Fit notes to replace sick notes in April 2010

The Department for Work and Pensions has confirmed that GP sick notes are to be replaced by 'fit notes' with effect from 6 April 2010.

Prosperis awarded Investors in People

We are proud to announce that we have been awarded the Investors in People standard.

January Blues

Just under half of the companies in the S&P 500 have now reported fourth quarter earnings and so far so good. Roughly 75% have beaten on the bottom line and in a sign that it is not all about taking a knife to costs, 56% have reported better than expected revenue growth

Congratulations to Rob Smith

Proving, yet again that we are ahead of the game, Rob Smith, a paraplanner here at Prosperis has recently passed both the JO6 and AF4 in one sitting.
 

Pension Myths

Pensions can seem complicated and investors are often easily confused by myths around saving for retirement. Make sure you get the most out of your pension savings by understanding how to make your investments work for you and ensuring you meet with your adviser on a regular basis.

Congratulations to Prosperis Compliance Manager Alan Wood

Congratulations to Propseris Compliance Manager Alan Wood, who has become the second member of the Prosperis team to achieve the recently introduced GriD qualification.

GRiD is an industry body which focuses specifically on the group risk market, promoting the value of group protection products by increasing awareness and understanding.

For further information about how we can assist you in putting together a cost effective employee benefit package or help you to add value to an existing package, call 0113 287 8200 or e-mail advice@prosperis.co.uk
 

State Pension Age 'must jump'

The state pension age will have to increase much more quickly than planned, as people are living significantly longer.

Friends & Family Help Raise Money For Charlie’s Trust & Sheffield Children’s’ Hospital

Martyn Horton, one of the Trustees of Charlie’s Trust helped soften the blow of reaching a ‘certain age’ by asking friends and family to join him for a night of merriment at the Sheffield United ground and raised almost £2,000 in the process – well done Martyn!!! For anyone who wants to know what that ‘certain age’ was we can reveal all for a small donation to the fund….. contact bw@prosperis.co.uk. 
 

For further information about Charlie’s Trust visit www.charliestrust.org.uk.

Excellent Mortgage Rates for Law Firm Partners

Prosperis is working with a strategic partner, who specialises in arranging mortgages for partners of large law firms. They provide advice to over 1000 partners and have often been able to save many thousands of pounds per month in mortgage payments. 

Prosperis Adds to the Record Comic Relief Figure

Comic Relief’s 2009 appeal raised more than ever before, and the team at Prosperis joined in by adding £200 to that record total. Organised by Prosperis’ Lisa Cooper, staff baked and sold cakes around the office and held a raffle. Congratulations to everyone who helped out and supported this fantastic cause!

Stick or twist?

Does Labour have the stomach to give the country two unelected Prime Ministers? Desperate times call for desperate measures.

Welcome back Louise!

Recovery Factors

Just six months ago, there was a high probability of another Great Depression. Economic indicators were in freefall and markets were in the throes of what turned out to be the second-worst bear market in a century. In the face of such a devastating collapse in economic activity, the Obama administration responded with a banking plan, the much- discussed stimulus plan and a housing plan.

Beverley set to inspire ladies in Leeds

Prosperis founder and managing director Beverley Webster will be speaking at the Leeds Chamber of Commerce Quarterly Ladies' Lunch on Thursday 12 February at Hazlewood Castle near Leeds.

University costs at your discretion?

In today’s challenging investment climate, it is vitally important that you hold your assets in the most tax efficient way. The careful choice of investment vehicle can result in increased net returns without necessarily increasing the investment risk. If you are looking to fund university costs for your children or grandchildren, an offshore bond taken out in conjunction with a discretionary trust could be particularly attractive.

Prosperis staff earn their stripes

Prosperis staff have proved once again that they’re ahead of the game, with the news that Andrew Frazer and Robert Smith have each been awarded a Diploma in Financial Planning from the Chartered Institute of Insurance. This means that they and other Prosperis advisers are already fully qualified to the level the Financial Services Authority (FSA) will set as a minimum standard in 2012.

