March 2016 Newsletter
Never mind Spring fever, Budget fever certainly abounds! Not to mention speculation on the effect a Brexit would have on Sterling. We’re keeping a close eye on developments and will keep you up to date with any financial implications.
You may well be thinking of eggs of the chocolate variety with Easter being early this year but bear a thought for your nest egg too. Now is the time to be topping up your ISA and maximising pension contributions, especially in light of any possible changes to pension relief in the forthcoming Budget.
So do a spot of financial spring cleaning, dust down those long-forgotten policies or accounts and check you’re making the most of any allowances.
In this months issue:
Use it or lose it time for your ISA
As the end of the financial year draws ever closer, it’s important not to forget about any ISAs (Individual Savings Accounts) you have and any remaining payments that you’re allowed to make. The maximum allowance for ISAs for the 2015/16 financial year is £15,240, so it’s important that you invest any funds that you have left to pay into your ISA as close to that amount as possible, as soon as you can.
Don’t forget, from April 2016 the annual allowance tapered reduction begins
Think back to the Chancellor’s budget proposals in July last year, and you may remember an announcement about changes to the annual pension allowance. Well, that change is set to come into effect at the start of the new tax year on 6th April 2016. It therefore seems like a good idea for a bit of a refresher on what those changes are and what they potentially mean for you.
CML urges restraint on Stamp Duty proposals
Responding to the HM Treasury consultation on the 3% surcharge on Stamp Duty Land Tax (SDLT) proposals for second properties, the Council of Mortgage Lenders (CML) urges reform of the implementation plans to mitigate potentially negative impacts on the housing market as a whole.
Market Commentary from Cornelian
The three months to the end of February have been extremely volatile as investors grappled with conflicting messages. During this period, Sterling weakened sharply as the Governor of the Bank of England suggested the first interest rate rise in the UK was not likely to occur for some time and fears that the UK might leave the EU rose.
If we can help in regard to any of this do let us know. Finally, as we always like to give useful advice, don’t forget to put your clocks forward on 27 March! We wish you a very Happy Easter.
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