August News update from the best financial advisors at Christina Clegg’s office
- According to J P Morgan less than 10% of people in the UK make regular payments into an investment. Over the last 10 years they estimate that someone investing £100 a month would have doubled their money.
- The new HMRC tax whistleblower scheme may be about to pay out bonuses for the first time. Under the scheme whistleblowers receive a percentage of the tax collected if that amounts to more than £1.5 million. It seems up to 1,200 people may be eligible for the rewards once HMRC has calculated what it has recovered. Sounds like a good idea.
- Along similar lines HMRC says it has collected £8 million in tax from over 500 crypto traders and expects this figure to grow significantly. Crypto Exchanges are now required to report trades to HMRC and over 100,000 tax reminder letters have been sent out. About time.
- The Bank of England held base rate at 3.75%
- St James Place (SJP) have reported a 28% fall in net money flows so far this year. 37% down in terms of pensions. The reductions are thought to be a result of their new charging structures. Clients seem to be realising that the best financial advisors locally offer a more cost-effective solution.
- One of SJP’s big rivals Quilter has been ordered to pay compensation to a client for not providing an annual review whilst still charging the client a fee.
- There are now over 15,000 people in the UK over the age of 100. That’s twice as many as there were in 2002. Good news on one hand but it does put added pressure on pensions. There are now also almost 600,000 over 90’s.
- But they are all paying more tax than ever before. In 2024/24 retirees paid almost £30 billion in tax, up from £21 billion the year before. All as a result of the fixed tax thresholds. If Mr Burman wants to know what’s affecting the cost of living, he doesn’t need to look any further.
- 46% of all Inheritance Tax is paid by people who live in London and the South East. This is mainly driven by their house values.
- The economy grew by 0.4% in the three months to June. Less than the 0.6% in the first quarter.
- Inflation rose to 3.1% in July.
- At the same time Moneyfacts found that 20% of savings accounts are earning less in interest than that. So please check the interest on your savings accounts.
- NS&I has announced that the number of prizes will be increased to 4.35% from September up from 3.8%.
- According to Financial Planning Today 82% of firms now provide pension and pension transfer advice up from 48% only 3 years ago. It’s worth checking how long your adviser has been giving advice on a particular product. Christina has been advising on pension transfers for years now as this profile from Money Marketing showed back in 2018.
- HMRC has reported that over the last four months it raised an extra £13 billion taxes over the same period last year. An increase of 7%. Corporation Tax on business was up 13%.
What our customers have said about us.
- We were very grateful to Mr Nixon who first gave us a review back in 2021. Most recently he said “I first contacted Christina over 6 years ago for advice concerning early retirement. Since then, Christina has given me lots of professional advice and has been extremely helpful from my original pension transfer request right through to the present day. I would highly recommend Christina and her team.”
- Patricia also gave us a review on Vouched For where she rated us 5/5. Vouched For ask a series of questions about the advice provided and the experience. Patricia said that she “would recommend Christina to anyone who expressed a need to speak to an adviser.” – Thank You Pat.
- Georgia gave us our first review on Trust Pilot which we’ve just set up. She called Chrstina “the best financial adviser” – high praise indeed. Thank you for your review – happy to help.
Christina Clegg experience and expertise
Do you remember 1994? That was the year that Nelson Mandela became the President of South Africa. The Channel Tunnel was opened and OJ Simpson was arrested after the famous low speed police chase in LA. Tony Blair was elected as leader of the Labour Party and the film of the year was Four Weddings. Seems like a long time ago doesn’t it!
Well, 1994 was also the year that Christina qualified as a financial advisor working for the old National and Provincial Building Society, starting at the Parker Lane Head Office in Burnley.
32 years later Christina is still providing financial advice, pension advice and inheritance tax planning advice to hundreds of clients from her Barrowford Office.
Clients value Christina’s experience and expertise. There are very few local financial advisers with same level of experience. This shows through in her depth of understanding of the pension, investment and inheritance tax planning complexities. She has dealt with hundreds of pension schemes and estimates that she has helped over a thousand local families to achieve their long-term financial objectives.
So, if you value experience speak to Christina Clegg first.
Get more information.
If you would like to speak to one of the best financial advisors, then why not contact Christina today. We offer a free initial meeting to discuss your requirements and explain how our service works. You are under no obligation to use us after that if you don’t want to and we won’t pester you.
So why not call us today on 01282 614444 or e mail us enquiries@ccfps.co.uk or use our contact form online.
Or if you’d prefer to think about it some more, why not have a look at our Facebook page, our Vouched For page, or our Testimonials page to see what our customers think about us.
