Our Investment Commentary for Q4 2014 (1 October – 31 December)
World markets experienced a very volatile quarter which included a sharp sell-off in equities at the beginning of October. However, sentiment quickly returned, reflected by a gain of 4.13% for the FTSE World Index in Q4.
Proposals to allow pensioners to cash in annuities
Pensioners would be able to surrender annuities for a cash lump sum under proposals announced by Steve Webb, Pensions Minister, affecting potentially up to 5 million pensioners in the UK and around £11bn annual pension income.
Pension carry forward rule
The maximum amount you can contribute to a pension and benefit from tax relief is limited by the annual allowance of £40,000 (2014/15) or your earnings if lower.
New Single-Tier State Pension
The new single-tier State Pension is due to come into force in April 2016.
Pensioner Bonds from NS&I
Following the Autumn Statement, National Savings and Investments (NS&I) has announced the launch of new bonds for investors aged 65 and over in January 2015.
Proposals for new inheritable ISA
Details have begun to emerge on how the new inheritable ISA rules will operate.
New proposals to block multiple-trust IHT planning
The government has published new legislation to deter inheritance tax (IHT) mitigation through the use of multiple trusts.
Market Commentary – November 2014
Over the last month, we have continued to see a divergence in the pace of economic growth across different regions of the globe.
Autumn Statement – Stamp Duty Reforms and Tax
Reform of residential property stamp duty so that rates apply only to that part of the property price that falls within each band:
Autumn Statement – U-Turn on Trusts Taxation
The Government has confirmed that it has scrapped plans to introduce the Inheritance Tax (IHT) settlement Nil Rate Band and replace it with new rules to be announced in next week’s Finance Bill.