Gresham Wealth Management LLP News Blog

2012 North West Chartered Financial Planner of the Year Award Winner

TRAFFORD-based financial planner Morven Millar has been named Chartered Financial Planner of the North West by local institutes.

Morven, who is a partner at Gresham Wealth Management LLP in Sale, picked up the accolade at the recent North West Centenary Awards 2012, held to mark the Chartered Insurance Institute’s (CII) centenary anniversary of being granted a Royal Charter.


George Osborne's Third Budget 2012

The Chancellor of the Exchequer recently decided to focus his attention on restricting tax reliefs for higher income earners. At the core of these budgetary changes is draft legislation to reduce unlimited income tax reliefs by setting a cap of £50,000 or 25% of income, whichever is higher per tax year for individual investors.

Obviously public reaction has been negative particularly as charitable donations were previously included in the draft proposals. In an attempt to pacify voters and party donors, George Osborne reneged and has excluded charitable donations from these changes. Most of the legislative changes have been incorporated into the Financial Bill 2012 which is expected to receive Royal Assent during summer 2012.


What is the Retail Distribution Review?

The Financial Conduct Authority. (FSA) launched a review of retail investment markets in 2006 to tackle endemic problems in the Financial Services Industry. Briefly, the core aim of the review was to improve consumer confidence in investment markets and to provide better outcomes for retail clients.

In June 2007 the FSA published its first paper setting out its vision of the financial services market. During the past 4 years there have been consultations between market participants and the FSA to determine the broader impacts of this new regulation and allow time for the financial services industry to adjust to the new world we are entering post RDR.


I am getting divorced. Is my spouse entitled to claim money from the compensation I was awarded for my personal injury?

On 27th July 2011 the Court of Appeal gave Judgment in the case of Mansfield v Mansfield [2011] EWCA Civ 1056 and as a result it is now possible to answer the above question as follows:

"Yes, your spouse is entitled to claim part of your compensation but his/her chances of being successful will depend upon all the circumstances of your case."


Proud to be Chartered Financial Planners

Gresham Wealth Management LLP have recently been awarded the prestigious Chartered Financial Planners designation by the Chartered Insurance Institute (CII).

This is the industry’s gold standard for firms of financial planners. It confirms that we have satisfied rigorous qualification criteria by retaining highly-qualified staff who subscribe to the membership conditions of the CII.

Find out more...

Act now, while 'stocks' last.....!

As the Christmas and New Year festivities fade into memory it may now be time to re-focus your attentions on your financial affairs.  We are now less than three months away from the end of the financial year and a valuable allowance may still be unused.

Our previous newsletter covered the uses, practicalities and tax advantages of an ISA and now may be the time to explore this in more detail before the current allowance of £10,200 per individual is lost.

The information detailed explains the major issues investors face when investing in an ISA and the considerations that have to be made to maximise the potential of the ISA investment.


Compulsory Pensions and Nest

The coalition government is to press ahead with a Labour scheme to force all UK firms, regardless of size, to automatically enrol their staff into a pension scheme from 2012.  Companies will have to pay in a minimum of 1% of every worker’s salary into a pension, rising to 3% by 2017. Workers will have to pay in a portion of their salary, phased in over five years, starting at 1% of pay and rising to 4% by 2017.


Pension Changes – Annual and Lifetime Allowances

The Treasury has announced that the annual pensions allowance will be lowered to £50,000 from April 2011 from its current level of £255,000. The lifetime allowance is to also be reduced from £1.8 million to £1.5 million.

The Treasury estimated that the cut would hit 100,000 individuals of which 80% earn more than £80,000 per annum. The Treasury noted it was able to offer a higher annual allowance than the £30,000 or £45,000 proposed during the consultation period by also cutting the lifetime allowance*.


Tax and Benefits Reform: Child Benefit

The coalition Government has a real problem to overcome if it is to reform the tax and benefits system. The tax system is based on individuals being taxed separately, while the benefits system is based on families...


Tax doesn’t have to be taxing ... but it is!

The recent errors with HMRC’s computer system have brought to light the scale of tax individuals are paying (or not as the case may be). With the coalition Government’s changes to the taxation rules the amount of tax people are paying, be it through income tax, capital gains tax, national insurance, VAT or inheritance tax, is only going to increase.

There are many structures available to assist with tax planning, some of which can be very complex and ultimately carry a high degree of investment risk. One area that is often overlooked, and not fully understood, is the uses and practicalities of an ISA.




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Personal Injury Trusts
Personal Injury Trusts

Whilst most people know that they can claim for personal injury damages, few know that the award can be settled to a personal injury trust which will protect their benefit position after receipt of the award. 

Without a personal injury trust in place, you can lose entitlement to present and future means-tested state benefits, including local authority contributions to the cost of long-term care.  We offer simple, jargon free advice to check if a personal injury trust is required on receipt of a claim, generally at no cost to you.

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