Please select your country

Acceptance

You acknowledge and agree that access to this Site is provided only in accordance with these Terms & Conditions.

By accessing this website (the ‘Site’), you agree to be bound by the following terms and conditions (the ‘Terms’). Before using this Site, you should read carefully the Terms, our Cookie Policy and also our Privacy & Security Statement. If you do not agree to these Terms & Conditions, please do not make use of this Site.

The Site has been approved for issue in the UK by Harrison Rowe Financial Planning Limited trading as Harrison Rowe Private Wealth. Harrison Rowe Financial Planning is authorised and regulated by the Financial Conduct Authority (“FCA”), and is entered on the Financial Services Register with the firm reference number 208467.

Harrison Rowe Financial Planning is part of a global group of businesses known asThe Harrison Rowe Group. Harrison Rowe Financial Planning Limited is registered in England and is established at 56, Wentworth Road, Blacker Hill, Barnsley, United Kingdom, S74 0RP, which is its registered office.

Unless otherwise stated in relevant sections of the website, this website is targeted at investors who are generally classified as qualified, professional, accredited or institutional. The information contained in this website is directed only at persons in a country or jurisdiction where access to the information and the use thereof is not contrary to local law or regulation. It is your responsibility to be aware of and to observe all applicable laws and regulations of any relevant jurisdiction when accessing the information contained in this website. In particular, no offer or invitation is made to any US persons (being residents of the United States of America or partnerships or corporations organised under the laws of the United States of America or any state, territory or possession thereof), who are excluded from the services, funds and products included in this site. There will be no public offering of services, funds and products in the United States.

The services, funds and products will not generally be available to U.S. Persons.

Should you wish to contact us please refer to the Contact Us link which can be found on each page of the Site.

In these Terms

  • ‘Content’ means all pages, screens, information and materials included in or accessible through this Site (including any content available on any email or SMS services).
  • ‘you’, ‘your’ and ‘yours’ means you, the person(s) accessing this Site and the party on whose behalf you are doing so.
  • ‘we’, ‘us’ and ‘our’ means HR Capital Partners Limited.
  • ‘HR / HR Group’ means HR Investments Limited, its subsidiaries and associated companies from time to time.

Terms

These Terms cover your use of this Site. All products and services provided by members of the Harrison Rowe Group have their own terms and conditions (the ‘Product Terms’). You must read both the Product Terms and these Terms. To the extent that the Product Terms conflict with these Terms or any Local Sites’ terms and conditions then the Product Terms will prevail.

We are required by law to tell you that the terms and conditions are in English and that we will communicate with you in English.

From this Site we may provide information or hyperlinks to other websites or pages provided by other entities within the Harrison Rowe Group (‘Local Sites’) and other parties. Your use of Local Sites and other parties’ sites may be subject to their own terms and conditions. You should read them.

This Site is intended for those who access it from within the United Kingdom. Because of this we cannot guarantee that the Site, or the information thereon, complies with the local laws or regulations of, or is appropriate for use in, any other jurisdiction from which you access it. If you choose to access this Site from a jurisdiction other than the United Kingdom you do so at your own risk and the Harrison Rowe Group will not be liable for any breach of local law or regulation that you commit as a result of doing so.

Please make sure you read carefully all applicable terms, conditions and disclaimers relevant to your use of the products, services or information that may be offered to you from time to time.

If any part of these Terms is found by any court or other competent authority to be invalid, unlawful or unenforceable then such part shall be severed from the rest of the Terms which shall continue to be valid and enforceable to the fullest extent permitted by law.

Changes to our Terms

You acknowledge that we may amend these Terms from time to time, at our sole discretion. If we elect to amend these Terms, the revised version will be posted on the Site. You undertake to check the Site regularly for any changes we may have made since your last visit to the Site, since any such changes will be binding on you. By using the Site after we have changed or amended these Terms, you acknowledge that you will be accepting those changes or amendments.

These Terms & Conditions were last updated on 6th February 2019.

Availability of site, products and services

The Content, including layout, of this Site or products or services available via this Site may be wholly or partially suspended, withdrawn or changed at any time.