A new incentive to save

In the UK we are now living longer and having fewer children. As a result, workplace pension schemes have come under increasing pressure as they have to cover retirees for longer with less income. At the same time, people are not saving enough for their retirement off their own back, so the government is getting worried about its own ability to cope with state payouts.

Brazil comes to Garforth

School fees too much to "bare"?

In uncertain investment times, it is vitally important that you hold your assets in the most tax efficient way possible, to make sure that taxation is not responsible for any further erosion. If you are grandparents, looking to fund your grandchildren’s school fees, an offshore bond taken out in conjunction with a bare or absolute trust could be particularly attractive.

Charity news

60% tax relief on pension contributions

People who earn more than £100,000 can potentially claim 60% tax relief on pension contributions. This is because those earning more than this amount suffer a reduction in their personal allowance (the first slice of their income, which is not subject to tax), but by making a pension contribution they can bring their effective income below the threshold.

Andrew Frazer completes Leeds 10k in record time!

Goodbye, state second pension

From next April any employees earning over £31,800 will find that the amount of State Second Pension they are building up will fall, despite the fact they are paying the same amount of National Insurance which supposedly pays for this benefit. To add insult to the injury National Insurance will then rise in the following April (2011).

Prosperis adviser on the starting blocks

Timetable for tax refund claims is changing

HM Revenue and Customs (HMRC) has issued a reminder that the dates for claiming back overpaid tax are changing. While many self-assessment taxpayers make a claim in the year in which their returns were submitted, some people can claim tax that stretches back into earlier years.

Beverley short listed for Yorkshire business award

How to protect yourself, your home and your family

Nearly 60% of us think that we’re unlikely to suffer serious illness and 75% of us think that it is unlikely we’ll face serious financial problems*.

*Axa Protection Report, October 2007

Prosperis gives help to a hero

Riding the ups and downs of the financial markets

When the financial markets are unstable, our first thoughts are to ‘batten down the hatches’ and make sure we’re not throwing good money after bad. But is continuing to save in your pension plan through these uncertain times really such a bad thing?

Prosperis spreads Brazilian magic at Leeds school

Cash does better outside ISA

For more than a decade, cash ISAs (Individual Savings Accounts) have been sold as the "no-brainer" way to put aside cash, free of tax on the interest. Over the same period, since cash ISAs were launched in 1999, we have grown to expect them to pay better rates than other taxable savings accounts, particularly on variable rates. 

Beverley set to inspire at Sheffield business event

Beverley Webster OBE, managing director of Prosperis Limited, will be giving a ‘warts and all’ account of buying and running a business at the Sheffield Chamber of Commerce Inspiring Women networking day this Thursday 6 March.

Giving employess a helping hand - free financial reviews for your staff

The current economic environment is proving a challenging time financially for many families and as a conscientious employer you can help your staff to make the most of their finances by offering them a helping hand

Prosperis hits the high notes for the Prince's Trust

Dealing with Employee Absence

Two million people are reported to suffer from an illness which they believe was caused by or made worse by their current or past work. 35 million working days are lost every year (1.5 days per worker), 28 million due to work-related ill health and seven million due to workplace injury.

Employee absences are both costly and disruptive. In any year, workplace absence typically averages 8.1 days per employee at a cost of £850 to the employer. Multiply this figure by the number of staff in your company, and take into account the disruption and lost work caused by other employees having to cover for absent colleagues, and you can see that absenteeism is a significant factor in damaging your profits.
 

Prosperis puts its money on Garforth Town AFC

Missing out on R&D Tax Credits?

It is a surprise for people in many industries that much of the work they undertake to grow their businesses can qualify for significant tax credits.

Tax credits can take the form of either significant cash back or a reduction in a company’s tax liability. These opportunities are applicable to companies that are creating new or improved products, developing new processes or duplicating existing products and processes in an appreciably improved way. They are even available for companies that write software for either internal or commercial use. Many claims are missed because companies do not appreciate the breadth of the definition of R&D for these purposes.
 

