MT Financial News - Moore Thompson
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MT Financial News

From time to time, we produce information for clients on a number of topical and important issues, some of which can be found below:

Brits ineligible for state pension to receive letter from government - July 14, 2016
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More than 100,000 people are set to receive a letter from the government informing them that they are unlikely to receive the new flat-rate state pension. Earlier in the year, the Work and Pensions select committee had called on the government to act urgently to let the large number of people who will not receive … Continue reading Brits ineligible for state pension to receive letter from government


How will Brexit affect personal finances? - July 14, 2016
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On 23 June 2016 the UK’s electorate took the decision to leave the EU. This decision has left many people wondering how it will affect their finances in future years. Whilst it is impossible to give a definite answer there are certain things that are already becoming clearer, despite the overall picture remaining very uncertain … Continue reading How will Brexit affect personal finances?


‘Stingy’ ISA rates for loyal customers - July 14, 2016
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Research by consumer group Which? has revealed that many loyal bank and building society customers are experiencing “woeful” interest rates from their ISAs. The group analysed 212 ISAs from 21 UK providers to assess what rates they had on offer. The Which? survey found a significant number of ISA rate cuts over the last six … Continue reading ‘Stingy’ ISA rates for loyal customers


What happens if you inherit an ISA from your spouse? - June 9, 2016
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The rules governing ISAs mean they cannot be opened or held on a joint basis, including with spouses. But many couples will divide their joint savings between them, opening an ISA each to take maximum advantage of the personal tax-free savings limit, which this year is £15,240. However, where a couple may have effectively been … Continue reading What happens if you inherit an ISA from your spouse?


Women lose pension delay fight - June 9, 2016
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Increases in the state pension age announced by the government will leave millions of women born in the 1950s worse off by up to £12,000 and the Work and Pensions Secretary now says he cannot see a “do-able policy solution” to cushion the blow. The Pensions Act 1995 provided for the equalisation of state pension … Continue reading Women lose pension delay fight


Rules tightened on Master Trusts - June 9, 2016
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Last month’s Queen’s Speech saw the government unveil plans for strict new rules on Master Trust pensions in a bid to address worries about their potential dangers. Master Trusts emerged in response to the requirement for employers to meet the 2018 deadline for Auto-Enrolment. Each Master Trust is a single legal entity with a single … Continue reading Rules tightened on Master Trusts


Mortgage lenders raise age limits - June 9, 2016
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Major lenders are beginning to raise their maximum age limits on mortgages, following recent criticisms that secure borrowers are increasingly turned down by banks on account of their age. Nationwide has made headlines by raising its maximum age limit from 75 to 85 – the highest of any major lender in the UK to date. … Continue reading Mortgage lenders raise age limits


Venture Capital Trusts grow in popularity as investors seek strong returns - May 13, 2016
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A recent study by Ipsos Mori, conducted on behalf of the government, has looked into the motivations of investors who have put money into venture capital trusts (VCTs). The long-running government-backed investment scheme is designed to help boost the funding of small, unquoted companies. In return for putting their money into businesses that meet certain … Continue reading Venture Capital Trusts grow in popularity as investors seek strong returns


Getting to grips with the new savings allowance - May 13, 2016
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From 6 April, basic and higher-rate taxpayers have been provided with a personal savings allowance. For those on the basic-rate they can save up to £1,000 tax-free, while those on the higher rate now have an allowance of £500 tax-free. However, those on the additional rate do not receive a savings allowance. The interest can … Continue reading Getting to grips with the new savings allowance


House prices hit new high as buy-to-let stampede unleashes wave of ‘trader-uppers’ - May 13, 2016
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New data has shown that the average house price across the UK jumped by £3,800 in April as the market experiences a knock on effect from the buy-to-let rush of the previous months. According to property website Rightmove the average asking price for properties in England and Wales rose 1.3 per cent to £307,033 in … Continue reading House prices hit new high as buy-to-let stampede unleashes wave of ‘trader-uppers’


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