introduced in the early 1990s, but abandoned when Gordon Brown replaced Ken Clarke at the Treasury in 1997. Following last year’s announcement, the Treasury published a “7 things you need to know” press release explaining how the Autumn Budget timetable would work. This said “From winter 2017,... Read More »

Sep

21

Cash ISAs Down

The amount invested in cash ISAs fell by £20 billion or almost a third in the year to April, says the Financial Times.  The reason was falling interest rates, with many non-Isa accounts now paying more than equivalent Isa accounts. For the first time, the amount invested in Stock & Shares ISAs at £22.3 billion was greater than the amount going into cash ISAs. The value of all investments in Stocks & Shares ISAs is now £315 billion compared with £270 billion for Cash... Read More »

Sep

21

Rate Hikes – Gradual and Limited

Bank of England governor Mark Carney has said he expects interest rate increases in the UK to be "gradual" and "limited" as he estimated inflation would remain above 2% for the next three years. In a speech to the International Monetary Fund (IMF)in Washington DC, Carney said there would likely be "some withdrawal of monetary stimulus" in order to bring inflation back to the BoE's 2% target, according to the BBC. Inflation beat expectations in August rising 0.3% to 2.9%, its highest since... Read More »

Sep

15

Autumn Budget- What to Expect

 Last November, the then relatively new Chancellor, Philip Hammond, announced he would be switching to Autumn Budgets, starting after the Spring Budget in 2017.  This was a reversion to an idea introduced in the early 1990s, but abandoned when Gordon Brown replaced Ken Clarke at the Treasury in 1997.   Following last year’s announcement, the Treasury published a “7 things you need to know” press release explaining how the Autumn Budget timetable would work. This said “From winter... Read More »

Sep

15

Value of Equity Release

Someone using an equity release loan today, and borrowing the average £70,000 against the value of a £310,000 property, would save £70,000 over 20 years compared with the cost of the same loan five years ago, says the Telegraph. This is the result of interest rates falling from an average of 5.9 per cent in 2012 to 3.9 per cent today.  One lender reckons that as much as £3 billion will be drawn by equity release loans - also known as 'lifetime mortgages' – in 2017, a huge increase over... Read More »