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Camouse Blog

Alleviating your inheritance tax bill shouldn’t be a worry

Alleviating your inheritance tax bill shouldn’t be a worry

Inheritance tax (IHT) can be an incredibly punitive tax on your estate. However, by making the right choices, you can vastly reduce the amount of your estate liable for IHT.

While other tax free allowances, such as the ISA allowance, have risen in recent years, the IHT threshold has remained stagnant. Since April 2009, the individual allowance has remained at £325,000. Anything above this is taxed at 40%.

CamOuse Financial Management Limited Posted by: CamOuse Financial Management Limited
17 Apr 2019


How safe are your savings?

How safe are your savings?

With your capital tucked away in savings accounts, investments and mortgages, you’d assume that there is some kind of protection in place. But exactly how safe are your savings in the event of, for example, an authorised financial services firm going bust? That’s exactly what happened during the 2008 banking crisis, and UK taxpayers had to shell out £4.5bn to the people who had saved their money with Icelandic bank, Icesave.

CamOuse Financial Management Limited Posted by: CamOuse Financial Management Limited
8 Apr 2019


March markets in brief

March markets in brief

Unless you’re lucky enough to have spent the month in a peaceful place of extreme isolation, we’re sure you’re aware of the Brexit chaos currently taking place in Westminster. As at the time of writing, nothing has been agreed in parliament and all is very much liable to change. Of course, the eventual outcome will have a large impact on global markets. We are past the Brexit deadline of 29 March and Britain’s future is as clear as mud.

CamOuse Financial Management Limited Posted by: CamOuse Financial Management Limited
5 Apr 2019


April Market Commentary

April Market Commentary

We have commented before on the difficulty of ‘hitting a moving target.’ Sometimes in writing this commentary you run the risk of what you write being overtaken by events, and that has never been more true than this month. In the short time between us publishing notes and you reading them it is possible that the Brexit section will be different.

CamOuse Financial Management Limited Posted by: CamOuse Financial Management Limited
5 Apr 2019


What to know about ISAs in 2019/20

What to know about ISAs in 2019/20

The rules around ISAs (or individual savings accounts) change relatively often and different types of ISA rise and fall in popularity depending on where savers consider the most competitive place to put their hard earned money.

CamOuse Financial Management Limited Posted by: CamOuse Financial Management Limited
2 Apr 2019


The perks of saving into a Junior ISA

The perks of saving into a Junior ISA

There are so many factors for a parent to consider in doing their best to make sure their children are prepared for the world when they reach adulthood. A lot of those things will be out of your control, but one thing you can consider that could make a real difference is investing into a Junior ISA. If you start early you could accumulate a pot of over £40,000; that’s a birthday present that no 18 year old would be disappointed with.

CamOuse Financial Management Limited Posted by: CamOuse Financial Management Limited
21 Mar 2019


Spring Statement – March 2019 Overview

Spring Statement – March 2019 Overview

This year it is impossible not to put the Spring Statement in a political context. On Monday night, the Prime Minister flew to Strasbourg and yet another meeting with Jean-Claude Juncker. She claimed to have secured a ‘legally binding’ agreement on the Northern Ireland backstop, but by Tuesday lunchtime, Attorney General Geoffrey Cox was delivering his opinion that ‘nothing had changed.’

CamOuse Financial Management Limited Posted by: CamOuse Financial Management Limited
15 Mar 2019


AE policy adds pensions for 10 million workers

AE policy adds pensions for 10 million workers

The Department for Work and Pensions has hit its target of bringing 10 million workers into occupational pensions, a year ahead of schedule.

To give that figure a sense of perspective, 10 million is pretty much the entire population of Sweden.

CamOuse Financial Management Limited Posted by: CamOuse Financial Management Limited
7 Mar 2019


  • I thought CamOuse were very helpful and dealt with my enquiries promptly.

    5 out of 5

    Mr D Mowatt

    Clive Nickalls

  • I have been a client of CamOuse's for many years. My advisors have provided assistance with mortgages, financial planning, investments and most importantly my future. The team remain passionate and professional and I would recommend CamOuse without question.

    5 out of 5

    Mr L Isbell

    Trevor Honey & Clive Nickalls

  • The staff are always happy to help.

    5 out of 5

    J Pearce

  • Lee has always given me excellent advice when choosing a new mortgage. I would highly recommend him.

    5 out of 5

    R O'Dell

    Lee Pooley

  • Everyone is very friendly, approchable, helpful and professional.

    5 out of 5

    G Parr

    Trevor Honey

  • I would like to thank Lee for all his help, he was amazing!

    5 out of 5

    Silk & Schwarz

    Lee Pooley

  • Lee was recommended to us by 2 of his existing clients, colleagues and friends of ours and I'm glad they did so! He made the whole process much simpler then we were expecting.

