News Archives - JTM Financial Services

State Pension Triple Lock Changes Proposed – What could this mean for your retirement income?

Key Points ✅ No immediate changes to the State Pension ✅ Triple Lock remains in place until at least 2030 ✅ Proposed move to a “Double Lock” from April 2030 ✅ Government says savings would help fund social care reforms ✅ Retirement planning remains as important as ever What Is The State Pension Triple Lock? […]

Christmas 2025 Opening Times

Season Greetings from all of us at JTM! Our Opening Times Over Christmas will be Monday 22nd – Open Tuesday 23rd – Open Christmas Eve – Closed Christmas Day – Closed Boxing Day – Closed Monday 29th – Open Tuesday 30th – Open Wednesday 31st – Closed New Year’s Day – Closed Friday 2nd […]

What was in the 2025 Budget?

Speculation was rife in the lead up to the second budget of Rachel Reeves’ tenure as chancellor. Anaemic growth and the concessions in the Welfare Reform bill meant it was clear that the Treasury would need to raise more in tax. Yet in the aftermath the story is at least as much about what wasn’t […]

What can we expect from the Autumn Budget?

Rachel Reeves is due to deliver her Autumn Budget on 26th November. Naturally, there is a great deal of speculation about what the budget could include. This is especially true in 2025 due to the well publicised pressures on the public purse and the need for the Treasury to find more money or cut spending. […]

What was in the Autumn 2024 Budget?

Rachel Reeves’ first Budget statement at the dispatch box was historic in a number of ways. Most obviously, Reeves became the first woman to deliver a UK budget as Chancellor of the Exchequer. This was also the first Labour budget since the late Alistair Darling delivered his, 14 years ago. More consequentially for the UK […]

What was in the 2024 Spring Budget?

A further cut to National Insurance was perhaps the headline announcement from Jeremy Hunt’s budget, likely to be his last as Rishi Sunak is widely expected to appoint a replacement if the Tories win at the polls later this year. The budget comes as the UK emerges from a shallow ‘technical recession’ with the latest […]

Christmas Opening Hours

Season Greetings for all of us at JTM! The Christmas and New Year 2023/24 office hours will be as follows: Thursday 21st – Open as usual Friday 22nd – Closed Monday 25th – Closed Tuesday 26th – Closed Wednesday 27th – Open Thursday 28th – Open Friday 29th – Closed Monday 1st – Closed Tuesday […]

What was in the Autumn Statement?

Jeremy Hunt took to the dispatch box for the third major statement of his tenure as Chancellor with more fiscal headroom for tax cuts than might have been anticipated earlier in the year. The pre-statement message from the Treasury was that “The Autumn Statement will help to get people back into work & boost […]

What was in the Spring Budget?

Despite many of the key announcements being leaked in advance, Jeremy Hunt’s first budget did contain some surprises. The budget was presented in a context of slightly improved fiscal conditions in comparison to the Autumn 2022 forecast. The chancellor’s first raft of measures in Autumn 2022 were intended to settle and reassure markets following the […]

Christmas 2022 Opening Times

Please find below our opening times over the festive period. Friday 23rd December – 9am-5pm Monday 26th December – CLOSED Tuesday 27th December – CLOSED Wednesday 28th December – 9am-1pm Thursday 29th December – 9am-1pm Friday 30th December – 9am-1pm Monday 2nd January – CLOSED Tuesday 3rd January – 9am-5pm We will also be periodically […]

Office Closure – Afternoon 2nd December

Please note that the office will be closed on the afternoon of Friday 2nd December 2022 for staff training.

Power of Attorney – woman convicted of fraud after misuse of funds

A woman has received a suspended prison sentence after being pleading guilty to fraud by abuse of position at Bournemouth Crown Court. You can read more about the case here. A power of attorney gives the attorney the legal authority to deal with third parties such as banks or the local council. Some types of […]

What was in the Spring Statement?

Rishi Sunak’s statements to the house thus far during his tenure as chancellor have been primarily aimed at relieving the financial stress on individuals and businesses caused by the pandemic. On this occasion however, it is against a backdrop of high inflation and a looming cost of living crisis that he took to the dispatch […]

Ukraine Crisis: what investors may expect

In light of the outbreak of further hostilities in Ukraine, I thought it might be useful to share out thoughts on what investors may expect. The first thing to note is that todays market sell offs are to be expected in the light of the news, but that whether they are short lived or […]

Christmas 2021 Opening Times

Please find below our opening times over the festive period Thursday 23rd December – OPEN Friday 24th December – CLOSED Monday 27th December – CLOSED Tuesday 28th December – CLOSED Wednesday 29th December – 9am-1pm Thursday 30th December – 9am-1pm Friday 31st January – CLOSED Monday […]

Important information for trustees and settlors of trusts

The UK Trust Register has recently changed its criteria and now requires virtually all Trusts to be registered with them. Previously, only Trusts with a tax liability were required to register. The UK Trust Register is simply a central record of information held by the HMRC relating to Trusts. It has imposed new rules to […]

What was in the Autumn Budget 2021?