We also reserve the right at any time to immediately suspend the provision of all or any part of this Site to you and/or block your access to this Site.

The provision of financial services or products

Not all the products and services that you may be able to view via the Site are available in all geographical locations. The relevant Harrison Rowe Group member reserves the right to make the final determination on whether or not you are eligible for any particular product or service.

If you choose to enter a website outside your country of residence, you are advised that it may not be legal in that jurisdiction for you to access or use the facilities available on that site and the legal requirements of that jurisdiction may prohibit you from dealing or otherwise transacting in that jurisdiction. No member of the Harrison Rowe Group will be liable for any breach of local law or regulation that you may commit as a result of using and accessing a website in a country in which you are not resident.

Please be aware that some of the products and services listed within the Site and those provided by any other Harrison Rowe Group members or third parties that may be accessed via a link from this Site may not be suitable for all investors. Always read the product information fully before committing to any contractual agreement.

All products or services provided to you by us or any other Harrison Rowe Group member shall only be available in the jurisdiction/s within which the member providing the product or service is authorised to operate.

You agree that any of the products or services provided to you by us or any other HR Group member shall be deemed to be provided in the jurisdiction within which the member providing the product or service is authorised to operate.

No offer

Information or opinions contained on this Site or in any Local Sites do not constitute an offer to sell or a solicitation, or offer to buy, any securities or financial instruments or investment advice or any advice or recommendation in respect of such securities or other financial instruments.

Should you seek to rely in any way whatsoever upon any Content contained on this Site, you do so at your own risk.

Before you make any decision or take any action that might affect you or your personal finances or business, you should always consult a suitably qualified professional adviser(s) to obtain appropriate financial, legal, accounting, tax and other advice.

No warranties

Other than the warranties and representations contained in these Terms, all other warranties and representations, whether express, implied or statutory are, to the fullest extent permitted by the law, excluded. We do not exclude or restrict our liabilities or duties to you where or to the extent that this is prohibited by law or regulation. Use of this Site is at your sole risk.

We do not represent that:

  • any information contained on this Site will be accurate, complete or up to date or meet your specific requirements,
  • this Site will be available,
  • access to this Site will be uninterrupted or that there will be no delays, failures, errors or omissions or loss of information as this Site is transmitted to you,
  • no viruses or other contaminating or destructive materials or elements will be transmitted or that your computer system will not be damaged.

We do not provide any guarantee about the accuracy, functionality or performance of any third party software, Content or equipment used in connection with this Site.

Exclusion of our liability

To the extent permitted by law, neither we nor any member of the Harrison Rowe Group shall be liable for any damage, loss or liability (whether arising in contract, tort, including negligence, or otherwise) arising out of or in connection with:

  • your use of this Site,
  • your reliance on or your inability to use the information, products or services on this Site, or
  • Any failure or performance, error, omission, interruption, defect, delay in operation or transmission, computer virus or line or system failure to this Site or your use or attempted use of it.

The above exclusions apply to any damage which is direct, indirect, special, incidental or consequential or consists of loss of profits, business, opportunity or data.

All of the above exclusions apply even if you have advised us or any other member of the Harrison Rowe Group of the possibility of the above types of damage, loss or liability.

Password and security

In order to use the Site or one or more parts of it, you may be required to become a registered user. In order to become a registered user we will issue you with one or more of the following, namely, registered username, password other security identifier (‘Password’) in accordance with our procedures in place from time to time.

You will keep your Password secret and confidential at all times. Your Password will allow you to access your personal and confidential account and/or financial information.

You must tell us immediately of any unauthorised access to the Site using your Password or any unauthorised transaction or instruction which you know of or suspect of if you suspect someone else knows your Password. We will need you to help us and any law enforcement agency in trying to recover any losses. We may disclose information about you or your account to a law enforcement agency or other third parties if we think it will help prevent or recover losses.

You are wholly responsible for use of the Site by any person using your Password.

We reserve the right to suspend access to the Site in the event that we suspect that an unauthorised person is attempting to access the Site using your Password.

