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Stamp Duty Holiday on properties up to £500,000. To read how it works see our blog below:

Stamp Duty Holiday On Buying A House | Premier Financial Planning Jul 14, 2020 Stamp Duty Holiday On Buying A House The government have put in place a Stamp Duty holiday. This came into force on 8th July and will run until the end of March 2021. What Does The Holiday Mean? For people buying where the property is their only home (first time buyers, home movers and....

Should you leave your old pensions where they are? Or should you consolidate them together?

If you are like most people then you will have accumulated a few pensions over the years. Here is the truth.... Not all pensions are equal... Some are better than others and just leaving your pensions where they are can be to your financial detriment.

We provide a Free Pension Report to help you understand this. It will show you:

How much are your pensions worth?
How much income will they give you in retirement?
How much can you take as a tax free lump sum?
When can you start taking benefits from them?
Can you take benefits early?
Is there any benefit to delaying taking your pension to a later age?

It will also show you if you should keep your pensions where they are, or consolidate them together.

To get your Free Pension Report you can either speak with your local adviser, or request it here:

http://pensionbenefitsguide.co.uk/pensionreport

Free Pension Report Would you like to know to the answers to questions on your existing pensions, such as:How much are your pensions worth?How much income will they give you in retirement?How much can you take as a tax free lump sum?When can you start taking benefits from them?Can you take benefits early?Is there any b...

Do you have small children? Or does your partner earn under £11,500?

You can transfer some of your personal income tax allowance from your husband/wife if they earn less than £11,500. This can be a great way to reduce your tax and save money. It is typically used when you have small children and one partner is either not working, or working part time. See below, to see how it works.

You can contact your local PFP adviser to discuss this. To find your local adviser go to: www.pfp-ltd.com/contact-us/

https://www.gov.uk/marriage-allowance/how-it-works

Marriage Allowance: How it works - GOV.UK Marriage Allowance allows you to transfer some of your Personal Allowance to your husband, wife or civil partner

What does the election results mean to you?

The results are in and we now know it is a hung parliament.

This essentially means no party has managed to gain a majority in seat numbers. This happened back in 2010 and at that point The Liberal Democrats formed a coalition with the Conservatives.

There are a number of things that could happen:

The Conservatives could form another coalition. If this does happen it is expected that it will not be with the Liberal’s, instead it is likely to be with the Democratic Unionist Party.

Labour may try to gain a majority by forming a coalition. However, they would need at least the Scottish National Party and the Liberals to do this (if not the other seats as well!).

Either could govern as a minority government. This would make things trickier with getting laws passed, as they would be relying on the support of smaller parties.

The next 2 weeks will be interesting to see how this plays out.

Things are complicated more than usual because of BREXIT and the more stable the government, the easier it will be to negotiate a trade deal.

So how have the markets reacted? And what does it mean for investments?

The Pound has fallen in value because of the hung parliament. This can be very beneficial to investments as it makes our exports and investing into the UK cheaper and therefore stimulates money into the UK. You may feel it in your pockets through imports (such as your food bill).

The markets have been very muted on the news of the hung parliament and actually increased 1% overnight due to the Pound falling in value.

The key to investing at this point is ‘diversity’ (not putting all your eggs in one basket). When managing investments, we always consider:

How long you wish to hold the investment for
The objectives you have. Are you growing the capital, or do you want to take an income?
The risk you are prepared to take on the capital
How much short-term volatility you are happy with?
The current state of world markets and economies

Having a diversified portfolio will be key in the coming months and years ahead. By spreading your capital will mean you are building in protection against isolated events to one market.

The results of the election and the effects to markets are as we expected and we will continue to manage funds with the eye on reducing volatility and producing longer term growth.

To talk with your local adviser go to: http://pfp-ltd.com/contact-us/

Contact Your local PFP Adviser Contact Premier Financial Planning independent financial advisers for friendly professional financial planning advice

How long would 'YOUR' savings last if your income suddenly stopped?

To talk with your local adviser about building your savings and protecting against this go to: www.pfp-ltd.com/contact-us/

Savings would last about a month on average, report says - BBC News Employees have on average about a month's savings to maintain their lifestyle if they lost their income, a survey says.

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