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Don’t bury your head in the financial
sand…
As the ongoing recession continues
to bite, the impact on savers, investors and borrowers
continues to provide much uncertainty and confusion.
Conscientious savers, borrowers and investors could
be forgiven for feeling they are being made to pay
for other’s mistakes.
For savers, The Bank of England has
confirmed Base Rates stay at 0.5% for the present,
meaning that, for those savers who make the mistake
of not shopping around; interest rates of 1% or less
are common.
For Borrowers, those on existing
trackers have generally done well as their interest
rate has tracked the fall in the Base Rate. However,
these deals were quickly withdrawn as interest rates
fell. New borrowers now find themselves needing much
larger deposits and facing higher rates relative to
the Base Rate.
For Investors, the market volatility
of the past 18 months continues. The FTSE All Share
has gained over 25% in the last three months, although
this still leaves the Index down 21% over one year.).
Whether this recovery will continue or whether the
market will fall again is impossible to predict. Government
Bonds have had a positive year with the average sector
fund up over 6% in one year. However, the impact of
Quantatitive Easing is unknown. (Source Trustnet 09/06/09).
Whilst it is tempting to bury one’s
head in the sand when faced with the above, at MJB
we feel that a return to good old fashioned values
is the best protection against the current level of
uncertainty and confusion.
If you are a borrower or a saver,
it has never been more important to search the whole
of the market to ensure you are accessing the best
deal around.
If you are an Investor (and you may
be even if you don’t think you are. For example,
everyone with a pension fund is investing even as
you read this article!), fully independent advice
not associated with a bank or product provider’s
influence has never been more important.
Whilst there are never any guarantees
in life or in finance, why not see for yourself how
we can help. Initial consultations are always free,
and there’s no obligation. For a genuine independent
view from a local adviser, contact us now.

Individual Tax Rates for 2009/2010
| Income Tax |
|
|
| Personal Allowance |
|
£6,475 |
| Personal Allowance age 65-75 |
|
£9,490 |
| Personal Allowance age 75+ |
|
£9,640 |
| Rates (on top of Allowances) |
|
|
| 10% rate (savings only no other taxable income |
up to |
£2,440 |
| 20% |
Basic rate up to |
£37,399 |
| 40% |
Higher rate |
£37,400 plus |
Corporation Tax
Marginal Rate |
up to £300,000
£300,001-£1.5m |
21.0%
29.75% |
| Standard Rate |
over £1.5m |
28% |
Inheritance Tax |
|
|
| Standard Rate |
Up to £325,000
over £325,000 |
NIL
40% |
Capital Gains Tax |
Individuals |
|
| Allowance |
£10,100 |
0% |
| |
over £10,100 |
18% |
| ISA Allowances |
Cash ISA 50% of total allowance |
|
| |
£7,200 per annum increasing to £10,200
for over 50's on 6 Oct 2009 |
|
Pension Allowances |
Income tax relief on £3,600 or up to
taxable earnings |
|
| |
Annual Allowance |
£245,000 |
| |
Lifetime Allowance |
£1,750,000 |
Stamp Duty |
£175,001-£250,000 |
1% |
| |
£250,000-£500,000 |
3% |
| |
over £500,000 |
4% |
| |
|
|
|
 |