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Over the last few weeks I have been presenting the annual review of the Spofforths pension scheme to its members. This is always interesting for me, as I get to meet people outside of the usual demographic range plus the Spofforths Financial Planning clients. True, there are plenty of accountants in their 50’s and above but there are also many in their 20’s and 30’s.

I was delighted to welcome more than one hundred guests to Christ’s Hospital School on Wednesday, as they attended our free wealth management seminar. The event was a great success and we received positive feedback following the presentations from our wealth management team. The school was the perfect venue for the seminar and John Franklin, the Head Master, kindly gave us all a tour of its ancient chapel.

Yesterday saw the launch of the new long-term tax free savings accounts, known as Junior ISAs. These are available for children who are under 18, live in the UK and don't have an Child Trust Fund. Like an 'adult' ISA each child can have one cash and one 'stocks and shares' Junior ISA at any one time. Anybody can put money into a Junior ISA, the total being £3,600 each year. Interest and gains received in this account will be tax free.

These documents will provide you and your nearest and dearest with peace of mind by protecting your assets and allowing health decisions to be made for you should you become unwell. Life can be very uncertain and if the worst happens you should feel comforted that you have made all of the necessary arrangements to ensure your assets are not only protected but can also be accessed for your benefit and for those whom you support. Your spouse, partner or children for instance.

A very respected charity has just revealed that one in three people with a Will have admitted it is out of date and needs amending. In money terms, this means that over £1.1 trillion of assets could be at risk of ending up in the wrong hands. What a frightening thought! We remind all our clients to dust off their Wills and check that they are still up to date after as little as three years. What were you doing three years ago? The top five major life events are marriage, divorce, an addition to the family, the death of a family member and cohabitation. Have any of these occurred to you during that period? These are but a few of the major life events which might cause us all to think about updating our Wills.

This week David Cameron announced that a new fund will be set up to finance charities and social enterprises. Big Society Capital, estimated to be £600m, is a mixture of money from dormant bank accounts and the main High Street lenders. To receive funding social enterprises must prove they can repay an investment through the income they generate.

Philip Wise, Managing Director of Spofforths Financial Planning, features in the August edition of Sussex Life. He looks at the tax issues you might face in retirement and provides some valuable advice on how to invest for the future.

Spofforths LLP would like to invite you to visit them

at The Pension Show 2012.

Daniel Grainge from Spofforths’ Tax Consultancy team spoke to landlords at the Worthing NLA meeting on Wednesday evening. He highlighted the Capital Gains and Inheritance Tax issues surrounding letting property. Members were particularly interested to hear how to use trusts and maximise main residence relief.

Today was the first day of the Professional Pensions Show 2012 at ExCel, London. Jo-Anne Haulkham from Spofforths’ Specialist Pensions Team were offering advice and a coffee to visitors to stand 104.

In his Autumn Statement the Chancellor announced further reductions in both the pension contributions that will qualify for tax relief and the maximum pension fund an individual can build up during their lifetime.

The National Landlords Association (NLA) meeting in Crawley, on 28 November 2012, attracted a number of members and non-members who were keen to discuss the rental market and related matters. After making a presentation about tax, I received a positive response as landlords were interested to learn more about the issues they will have to deal with when they let property. They were also keen to gain professional advice about Capital Gains and Inheritance Tax. Landlords benefitted from the event and I look forward to attending other NLA meetings in the future.

In April 2017 the way that the state pension is calculated will become a little less complex than it already is today.

HMRC have announced a new campaign for individuals who have sold residential property which is not their main home and they have not informed HMRC of the sale.

Spofforths Private Client Consultant, Kai Lei Lee, recently produced an article about the ‘essential spring clean’ and it features in the latest edition of Caring 4 Sussex magazine.

We are co-hosting an educational seminar for charity trustees with Rathbones on Thursday 25 April 2013. The event at Pallant House Gallery, in Chichester, will begin with a morning of discussion followed by lunch.

Come and visit us on stand 32