Saturday, 29 November 2014
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The most radical changes to Pensions in almost a centuryFlexible Access. From April 2015, total freedom for pension incomes will be allowed, where the ehole pension can be taken as a lump sums if required.
An individual may then be able to spend it, invest it or save ot as they require for UK and Non UK residents alike.

CLICK HERE to read more.

HiFX - international money transfers

Do you know the difference between ‘Spot’, ‘Forward’ and ‘Market Order’ transfers, and why one might be better for them than the other?
Different transfer services help create peace of mind as well as saving money. Speak to HiFX about managing your payments more effectively with services the banks simply don’t offer.

Please contact us for more information and advice on 01753 752 740 or email

Weekly Financial Update

Sterling recovered nicely, tracking back up through 1.26 by the end of the week. We may see some retracement back down from here, however, as the Pound is still being tied to any bad Euro economic news. In the short term we may see the interbank market move towards 1.2450.

UK Equities are vulnerable to political uncertaintyThis pattern of performance highlights how investors do not like uncertainty. The market reaction has been more restrained since, but conditions are hardly settled. With a general election scheduled for next May they are unlikely to get much better.

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Equity Market VolatilityOn a short-term view, the movements in Equity Markets over the last two weeks have not been pleasant, with markets down and volatility up.

From it's recent peak, the FTSE 100 has fallen by nearly 10%, close to the technical definition of a correction. As a result, all gains made over the last year and a half have been wiped out, leaving many investors nursing short term losses.

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Your financial life is what you make itBe Financially Independent - Everyone looks forward to being financially independent, and it is possible if you refrain from making some common mistakes. There are times when you can look back and see many things you should have done differently. There may have been decisions that were supposed to bring you happiness but ended up causing you grief.

Automatic 'Exchange of Information' on the wayOn 29th October, 51 jurisdictions signed a Multilateral Competent Authority Agreement on automatic exchange of information. The first exchange of data will take place by September 2017.

The signing ceremony took place at the Organisation for Economic Cooperation and Development (OECD)’s Global Forum on Transparency and Exchange of Information for Tax Purposes in Berlin. All OECD and G20 endorsed the OECD’s global standard for automatic exchange of information. Most of the major international financial centres also signed.

UK government to abolish 55% pensions death taxOn 29th September, the UK Chancellor, George Osborne, announced that the UK government is to abolish the 55% pensions lump sum death tax charge for defined contributions pensions. The measure will come into force in April 2015 alongside the pension reforms outlined in the Budget.

The new rules mean that if a person dies over the age of 75 years, beneficiaries will only pay their marginal tax rate on drawdowns from the pension. A lump sum option is likely to be available, subject to tax charge of 45%.
When an individual dies under the age of 75 years they will be able to give their pension pot to any beneficiary tax free, whether if the pension is already in drawdown or not.