Chartwell wins top financial award, 2008 Money Marketing Awards
multi asset investing
looking for a mortgage

Industry News Roundup - The Insider

Please be aware that the following new rules came into effect on the 6th April 2008:

ISA Rules Changes

  • The annual ISA investment allowance has increased to £7,200.
  • Of this, up to £3,600 can be saved in cash with one provider.  The remainder can be invested in stocks and shares with either the same or a different provider.
  • Mini and Maxi ISAs no longer exist. ISA savers can now invest in two separate ISAs each tax year; a Cash ISA and a Stocks and Shares ISA.
  • Mini Cash ISAs, TESSA-Only ISAs (TOISAs) and the cash components of Maxi ISAs are now simply known as "Cash ISAs".
  • Mini Stocks and Shares ISAs and the stocks and shares components of Maxi ISAs are now simply known as "Stocks and Shares ISAs".
  • All Personal Equity Plans (PEPs) have also automatically become Stocks and Shares ISAs.
  • ISA savers now have the facility to transfer money saved in their Cash ISA to their Stocks and Shares ISA.

 

Money Marketing Award 2008

Chartwell Group Ltd is delighted to have won the prestigious title of "Best Investment Adviser" at the Money Marketing Financial Services Awards 2008. Commenting on the award, Mark Nish, Investment Director said:

"I was delighted to accept this award on behalf of Chartwell in recognition of the development of our belief in multi-asset investing. We have provided our clients with the opportunity to gain access to a style of investing which has, for many years, only been available to institutional clients. In these uncertain times, multi-asset investment is proving to be the ideal solution for investors seeking the optimum balance between risk and return."

 

Pension Contributions

One effect of the new lower basic rate tax rate of 20% is a lowering of total contributions into your pension scheme.

For example, prior to 6 April 2008, if you paid £78 into your scheme, the Government would top up the  contribution with the basic rate tax that had already been deducted i.e. £22, making your total  contributions invested £100. From 6 April 2008, you will need to have increased your contribution to £80 per month to achieve the same £100 total investment. 

Pension Contributions for Higher Rate tax payers

If you pay tax at 40%, from 6 April 2008 you will be able to claim an additional 20% relief on your pension contributions - prior to 6 April 2008 this was limited to an additional 18%.

 

Capital Gains Tax Changes

For the 2008-2009 tax year, there will be a single flat rate of Capital Gains Tax of 18% for individuals, trustees and personal representatives on taxable gains.

The annual exempt (tax-free) amount (the AEA) is £9,600 for every individual this tax year.