THE BUDGET AND THE NEW TAX YEAR

The March Budget did not bring in any additional immediate changes to personal finances. Once

again the Chancellor has made promises for the future, but we will focus on what the tax position

is as from 6 April 2016. We will introduce the new LISA (Lifetime Individual Savings Accounts)

closer to her arrival time in 2017!

Can You Afford To Take The Risk?

You have to insure your car and you have to insure your house, but you are not required to insure yourself or your spouse despite the possible consequences!

Life Assurance does not need to be expensive and we can generally provide a quote within an hour or less.

EXPERIENCE AND EXPERTISE COUNT!

We do seek to use our experience and expertise to maximise the help we can give our clients. Here are what a few clients have to say about their experience with us:

“My expectations were met and exceeded. The prospect of sorting out an annuity was very daunting but Sovereign Finance came to my rescue. The world of annuities and pensions were explained to me in an uncomplicated way, which made my decisions a lot easier. I genuinely don’t think anything could have been done better.”

– Mr GD of East Grinstead

“I am writing to thank you for your expert guidance. Despite the government simplifying pensions it is still a very complex area and your experience proved invaluable in progressing this matter.”

 – Mr & Mrs PB of Horley

“Such courtesy is not often found in many companies nowadays.”

 – Mr BB of Crawley.

LOOKING AHEAD – LASTING POWERS OF ATTORNEY

More and more people reaching retirement age are making long term financial arrangements, such as pension drawdowns or equity release, which will require on going attention and decisions. The fact is, whether we like it or not, that the older we get, the more likely it is that we will suffer a physical or mental disability. While people generally understand the need to have a will because they know that death is an eventual certainty, the same is not true with the problems that can come with gradually growing older. As Sovereign Finance has been around quite a while, we do have many older clients. As a company, we have decided that we should recommend to all those reaching retirement age that they consider taking out a Lasting Power of Attorney (LPA). This is a legal document that lets someone appoint one or more people (who will be called “attorneys”) to help them make decisions, or make decisions on their behalf, should they become incapable of making the decision themselves. There are two types of LPA; one for managing health and welfare issues, and one for managing property and financial affairs. It is possible for a person to arrange an LPA for themselves for a cost of only about £110 or so. But where one’s affairs are complex, we would recommend that a solicitor be used. That will be considerably more expensive, but in the long term it may prove to be money well invested.