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Could the Buy-to-Let tax changes be the next pension crisis?

Could the Buy-to-Let tax changes be the next pension crisis?

The National Landlords Association (NLA) has warned that the next pension crisis could be created by the impact of changes to the way buy-to-let properties are taxed, as many individuals are becoming increasingly reliant on funding their retirement through income generated by property.

CamOuse Financial Management Limited Posted by: CamOuse Financial Management Limited
15 Aug 2017


August Market Commentary

August Market Commentary

July got off to the best possible start when Janet Yellen, Chair of the US Federal Reserve, announced that there would be no more financial crises “in our lifetime.” Speaking on a trip to London, she said that the reforms of the banking system since the 2007 to 2009 crash had “minimised the risk of a similar disaster happening again.” Phew, that’s alright then. And if you’re reading this commentary, Ms Yellen, just skip over the bit about Italy…

CamOuse Financial Management Limited Posted by: CamOuse Financial Management Limited
2 Aug 2017


How much should you really be saving for retirement?

How much should you really be saving for retirement?

Retirement should be the time in your life where you’re able to relax and enjoy the fruits of your labour throughout your working life. However, simply paying into your savings or a pension for when you retire might not allow you to do this if you’re not putting enough away. But what does “enough” look like? Here are a few questions to consider to help you get started.

CamOuse Financial Management Limited Posted by: CamOuse Financial Management Limited
2 Aug 2017


Average price for first home reaches record high

Average price for first home reaches record high

A recent study has found that the average deposit first-time buyers need to pay on a home has now risen to nearly £33,000. This is thanks to the average price of a first home now climbing to a record figure of £207,693. The Halifax First-Time Buyer Review discovered that almost half (47%) of all house purchases with a mortgage made during the first six months of 2017 were made by those taking their first step onto the property ladder. Those first-time buyers paid an average deposit of £32,899, approximately 16% of the price tag for the house.

CamOuse Financial Management Limited Posted by: CamOuse Financial Management Limited
17 Jul 2017


How long would your savings last?

How long would your savings last?

A recent survey has found that the typical working person in the UK has around a month’s worth of savings to be able to maintain their current lifestyle should their income stop without warning. The data collected from 2,000 people found that the average person’s savings would support them for 32 days.

CamOuse Financial Management Limited Posted by: CamOuse Financial Management Limited
17 Jul 2017


July Market Commentary

July Market Commentary

Well, apart from the chaotic General Election in the UK. Oh – and the decisive win for Emmanuel Macron in the French parliamentary elections. And the start of the Brexit negotiations. And Italy was forced to bail out two more banks. President Trump pulled out of the Paris climate change agreement – and in Brazil, President Michel Temer was accused of corruption – the first sitting President in Latin America’s largest country to face criminal charges. Anything else? Just another global ransomware attack.

CamOuse Financial Management Limited Posted by: CamOuse Financial Management Limited
3 Jul 2017


What’s happening with DB pension schemes?

What’s happening with DB pension schemes?

Defined benefit (DB) pension schemes continue to be a hot topic in the business and financial worlds as an increasing number of people seek to transfer their pensions from a DB scheme. Recent figures suggest that more than four out of five (83%) of financial advisers in the UK have seen an increased demand for such transfers over the last twelve months, with over half (54%) describing it as a ‘significant increase’. Additionally, 71% of UK advisers said they expected the demand to increase further over the coming year.

CamOuse Financial Management Limited Posted by: CamOuse Financial Management Limited
21 Jun 2017


Falling house prices in the UK for the third month in a row

Falling house prices in the UK for the third month in a row

Recent figures have shown that house prices in the UK fell again in May this year, making it the third month in a row which has seen prices go down. Nationwide, the UK’s biggest building society which carried out the research, stated that this is the first time house prices have fallen in three consecutive months since 2009.

CamOuse Financial Management Limited Posted by: CamOuse Financial Management Limited
14 Jun 2017


  • 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

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    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

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    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 hs 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


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.