Directors....are you ready?

I read an article through Reuters News Agency recently that confirmed the UK had overtaken Japan as the 2nd largest global pensions market. It is good to see that many of us clearly take saving for our retirement seriously. Hopefully with the continued introduction of the mandatory employer Auto-Enrolment/ Workplace Pension roll out for the next 2 years, we will see this pension’s savings market increase still further. Taking this further, having seen larger employers now enrolled, many SME's are seeing their Staging Dates coming in 2014 and Chapters Financial are certainly seeing a higher level of enquiries on this topic. We have certainly experienced the process and note that advice to reach implementation is vital to achieve the required objectives, from choosing a scheme, to setting up the paperwork to reporting the required notifications to The Pensions Regulator. Starting the process early is important, scheme implementation does take time to prepare, present and finalise (you have been warned!). 

The maximum contribution to pensions per individual in the tax year is falling from £50,000 in this tax year 2013/2014 to £40,000 from 06th April 2014 (from all sources/ Gross contributions). These dates and sums might well be of interest to directors and business managers who are looking to offset business profits as they approach their company’s trading year end. For many limited companies, this might be 31st March, which closely ties in with the end of the tax year. 

It is important to check the 'Pension Input Period' (PIP for short) of the pension you make your contribution to BEFORE making a large contribution. If the PIP period ends after the end of the tax year, you may find that your contribution is restricted to £40,000, rather than the current level of £50,000. 

If you would like guidance and advice on making pension contributions from your business, either by choice for directors, or through mandatory requirements for Auto-Enrolment, then please contact the team at Chapters Financial at either our Guildford (01483 578800) or Woking (01483 330800) offices. 

No individual pension/ financial advice is provided during the course of this blog. 

Keith Churchouse FPFS
Director
Chartered Financial Planner
ISO 22222 Personal Financial Planner 

Chapters Financial Limited is authorised and regulated by the Financial Conduct Authority, number 402899.

 

On-Site Auto-Enrolment Employee Pension Presentations / Seminars

As the momentum and delivery requirements of pension Auto-Enrolment (AE as it is sometimes known) become paramount for many more employers (as their Staging Dates come closer), we have prepared an employee focussed presentation that meets the needs of the new pension legislation and themed to the employers requirements. This is illustrated in the picture of our Financial Planner, Simon Hewitt, delivering the details and requirements of Auto-Enrolment to the employees of a medium-sized company in their locality in early autumn 2013. This was followed by a Questions & Answers session, along with hand-outs, to answers points raised by the audience, with some very positive feedback to this required retirement initiative.

Chapters Financial Limited is employed by companies to implement and deliver a smooth transition of the requesting companies Auto-Enrolment pension scheme, from scheme selection, initial administration, implementation, presentations and end administration including The Pensions Regulator notifications, where required. Our recent certification to British Standards /BS8577 confirms our system based programme aimed to deliver consistent high quality outcomes. We would hope that post-implementation, we can work with employers, their staff and pension scheme to ensure its continued success.

No individual advice is provided in the course of this Blog. Employers and those affected by Auto-Enrolment pensions. As independent financial advisers (IFA), we can guide employers to the right scheme for the needs of their employees and to implement the arrangement in good time (with enough notice) to meet the outcomes of this legislation.

Please contact Simon Hewitt and the team at Chapters Financial to discuss your needs on 01483 578800 (Guildford) or 01483 330800 (Woking).

Keith Churchouse FPFS
Director
Chapters Financial Limited
ISO 22222 Personal Financial Planner
Chartered Financial Planner
Certified Financial Planner

Chapters Financial Limited is authorised and regulated by the Financial Conduct Authority, Number 402899. 

Chapters Financial Newsletter

At Chapters Financial Limited, we like to keep our clients and enquirers informed of topical issues and topics that bear relevance to their financial planning. The May 2013 Newsletter has just been produced and will shortly be made available to our clients and contacts in the next few days.

In this blog, I have provided a flavour of what is included, amongst other topical issues, for your consideration.

If you would like to consider the potential for this planning further then please contact the team at Chapters Financial.

Inheritance Tax & Charitable Giving

We are pleased to have received many enquires seeking advice on ways that inheritance tax can be saved. As a highly topical subject, many clients and enquirers also consider charitable giving as a way of saving inheritance tax, both through their lifetime and through their wills. We have introduced a new Webpage entitled Charitable Giving, which details the opportunities further. If you would like to know more or to consider ways of supporting local organisations in an efficient manner then please contact Keith Churchouse.

Auto-Enrolment/ Workplace Pensions reminder

The implementation of Auto-Enrolment with the use of Workplace Pensions is well under way for many employers, starting with the largest employers and moving in company size to the smallest by 2016/2017. We have received many enquiries from Business owners on this subject and are well placed to provide advice and service in implementing the relevant requirements. If you would like to know more or to know when your business’s Staging Date is then please let us know.

The New Financial Conduct Authority

As noted in previous Newsletters, the Financial Services Authority has now ended and has been replaced by the new Financial Conduct Authority at the beginning of April 2013. We are pleased to have met with the new regulator in early April following their transition and we welcome this change and look forward to their work into the future.

New Chapters Financial APP

At Chapters Financial Limited, we try to keep ahead in terms of our communications and the way these can be received. Many of you will have visited our website to access Blogs, Podcasts, Press Comment and other information. This information can also now be accessed by our new APP, suitable for Computer tablets and Smartphones. Please see our website to download your additional access to news, updates and information from Chapters Financial Limited.

No individual advice has been provided during the course of this blog. If you would like to receive individual advice on the topics above, or receive our regular newsletter, then please contact the team at Chapters Financial Limited on 01483 578800.

Keith G. Churchouse
FPFS ISO22222 Certified Financial Planner Director and Financial Planner

Chapters Financial Limited is authorised and regulated by the Financial Conduct Authority, number 402899.
The Financial Conduct Authority does not regulate Tax advice.