Your obligations

Security – it is your sole responsibility adequately to:

  • protect and back up your data and equipment,
  • undertake reasonable and appropriate precautions against any computer virus or other destructive materials or elements, and
  • ensure that your computers and your access to this Site are adequately secured against any unauthorised users.

Your use of this Site – you may not use this Site or permit others to use this Site:

  • in any way (including via electronic means) and for any purpose which is unlawful, defamatory or libelous, offensive, abusive, indecent, menacing or threatening or in any way that infringes any intellectual property rights or breaches any obligations of confidence, or
  • to cause annoyance, inconvenience or needless anxiety to any other person or in any other way which is in violation of any applicable law or regulation in any jurisdiction in the world, or
  • to introduce a virus or other disruptive material or element or otherwise disrupt or impair this Site or any communication service.

You undertake to comply with any terms notified to you as required from time to time by any third party supplier of data or services to this Site, including but not limited to, where necessary, entering into a direct agreement with such third party in respect of your use of their data.

Third party site and endorsement

  • Links to Third Party Sites – where we provide hypertext links to other locations on the Internet, we do so for information purposes only. We are not responsible for the content of any websites or pages of third parties linked to or from this Site. Following links to any websites or pages of third parties shall be at your own risk. We shall not be responsible or liable for any damages or in any other way in connection with such linking of those websites or pages.
  • Downloads from Third Party Sites – links to third party downloadable software sites are for convenience only and we are not responsible nor are we liable for any difficulties or consequences associated with downloading that software. You are responsible for obtaining all necessary authorisations to use such software and we give no implied licence or warranty in relation to the obtaining of or use of such software whatsoever.
  • No Endorsement of Third Parties – no endorsement, approval or responsibility for appropriateness of any third parties or their advice, opinions, information, products or services is expressed or implied by any hyperlinks to or from any third party websites or pages.

Links to our site

Neither you nor any other party may use any part of this Site on any other website, or link any other website to this Site, without our prior written permission.

We are not responsible for the set-up of any link from a third party website to our Site.

Neither you nor any other party may deep link to, frame, spider, harvest or scrape the Content or otherwise access the Content for any purposes, or use any machine, electronic, web based or similar device to read or extract the Content by machine based or automated means, without our prior written permission.

Intellectual property rights

  • Our Rights – all intellectual property rights (including, without limitation, copyright, database rights, design rights, patents and trademarks) in the Content are owned by or licensed to us unless otherwise stated.
  • HR – HR and the HR logo are trademarks of HR Investments Limited and all rights and benefits in them vest in HR Investments Limited.
  • Copying by you and your access to the Site – you may print, copy, download or temporarily store extracts from this Site for your personal use or to help you use our products and services. You must not alter any extract contained on or obtained from this Site in any form. Any other use is prohibited unless you first get our written permission. Without limiting the above, unless you first get our written consent, you may not reproduce, modify, adapt, transmit, publish, broadcast, create derivative works of, store, archive or in any way exploit any of the Content. Without limitation, neither you nor any other party may do any of the following without prior written consent from us:
    • create any data base in electronic or structured manual form by systematically downloading and storing all or any of the Content; or
    • redistribute any of the Content (including by using it as part of any syndication, content aggregation, archive or similar service); or
    • remove the copyright or trademark notice from any copies of Content made in accordance with these Terms.

Internet and e-mail communications

Messages sent over the Internet (including e-mail) cannot be guaranteed to be completely secure as they are subject to possible interception, monitoring, delay, loss or alteration.

Neither we nor any other member of the Harrison Rowe Group are responsible for any such messages nor liable to you or anyone else for any damages or otherwise in connection with any messages sent by you to us or any other party or any messages sent or appearing to be sent by us or any third party to you over the Internet (including e-mail). You should not include any sensitive or confidential information in such messages.

Our monitoring of communication

To help us improve our service and in the interest of security, we may monitor and/or record communications (whether over the Internet, telephone or otherwise) between you and us. All recordings are our sole property.

Data protection and Privacy

Cookies

Governing Law

These Terms are governed by and are to be interpreted in accordance with the laws of UK.