Autumn Budget 2021 Rishi Sunak took to the dispatch box to deliver his first autumn budget against a backdrop of rising inflation, soaring energy prices, supply chain failures and very high government borrowing. His ‘big freeze’ mini-budget in the spring fixed most tax rates and thresholds until 2025 and there were no real changes yesterday […]

State pension underpayments: how to find out more

An investigation from the National Audit Office has revealed that more than 130,000 women have not received their full State Pension entitlement due to a series of “human errors” over a period stretching back to 1985. The initial errors by the Department of Work and Pensions (DWP) only relate to women who reached State Pension […]

Explained: Tax changes to address health and social care

Yesterday the government announced tax changes to fund £12 billion a year to be spent on the NHS and social care across the UK. National Insurance contributions (NICs) will increase by 1.25% for one year only for employees, employers and the self-employed from April 2022. This will cover both Class 1 (employee and employer), Class […]

Summary of the spring budget 2021

This year’s budget came at a vital moment for the government, as Rishi Sunak sought to strike the right balance between supporting the economy through the Covid-19 crisis and preparing to deal with the enormous debt burden that measures such as the furlough scheme have inevitably created. But despite fears from some quarters of […]

Covid -19 (Coronavirus)

October 2021 Our first priority as a company is the safety and wellbeing of our clients, staff and the wider community. We are conducting meetings both online via video call and face to face. We will check with you to see which you would prefer. All staff are back to working their usual hours and […]

Professional Advice provides a £47,000 wealth uplift over a decade – ILC and Royal London joint study

If you received financial advice in 2004/06 you would, on average, have benefited to the tune of £47,700 by 2014/16 according to new research from Royal London and the International Longevity Centre. The study, which relied on an in-depth analysis of the Office for National Statistics (ONS) wealth and assets survey underlines the importance of […]

New research shows Alzheimer’s a major concern for retirees

Results of new research in to attitudes towards developing Alzheimer’s in retirement has been published as part of the global initiative to increase awareness of the condition. The publication of the study’s findings, which coincided with World Alzheimer’s Day on the 21st September, was conducted by investment and pension provider AEGON. 14,400 workers and 1,600 […]

Brexit – some key principles when investing

As every UK investor is aware, the issue of Brexit has had a destabilising influence on the political and constitutional landscape, as well as on the future shape of our global trading relationships. All the uncertainty can be unnerving but there are a few key principles to keep in mind that offer some help. Of […]

Christmas Opening Times 2019

Please find below our opening times over the festive period Monday 23rd December – OPEN Tuesday 24th December – CLOSED Wednesday 25th December – CLOSED Thursday 26th December – CLOSED Friday 27th December – 9am-1pm Monday 30th December – 9am-1pm Tuesday 31st January – CLOSED Wednesday […]

Capital Gains Tax: gov.uk overview

Link to the UK Government overview of Capital Gains Tax. www.gov.uk/capital-gains-tax Please note that this site provides information only and does not constitute advice.

Be aware of financial fraud this Christmas

A happy Christmas from all of us at JTM Financial Services. At this time of year many of us do more online shopping than usual as well as receiving lots of unsolicited mail and emails. Consequently, it can be especially hard to tell the difference between legitimate retailers and scammers. We hope that you […]

Budget 2018 – a summary of the key points

Background to the Autumn Budget 2018 Yesterday’s budget speech was a unique moment for more than one reason. It is no secret that Philip Hammond would not have been taking to the dispatch box to deliver his second Autumn Budget had Theresa May won a majority in the snap election of 2017. As it turned […]

New Study: Women under-insured compared to men

A new study by life assurance giant, Zurich Assurance has revealed the scale of the gap between men and women when it comes to their protection insurance. Protection generally takes the form of life cover, critical illness cover or income protection. Zurich’s study included more than 2000 participants and showed that women were less likely […]

Proposed Care ISA: a solution to the long term care funding crisis?

As concern grows over the looming prospect of a radical increase in demand for long term care services, the Government is considering launching a new ISA which will be free from Inheritance Tax (IHT). A Telegraph article revealed that the ‘Care ISA’ is being considered for inclusion in the forthcoming social care Green Paper. Worries […]

Factors in the current market drawdown

The past six months have seen an increase in market volatility to levels we were more used to seeing in the early years of the decade. We have witnessed a global market drawdown since the peak in January 2018 and this has inevitably affected values across all portfolios. Market peaks often give rise to a […]

AEGON: The average UK retiree will need £300,000 pension pot at retirement

A new study by the pension provider AEGON suggests that the average earner with an income of £27,000 per annum will need to save £300,000 in to a pension in order to maintain their standard of living in to their retirement. The figure assumes that pensioners will need around two thirds of the income they […]

Christmas Opening Times

A Very Merry Christmas and Happy New Year to all our clients. Our opening times over the festive period are: 22nd December – Open in the morning 23rd – 27th – Office Closed 28th – Open in the morning 29th – Open in the morning 30th – 1st Jan – Office Closed 2nd Jan onward […]

Aviva research: Millions of older workers pin hopes of a comfortable retirement on downsizing, inheritance or lottery win.