    5 out of 5

    Burgess & Bedford

    Lee Pooley

  • Very happy with Clive Nickalls' advices. Very professional and friendly approach - thank you Clive.

    5 out of 5

    Keutgen & Rouhaud

    Clive Nickalls

  • Lee has helped us on several occassions and we always appreciate and value his time and efforts.

    5 out of 5

    I & A Murphy

    Lee Pooley

  • Both Lee and Grace are great!

    5 out of 5

    E Heaver

    Lee Pooley

  • I really appreciate the prompt, friendly, efficient service.

    5 out of 5

    V Hardy

    Clive Nickalls

  • Very pleased with the service provided and happy to recommend to my customers and friends and family.

    5 out of 5

    M Chadburn

    Clive Nickalls

  • I would like to express my thanks for the excellent service I have received and a special thank you to Hannah for keeping me updated and dealing with my queries in a very efficient and professional manner.

    5 out of 5

    T Long

    Matthew Theobald


CamOuse Financial Management is authorised and regulated by the Financial Conduct Authority.

None of the information contained in this website should be considered as personal recommendation and is for information only. Should you wish to make a financial transaction we recommend that you take personal financial advice after a thorough review of your personal and financial circumstances.

The information contained within the website is subject to the UK regulatory regime and is therefore primarily targets at customers in the UK.

Registered address: Unit 111, Lancaster Way Business Park, Ely, Cambridgeshire, CB6 3NX

Registered in England and Wales. Registered No: 5662116.

Peninsula: Accredited Standard

Understanding the true cost to your business

Pension arrangements must be available for all employees. There are three categories of employee:

Eligible

Aged between 22 and State Pension Age (SPA) with qualifying earnings over the Auto Enrolment earnings trigger

Non-eligible

Aged between 16 – 74 with qualifying earnings between lower threshold and the Auto Enrolment earnings trigger
 
Aged between 16 -21 or SPA – 74 with qualifying earnings over Auto Enrolment earnings threshold

Entitled

Aged between 16 -74 with earnings below the qualifying earnings lower threshold

Important Notes

  1. Eligible jobholders must be auto-enrolled
  2. Non-eligible jobholders are allowed to be auto-enrolled if they want to
  3. Entitled workers are entitled to join a pension scheme, but the employer doesn't have to contribute

Qualifying Earnings lower threshold

£5,772

Qualifying Earnings upper threshold

£41,865

Automatic Enrolment earnings trigger

£10,000

Minimum contribution level options:

8% of Qualifying Earnings of which

3% is employer's (starting at 1%)

9% of Basic Salary of which

4% is employer's (starting at 2%)

8% of Basic Salary of which

3% is employer's (starting at 1%)

(Where basic salary is at least 85% of total earnings)

7% of gross earnings of which

3% is employer's (starting at 1%)

Pay reference period

Essentially the frequency that the jobholder is paid e.g. monthly, weekly etc. but with reference to the tax month, week etc. therefore it may not be the same as the payroll period.

Deduction and payment of contributions

It is the employer who is responsible to calculate, deduct and pay all contributions to the AE scheme. NOTE – the first and last contributions are likely to be for less than a full pay reference period and should be adjusted accordingly.

Payroll services

It can be seen that it is very important that the payroll system synchronises with the AE scheme otherwise the employer will not be carrying out all requirements and then penalties will be incurred.

Staging date

Based on the employer’s payroll size as at 1 April 2012 and can be found at www.thepensionsregulator.gov.uk/employers using your PAYE reference. The Qualifying Workplace Pension Scheme must be registered with The Pensions Regulator within 4 months of the staging date.

Compliance and communication

Postponement

Auto-Enrolment can be postponed for up to 3 months:

  • For current eligible employees
  • For workers that meet the criteria in the future for the first time e.g. avoid joining temporary or lower paid workers

Opt-Outs

All eligible employees must be auto-enrolled, but can, with the correct notification, opt-out within one month of joining the scheme and be treated as never having joined. They can opt back in and will automatically be auto-enrolled every 3 years in any case!

Communication

There is a wide range of information that must be provided to all employees at certain times, such as:

  • The date auto-enrolment took place for eligible jobholders
  • That non-eligible jobholders have the statutory right to opt in
  • Entitled workers have the right to request the employer to enrol them into a pension scheme

Salary sacrifice

Contributions can be paid by effectively reducing salary, which saves on NI contributions, but employee must choose to do this – they cannot be forced, so a contractual variation will need to be implemented.

Default investment fund

Investment Options

All eligible employees will be automatically invested into a default investment fund, which is a balanced risk fund that is “life styled” to account for the employees approach to retirement. They also have the option to invest in a wide range of funds of their choosing.