The Deep End

Prosperis staff disguised as a reincarnation of the Fab Four entered into the charity spirit at Leeds Town Hall as one of the bands taking part in the Leeds stop of the Deep End Tour.

What is the Value of Dad in 2009?

The amount of time dads spend on household chores can often be overlooked. According to a recent survey by Legal & General, did you know it would cost £448 a week to replace the work the average dad does each week on household chores and childcare! This equates to £23,296 a year and highlights that the value of work dads perform around the home shouldn’t be underestimated!

Providing cover to pay for those chores can give you peace of mind if you consider a Family Income Benefit plan, which offers the most cost effective form of family protection
 

Halliwells Cavendish Corporate Challenge

Prosperis would like to thank all those who helped raise over £150,000 for the Halliwells Cavendish Corporate Challenge.

2009 Budget Effect on High Earners

The 2009 Budget restricts tax relief on pension contributions for those earning £150,000 or more a year. According to Alistair Darling the purpose of the proposed restrictions on tax relief is to "remove an anomaly which sees a tiny proportion at the top take a large slice of the help we give people to save."

Raising money for the Cavendish Centre

'Pounded' - A Cautionary Tale

There is something strangely right about the economy. The pound is soaring, the financial ‘guru’ Paul Krugman has given the UK a vote of confidence, tents are flying off Halfords’ shelves as everyone heads to Cornwall or a music festival, Barclays has flogged BGI to the Americans for a princely sum, the commercial property industry looks set for a fascinating bout of corporate activity, Andy Murray has won Queen’s and now even Manchester United supporters can admit that they always hated Ronaldo. If we keep this up, before the summer is out we shall end up winning the Ashes, the FTSE will hit 5,000, Prince William will get married and Katie and Peter will get back together again.

Children in Need 2005

The 'Prosperis Buskers' took part in a charity concert in Leeds raising the roof with their music and £1,380 for Children in Need 2005

Fixed Rate Mortgages Set to Increase

There are a number of warnings for clients regarding the fixed rate mortgages as they will need to act quickly to secure current fixed rate deals.

Many industry observers are saying sharp rises in swap* rates are large enough to be the straw that breaks the camel’s back and as a result several lenders are set to increase the cost of at least some of their fixed rate mortgages over the next few days.

Pension Quiz

What do you know about Pensions?

Intestacy and Why You Should Make a Will

“You can’t take your money with you” is a phrase often heard, but few people die owning nothing. So why do so many people fail to put their financial affairs in order long before they plan to depart? After all and in the words of Benjamin Franklin 'In this world nothing can be said to be certain, except death and taxes.’ With this in mind, can your nearest and dearest really afford for you to put off drawing up a Will?

Budget 2009 - Impact for High Net Worth Individuals

The budget has introduced a number of changes for pensions and we have summarised these for you for information at this stage. Click here for the main issues

If you feel that your pension may be impacted by the measures introduced in the Budget, please do not hesitate to contact us on 0113 287 8200 or e-mail advice@prosperis.co.uk, to review your personal arrangements.

Do your staff know what they’re worth?

In the current economic climate, retention of your staff is vital to ensure that you have the key skills in place, but do your staff really understand what their overall salary and benefits package is worth? Click here to find out.

Would your employees benefit from a free financial review?

Prosperis is launching a new service aimed at giving employees a helping hand with their finances in what can be challenging times for some families in the current  economic environment.

We can carry out personal finance review days at employers’ premises and at no cost to them or their staff. Employees can pre-book appointments with one of our advisers to chat informally about how they can make their money work for them, whether it be about consolidating their debts, saving money on their mortgage, planning their retirement or safeguarding their family’s future.

Click here to find out more.

Is the Worst Over?

