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Putting your foot on the mortgage ladder

The criteria for arranging a mortgage is now somewhat more complicated than it used to be a number of years ago. Whether you’re taking the first step onto the property ladder, re-mortgaging, moving house or capital raising, mortgage lenders now want to be certain that you can afford the repayments.

In the ever changing world of Manufacturing, who is the sounding board for your business?

“There are many things we do not know we don’t know”

This is a well known quote from Confucius that was recorded by Henry David Thoreau in Walden; how appropriate this quote is when it is viewed in the context of manufacturing in the UK.

Many UK manufacturers can trace their history back over a number of generations, as the business has been passed from generation to generation, with each making their mark on the business and in due course handing it over to the next one.

North West's leading wine wholesaler is now a national player

Armstrong Watson’s latest corporate finance transaction sees the largest independent wine business in the North West, EWGA, almost double its size following the acquisition of Heritage Wine Company Ltd, Wickwar, Gloucestershire. The acquisition means that the Carnforth business will now have the capabilities to operate on a national scale.

Freedom and choice in pensions – Maximise your pension

We have previously explored the future of pension savings, but have primarily focussed on the options available when drawing pension benefits, so let’s now look at saving for retirement and how to maximise the payments you make into pensions.

Following the introduction of workplace pensions and auto enrolment there are different ways of saving now. Auto enrolment is a new law which the government introduced to help people save for retirement and it means that employers will automatically enrol their employees into a pension scheme to which they will also contribute.

I don't have time for this!

It has been suggested that time was first measured over 6,000 years ago by viewing the moon, and the importance of time has featured in our lives ever since. It has significant importance, having economic value “time is money” as well as personal value, due to the awareness of the lack of time we all seem to have “where has today gone”.

A NISA way to save?

1 July 2014 saw the ISA reformed, into a new and simple product imaginatively called…The New ISA or NISA.

Before this date there were limits on the amount that you could save within the cash and stocks and shares elements, but the NISA has a new overall limit of £15,000 per tax year and allows you the option of saving this as cash, stocks and shares or any combination of the two.

Business owners considering selling may need to bring their sale forward

As the general election approaches, there are increasing concerns that Entrepreneurs’ Relief could be vulnerable to change or even abolition.

Entrepreneurs’ Relief was introduced under the Finance Act 2008 with the aim of promoting entrepreneurship and innovation that fuel the economy. It allows those disposing of qualifying business assets to pay a reduced capital gains tax rate of 10% on a lifetime limit of £10m rather than the normal rate of 18% or 28%.

Businesses could be missing out on unclaimed tax reliefs

Accountants and business advisers Armstrong Watson has reason to believe many local businesses are missing out on unclaimed tax reliefs. As owner-managers focus on strengthening their businesses for the future, tax is becoming an increasingly central activity, and can seriously improve the financial health of a business if carried out effectively.

Due to the complex nature of corporation tax, recent feedback suggests that many business owners are unaware of the range of reliefs available, or are unsure if the work they carry out could be eligible for tax relief.

Would you prefer an income or a cash lump sum in retirement?

Regular readers of our articles will be aware of the increased flexibility being introduced to those planning to take retirement benefits from April 2015 onwards.

The new rules offering freedom and choice in pensions for those aged 55 and over come into effect from April 2015 (with some interim arrangements for some more specialist pension contracts, such as executive pension plans), but over recent weeks the Pensions Minister, Steve Webb, has suggested expanding the rules even further, to include those who have already purchased an annuity.

What are your financial resolutions?

Each year most of us start the New Year with good intentions. To keep you on track financially, here are some tips for 2015 that should last beyond the end of January!

Review your expenditure: Find out where your money goes and if savings can be made. This helps you to budget, make plans and keeps you on track.

Tax coding: Are you paying too much tax? Check that your tax code is correct.