The courts in England and Wales will have non-exclusive jurisdiction in respect of any dispute which may arise in connection with the Terms or your use of this Site.

Your Autumn 2018 Budget Summary

 

Monday 29 October saw Philip Hammond’s third Budget and his last before we find out what’s in store with the final deal on Brexit. The Chancellor also left the door open for a Spring Budget in case the Brexit outcome is a ‘no deal’.
We already knew his top two headlines:

  • An end of austerity, and
  • Increased funding for the NHS

So the highlights of the day turned out to be funding to fix potholes and the increase of the personal allowance and higher rate tax bracket being brought forward to April 2019.

Here are some of the other things our experts have pulled out which might be of interest to you.

 

Income tax

Personal allowance

The Income Tax personal allowance will be increased to £12,500 on 6 April 2019 for the 2019-2020 tax year. That’s a year earlier than originally planned. The allowance will remain the same for 2020/21 and then increase in line with Consumer Price Index (CPI) changes.

For higher rate taxpayers, the threshold above which higher earners start paying 40% tax is being increased to £50,000 in 2019-20, again a year earlier than planned. The threshold will remain the same for 2020/21.

 

Individual Savings Account

The ISA annual subscription limit for 2019/20 will remain unchanged at £20,000. The annual subscription limit for Junior ISAs and Child Trust Funds for 2019/20 will be increased in line with CPI to £4,368. The Government will publish a consultation in 2019 on draft regulations for making a Child Trust Fund account.

 

Stamp Duty Land Tax

First time buyers

Stamp Duty Land Tax (SDLT) first-time buyers relief will be extended in England and Northern Ireland to apply to all first-time buyers purchasing residential property worth up to £500,000 through a qualifying shared ownership scheme. The relief will also apply to shared ownership property buyers who have already paid SDLT on the initial equity stake and rental amount since the introduction of the relief on 22 November 2017.

They will have a year to make a backdated claim for the relief. This measure will be effective from 29 October 2018.

Non-residents

A consultation will be issued in January 2019, on an SDLT surcharge of 1% for non-residents buying residential property in England and Northern Ireland.

 

Capital Gains Tax

Private Residence Relief: Lettings relief

Currently, the relief can be claimed by individuals who let out a property that is, or has in the past been, their main residence. From April 2020, the government will reform lettings relief so that it is only available to individuals in shared occupancy with a tenant.

Private Residence Relief: Final period exemption

Currently, the exemption means that people do not have to pay CGT on gains made in the final 18 months of ownership. From April 2020, the exemption will be reduced to 9 months. There will be no changes to the 36 months final period exemption available to disabled people or those in a care home.

Entrepreneurs’ Relief

To claim Entrepreneurs’ Relief the minimum period over which the relevant qualifying conditions must be met is being extended from 12 months to 24 months for disposals from 6 April 2019. It is expected that 95% of claimants will be unaffected by this change.

Taxing gains made by non-residents on UK immovable property

Taxation of gains accruing to non-UK residents has been extended to include gains on disposals of interests in non-residential UK property. The measure also taxes non-UK residents’ gains on interests in UK property rich entities (for example, selling shares in a company that derives 75% or more of its value from UK land). All non-UK resident persons, whether liable to Capital Gains Tax or Corporation Tax, will be taxable on gains on disposals of interests in any type of UK land for disposal on or after 6 April 2019.

 

Inheritance Tax

We are still waiting for the outcome of the recent inheritance tax review which is expected to be in two parts. 

Residence Nil Rate Band (RNRB)

There are some minor technical amendments to the Residence Nil Rate Band (RNRB) relating to downsizing provisions and the definition of ‘inherited’ for RNRB purposes. The amendments will apply for deaths after 29 October 2018.

Inheritance tax – trusts settlement definition

The government will introduce legislation in the Finance Bill 2019-20 to reflect HMRC’s position in relation to the Inheritance Tax (IHT) treatment of additions to existing trusts.

The legislation will confirm that additions of assets by UK-domiciled (or deemed domiciled) individuals to trusts made when they were non-domiciled are not excluded property.

