This is our first Blog of 2012 & a first for a while so apologies to our readers! The reason for Blogging was that I was reading an article on the MorningStar website (www.morningstar.co.uk) about New Year Financial Planning Resolutions. Now I know a lot of us make various resolutions at the start of each year (lots of us fail to follow these through) but I would urge/advise all of you to consider the following taken from their website;
Have you taken full advantage of all the tax-sheltered options available to you—namely, your company pension scheme and ISA investments? For 2011-2012, the maximum ISA contribution limit is set at £10,680, rising to £11,280 from April 6, 2012, up to half of which can be saved in cash. In the autumn of 2011 the U.K. government also introduced Junior ISA’s allowing friends and family to save or invest £3,600 on a child’s behalf.
There are just three months left to top up your 2011-12 ISA so make sure you’ve done your research and selected your ISA-wrapped investments.
Why not also increase your pension contributions to the maximum allowable level for the year ahead to maximise employer matching contributions? If you’re not signing up for the total amount your employer is willing to pay into your plan then you’re leaving free money on the table.
If you would like any advice on the above please contact us NOW for a FREE initial chat on 0191 281 9862 or e-mail firstname.lastname@example.org with your enquiry!