A new research commissioned by Aviva in to older workers’ pension planning has shed new light on the behaviour and attitudes of those approaching retirement. Some of the main finding were: Retirement prospects hang in the balance as over-50s workers rely on downsizing (25%), an inheritance (24%) or a lottery win (13%) to afford a […]

Advisers front and centre in the fight against scammers

In the past year professional advisers have taken important steps to reduce the impact of scammers. The fight against cold calling for pensions and investments was led by a petition from the industry supported by the Professional Finance Society (PFS) and started by Darren Cooke from Red Circle Financial Planning. The petition ended with over […]

Study finds that people who take advice are on average £40,000 better off

A new collaborative study by think tank the International Longevity Centre and Royal London has found that individuals who sought financial advice between 2001 and 2007 “accumulated significantly more liquid financial assets and pension wealth than their unadvised equivalent peers” by 2014. The report categorised subjects in to affluent and just getting by and found that both groups […]

Inheritance Tax receipts reach another new high

HMRC have confirmed that they received £4.9 billion in Inheritance Tax in the last year, 4% more that was predicted by the OBR. The OBR expects IHT receipts to rise further to more than £6bn by 2022. Read the full article here. A large Inheritance Tax bill is always unwelcome and can cause a great deal […]

Seven reasons why pensions are still a great idea

Pensions continue to present investors with a unique opportunity for growth, generous tax treatment and planning a legacy for dependants. Despite this, they still have an image problem. Pensions are often portrayed as poor value for money, inflexible and fraught with complexity. Add to this the regular articles in popular press about low annuity rates […]

What your JTM Adviser can do for you – the service we provide

We are very proud of the service we provide to our clients. Sometimes though, it can be hard to communicate the full scope of the benefits we offer. It isn’t always easy to see how phrases like “tax efficiency” and “cash flow modelling” apply to you and your circumstances, especially when these terms aren’t properly […]

Residence Nil Rate Band – Quick Guide

The Residence Nil Rate Band (RNRB) was big news when it was announced in 2015. Headlines like, Inheritance tax joy for families: Middle classes to escape death duty as threshold rises to £1 million (Daily Mail 2015) perhaps made the new legislation sound more generous than it was to those disinclined to read beyond the […]

Think tank proposes long term care funding model

The think tank Reform has released a report in which it proposes a dramatic solution to the looming social care crisis. The proposal is for a compulsory contribution from working age adults in to an insurance scheme which will help to pay for the cost of their care should the need arise. The think tank found […]

FCA report on asset management: some of the main findings

The FCA has just completed their market review of the asset management industry. Asset managers in the UK are responsible for more than £6 trillion of invested assets including the pensions and investments of UK individuals and companies. Whilst acknowledging the importance of the industry to the economy and to investors, the report had a […]

Local bank branch closures are symptomatic of a wider UK trend

Ferndown has lost two bank branches this year in Natwest and HSBC. The HSBC branch in Wimborne closed its doors just one year before and the Natwest branches in Boscombe, Westbourne, Winton, Canford Cliffs and New Milton are set to be closed or have closed already. The consumer group Which? reported earlier in the year […]

Pensions Triple Lock set to stay?

One eye-catching pledge from the Conservatives during the 2017 General Election was to ditch the so called ‘Pensions Triple Lock’ which protects the buying power of pensions by increasing them by either price inflation, wage inflation or 2.5% every year, whichever is greater. This triple lock looked likely to be replaced with a double lock, […]

ISAs – a quick guide

Quick Guide to ISAs Individual Savings Accounts (ISAs) are one of the most popular ways of saving in the UK. Depite this, ISAs are often misunderstood and are praised and disparaged in equal measure by press and public alike. There have been a number of changes to the rules surrounding ISAs, changes to how […]

Spring Budget 2017 Highlights

This first Spring Budget was also Philip Hammond’s last as he intends to move future budgets to the Autumn. Just as it was in the 2016 Autumn statement, one of his challenges was to lessen fears surrounding Brexit and the prospect of contagion from any wider global instability over the coming year. It was therefore […]

What was in the 2016 Autumn Statement?

This November’s Autumn Statement is both the first and last the Philip Hammond will deliver as chancellor. He announced that the Spring Budget will be replaced by a Spring Statement and an Autumn Budget in future. The statement provided an opportunity to ‘steady the ship’ and re-assured the UK public following the summer Brexit vote […]

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