The detail will be reviewed once the legislation is issued. However, there isn’t enough detail to determine the impact at this time.

Inheritance tax rates and exemptions

The Nil Rate Band will remain frozen until 2021/2022. The Residence Nil Rate Band will rise to £150,000 from April 2019.

 

General Tax

Tax payment to HMRC highest priority in liquidation

From 6 April 2020, when a business enters insolvency, more of the taxes paid by its employees and customers, and temporarily held in trust by the business, will go to fund public services rather than being distributed to other creditors.

Simplifying Trust Taxation Consultation

This Budget confirmed there will be a consultation on the taxation of trusts to make their taxation simple, fairer and more transparent which will be published in 2018.

 

Pension Changes

Standard lifetime allowance

The standard lifetime allowance for pensions will increase in line with the rise in the consumer prices index (CPI) for 2019/20 to £1,055,000.

Banning pensions cold calling and other scams

As soon as possible, the government will ban pensions cold calling or unsolicited direct marketing calls in relation to pensions products/services. They will prohibit cold calling in relation to pensions unless the caller is authorised by the Financial Conduct Authority (FCA), or a trustee/manager of an occupational or personal pension scheme.

The ban covers direct marketing in relation to pensions and is not limited to calls in relation to pension transfers.

Use of email and text messaging for direct marketing purposes is already restricted.

The ban will be enforced by the Information Commissioner’s Office (ICO) and they will publish industry guidance later this year.

An awareness campaign will be launched by the government shortly before the ban is implemented. The message will be that all pensions cold calling is illegal and that people should put the phone down if they believe they are receiving a cold call.

The Government is committed to introducing legislation to limit the statutory right to a pension transfer. This is a measure aimed at preventing pension savings from being transferred to fraudulent pension schemes, and to help protect members at the crucial point where a scammer has persuaded them to transfer. The Government may seek views on draft regulations for this measure.

Pension Dashboards

The Government is supporting the launch of Pension Dashboards; innovative tools that will allow an individual to see their pension pots, including their State Pension, in one place.

The Department for Work and Pensions (DWP) will consult later this year on the detailed design for industry-led Pension Dashboards.

The Budget announced extra one-off funding of £5m in 2019/20.

Boosting pensions for the self-employed

This winter, following the 2017 review of automatic enrolment, the DWP will publish a paper setting out the Government’s approach to increasing pension participation and savings persistency among the self-employed. It will focus on expanding evidence through a programme of targeted interventions and partnerships.

Public service pensions

Following reforms to public service pensions in 2015, further changes are likely from 2019/20 to make pension benefits more generous for public servants, including teachers, police, armed forces and NHS staff. 

The Budget confirms a reduction of the discount rate for calculating employer contributions in unfunded public service pension schemes. The valuations indicate that there will be additional costs to employers in providing public service pensions over the long term.

The Government is trying to ensure that these costs do not jeopardise the delivery of frontline public services or put undue pressure on public employers, particularly for the National Health Service (NHS) and state schools.

The Spending Review next year will settle the funding for costs beyond 2019/20 arising from the valuations.

Pension fund investment in patient capital

The Autumn Budget in 2017 announced a plan to unlock £20 billion of finance for innovative high-growth firms, and established a taskforce to address the barriers to pensions investment in companies once they have gone through the initial set-up phase.

The Budget announces that the Government will support pension funds to invest in growing UK businesses with several of the largest defined contribution pension providers in the UK having committed to explore options for pooled investment in patient capital.

For the retail market, the FCA will consult by the end of 2018 on updating the permitted links framework to allow unit-linked pension funds to invest in an appropriate range of patient capital assets.

 

QROPS

No QROPS changes were announced in the budget.

 

It is based on Harrison Rowe Private Wealth’s interpretation of the relevant law and is correct at the date shown on the title page. While we believe this interpretation to be correct, we cannot guarantee it. Harrison Rowe Private Wealth cannot accept any responsibility for any action taken or refrained from being taken as a result of the information contained in this article. The information provided in this article is not intended to offer advice.