charlwood-logocharlwood-logocharlwood-logocharlwood-logo
  • Home
  • About us
  • Our values
  • Services
    • Wealth Management
    • Investments
    • Pensions and Retirement Planning
    • Inheritance Tax Planning
  • News & Media
  • Market Updates
  • Contact Us
  • Wealth Management
  • Investments
  • Pensions and Retirement Planning
  • Inheritance Tax Planning
  • news and media
Saturday 23rd January
Client login

The Budget 2014 – Was it good for you?

As the dust from the budget bombshell starts to settle, Investment and Pension specialist, Martyn Charlwood, brings us up to speed with some of the key points.

The Chancellors Annual Budget Statement in March has been described as revolutionary. The pensions overhaul introduced a number of changes including the ability for those over the age of 55 to take their entire plan value as cash from April 2015. 25% of the pot can be taken tax free with the balance added to other taxable income and taxed accordingly. In addition, those wishing to take retirement benefits via Income Drawdown will see the maximum allowable income increase with eventually no cap applying on what can be taken. Sadly, these changes came too late for anyone who had already committed to annuity purchase but those yet to take their benefits have been offered a real opportunity to avoid annuity purchase which is often viewed as restrictive and poor value for money. These changes will therefore benefit thousands and will make pensions an even more attractive proposition due to the flexibility and control handed to individuals. However, careful consideration needs to be given to the tax implications coupled with the risk that access to the entire pension pot may mean more is spent in the early years resulting in an income reduction later on. As with all financial matters, a sensible, well-reasoned approach together with quality advice will help ensure the correct decisions are made.

From July 2015 ISAs will become NISAs (New ISAs). Individuals will be able to allocate up to £15,000.00 to a NISA during the current tax year. No tax is paid on the income received and no capital gains tax is due on any growth. Interest rates on cash ISAs remain very low and for those prepared to introduce a measured element of investment risk, Stocks & Shares ISAs offer greater income potential. Remember, if you don’t invest the maximum into a NISA during the tax year the opportunity is lost forever so it pays to deal with this as soon as possible and kickstart the savings.

The personal allowance – the amount which can be earned without paying tax – has increased to £10,000.00 with a further increase to £10,500.00 from April 2015. This adds £112.00 to the purses and wallets of 20% tax payers this year and a further £100.00 next year. The increases in the higher rate tax threshold means that most people earning up to £100,000.00 p.a. will be better off.

All this plus a new one pound coin…..Wonderful!


  • How diversification provides less risky returns

    How diversification provides less risky returns

    How diversification provides less risky returns. Currently the markets are in a state of flux-economic data is appalling but that’s to be expected given that much …READ MORE
  • Superior performance in both falling and rising markets

    Superior performance in both falling and rising markets

    Superior performance in both falling and rising markets. It’s reasonable to say investment markets have had their fair share of up’s and down’s over recent years....READ MORE
  • October Storms

    October Storms

    October Storms After a relatively calm September, the financial markets were hit by October storms. Since the 1st October, the main UK and European stock-markets have …READ MORE
  • Small is beautiful when it comes to fund management

    Small is beautiful when it comes to fund management

    Small is beautiful when it comes to fund management. We are repeatedly asked, “How do you manage to provide superior returns to many multi-national institutions offering …READ MORE
  • It’s not just about making money, it’s holding onto it

    It’s not just about making money, it’s holding onto it

    It’s not just about making money, it’s holding onto it. The recently released BofA Merrill Lynch Global Fund Manager Monthly Survey shows fund managers’ overweight position …READ MORE
  • News Update January 2018

    News Update January 2018

    Who offers the best wealth management service?... We do of course! The two key ingredients of any wealth management offering are cost and investment performance. Investment …READ MORE
  • Glad Tidings From Charlwood’s

    Glad Tidings From Charlwood’s

    As 2017 draws to a close we can reflect on investment markets that confounded most expectations; despite the constant bickering between two unstable nuclear powers, weather …READ MORE
See All

Latest News

Rated Best Business

  • A Post-summer Update As we return from our virtual summer holidays, we thought it would be useful to update you on the state of the market and on how... Read more ...

Charlwood IFA Ltd

35 Seamoor Road, Westbourne,
Bournemouth, BH4 9AE
Tel: (01202) 768512

Office Facilities

73 High Street, Lymington, Hampshire SO41 9ZA
23a Spencer Road, New Milton, Hampshire BH25 6BZ

Contact Us

Charlwood IFA is a trading style of Charlwood IFA Ltd which is authorised and regulated by the Financial Conduct Authority. Charlwood IFA Ltd is Registered in England; Registered No: 04820268.
The guidance and/or content within this website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK. Telephone calls to and from Charlwood IFA may be recorded for quality, security and training purposes. Copyright © 2020 CharlwoodIFA. VAT No. 141 8758 95. Privacy Policy