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Newsletter October 2019

One in four over-60s in employment opt out of workplace pensions

Around a quarter of people over 60 and in employment are believed to be opting out of saving into workplace pensions through auto-enrolment, a report claims.

Government figures showed there were more than 1.7 million over-60s in full-time employment at the end of June 2019.

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Parents become ‘one of the UK’s biggest mortgage lenders’

Parents who help their adult children take their first steps on the property ladder are among the highest ranking mortgage lenders in the UK, according to Legal & General (L&G).

Research showed the average parental contribution so far this year stands at £24,100 – an increase of £6,000 on last year.

The ‘bank of mum and dad’ gifted £6.3 billion in 2019, enough to make parents the 10th largest mortgage lender in the UK.

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Loan charge could be scrapped by November after official review

Chancellor Sajid Javid has announced an official review of the loan charge that applies to disguised remuneration schemes.

HMRC was authorised by parliament to pursue individuals and companies that used the schemes dating back to 1999.

UK expats in the EU get state pension uprating until 2023

Annual state pension increases for expats living in Europe will only be guaranteed for the next three years, if the UK leaves the EU without a deal.

The Department for Work and Pensions (DWP) confirmed plans to annually increase the pension benefit for around 500,000 UK expats until March 2023.

Talk to us at Herts & Essex Financial Services about retirement planning. http://www.handefs.co.uk/our-services/pensions