Over the last couple of weeks leading commentators have become increasingly convinced that the worst is now over for the world’s major equity markets. In the last week of March we have seen a rebound in US housing starts, new and existing home sales and durable goods orders, whilst in the Eurozone we have witnessed the fourth successive monthly rise in the expectations component of the IFO business climate survey. Importantly none of these are backward looking indicators, with each having strong track records in “predicting” where the components of aggregate demand are heading. . Click here to find out more
 

Bank of England Pension Fund

The Bank of England pension fund is managed on behalf of a very select and savvy group of people with access to a lot of market insight, the employees of the central bank. With great market timing, the fund sold out of equities entirely at the end of 2006 cutting a 21.6% holding down to 0.1%, thus avoiding a 35% drop in UK equities since that time. Awesome market timing, the fund was consequently up 12% last year when all around markets crashed. Click here to read more.

Trusting in the long term, not timing for the short term

When stockmarkets are volatile, it is tempting to seek to ‘time’ the market by selling to avoid losses and investing again when stability has returned. But stockmarket history shows us this can significantly undermine potential returns. Here, we highlight that withdrawing from the stockmarket during periods of volatility can have a dramatic effect on long-term returns. Click here to find out more.

Tax alert for overseas property owners

Owners of overseas property could be in for a two-fold tax hit due to falling sterling and property prices. Click here to find out how these changes could affect you.

Have you considered a Capital Protected Fund?

Dancing on ISA

Many investors who have been used to receiving favourable returns on their savings may be frustrated with the low interest rates currently available on most savings products.

With interest rates at an all time low, personal pensions are an attractive alternative to ISAs for those clients looking to invest for the longer term. 

The solution could be a personal pension (individual or group arrangement). By investing in a pension you could achieve a return of at least 25% through tax relief alone. A basic rate tax payer investing £1,000 in a pension would see this immediately increase to £1,250 with tax relief added at source

Group Risk - could you make major savings?

Prosperis has this month advised a potential new client that they could save a whopping £40,000 on their existing staff Group Life and Spouse’s Death in Service Scheme simply by switching their cover to another provider.

Trustee Knowledge and Understanding (TKU)

Do you know the price of everything?

Is your company in shape for 2009

The Pensions Act 2008: how does it affect you?

The Pensions Act 2008 puts into law reforms to the private pension system set out in the Government White Paper ‘Personal Accounts: a new way to save’, published in December 2006. These reforms build upon the Pensions Act 2007 and are aimed at enabling and encouraging more people to build up a private pension income to supplement the money received from their basic State Pension. The Act only applies to Great Britain but it is intended that Northern Ireland, which has its own pensions legislation, will make corresponding provision for its citizens in due course.

If you have a company pension scheme in place and would like us to review whether it complies with new legislation, please call us on 0113 287 8200 or email advice@prosperis.co.uk

Staying calm under pressure

Are you aged under 48? Is your income protection policy out of date?

VAT refund deadline looms: 31 March 2009

Barclays Capital launches guaranteed deposit accounts

Pension savers urged to move quickly to protect benefits

Pre Budget Report - bad news for pensions?

The pre-budget statement was relatively silent on pension matters, says corporate director at Prosperis Niall Gunn, but did include some important decisions, including:

Top 10 tips on writing a will

Why Make A Will

Investing in uncertain times - should I worry?

Many investors may be feeling cautious at the moment – the economic slowdown is hitting interest rates and the housing market, and the cost of borrowing is rising as banks become more cautious about lending.

However, even in these uncertain times, investment decisions still need to be made. The natural reaction might be to panic and sell your investments, but is this the best course of action?

Top 10 tips for surviving the credit crunch

Lee Naylor, resident mortgage adviser at Prosperis, offers some tips on how to save – and even make - money when times are hard.

Prosperis team is top of the class

Prosperis win prestigious Police contract

Shareholder protection - is your company at risk?

Pension planning through salary exchange

We’ve all heard of salary exchange schemes such as salary for childcare vouchers, tax-free bicycles for work and mobile phones. Prosperis Director Mark Chandler explores the benefits of planning for retirement through salary exchange.

Credit crunch bites the UK mortgage market

Is a Self Invested Personal Pension for me?

Make the most of your ISA

Prosperis makes key appointment to mortgage department

Prosperis' top ten financial new year's resolutions

Prosperis brings the world of business to the classroom

An expanding Prosperis moves to bigger premises