Hamnett Wealth Launch YouTube Channel

We are pleased to launch our own YouTube channel where we will be hosting lots of useful content for you to watch.

To start with we have a series of videos that Jonathan made, in conjunction with 7IM, about the retirement funding gap and how Hamnett Wealth Management are responding to it.

You can watch the videos here: https://www.youtube.com/channel/UCyibD8x7iaPlzGevFfLt64g

If you have any suggestions for future videos that you’d like see, please let us know by emailing advice@hamnettwealth.com

Colourful day out…and lots of money raised!

We had a fantastic time taking part in the Colour Obstacle Rush on Saturday 30th June at Rother Valley Country Park.  It was hard work in the hot weather but great fun and the total raised was in excess of £1100 with Hamnett Wealth donating £100.

We were raising money for St Luke’s Hospice as they cared for a much loved mum, friend and family member, Julie Ward.  You are still able to make a donation via our Just Giving page and we would be very grateful: https://www.justgiving.com/fundraising/ryan-hopkinson1

Hamnett Team Rush to Raise Money!

The team at Hamnett Wealth Management, as well as friends and family members, will be taking part in the Color Obstacle Rush on Saturday 30th June at Rother Valley Country Park.

We’ll be raising money for St Luke’s Hospice as they cared for a much loved mum, friend and family member, Julie Ward.  If you are able to make a donation we would be very grateful.  We have set up a Just Giving page: https://www.justgiving.com/fundraising/ryan-hopkinson1

St Luke’s is dedicated to the wellbeing of the terminally ill in Sheffield and their loved ones. Their skilled, dedicated staff care for 1,800 adult patients a year – of all ages, from all walks of life throughout the city – all free of charge. They need to raise £6.4million each year to keep going.  Find out more about the wonderful work they do: https://www.stlukeshospice.org.uk

The Color Obstacle Rush is a unique event combining the fun of colour powdered runs, the thrill of an obstacle course and the atmosphere of a music festival.  You can find out more here: https://www.colorobstaclerush.co.uk/cor-sheffield-2018.html

There’ll be lots of photos on the blog next week.  Thanks for your support.

A new addition to the Hamnett family!

We are delighted to welcome a new member to the Hamnett Wealth family!  Alex, who works in our office as an Administrator, recently gave birth to a beautiful baby girl, Emilia, weighing in at 7lbs 4oz and with a full head of dark hair.  Congratulations to Alex and her husband Nat – we look forward to welcoming baby Emilia into the Hamnett office very soon!

Jonathan Attends Graduation Ceremony

Jonathan Rowley, Director, recently attended his Graduation Ceremony at the Chartered Insurance Institute in London after achieving Chartered status as a Financial Planner.

The Personal Finance Society qualifications are recognised throughout the world as evidence of commitment, knowledge and understanding. They underpin professional integrity and support the delivery of service to the customer. Chartered status is an exclusive title only awarded to individuals who meet rigorous criteria relating to professionalism and capability.

During the service, Jonathan recited the Graduation Oath: “I accept this qualification and Personal Finance Society designation subject at all times to the charter, bye laws rules and  regulations of the Personal Finance Society &  the Chartered Insurance Institute. I will endeavour at all times to live by the  highest standards of professional conduct. I will strive to ascertain and understand  the needs of my clients and to always place  their interests above my own. And I will maintain and uphold the society’s Code of Ethics, and display a standard of honour and integrity that will be a credit to my profession  and to the Personal Finance Society.”

The ceremony was held in the historic and impressive Great Hall of the Worshipful Company of Insurers which is also the home of the CII and the PFS. Both the Insurance Hall and the site it stands on are steeped in history. Amongst many historical associations Aldermanbury was the birthplace of the Guildhall and the meeting place of the City Fathers from the 12th to the 15th Centuries. In fact the first folio of William Shakespeare’s works was published by his friends within two of its houses. You can find out more about the history of the venue here: http://www.thepfs.org/media/5353598/pfs_graduation_day_printable_version_3_for_front_desk.pdf

Marriage Allowance

As we all look forward to the Royal Wedding this weekend, it’s a fitting time to mention the Marriage Allowance.  This Allowance lets you transfer £1,190 of your Personal Allowance to your husband, wife or civil partner – if they earn more than you. You can get Marriage Allowance if all of the following apply:

  • you’re married or in a civil partnership
  • you don’t earn anything or your income is £11,850 or less
  • your partner’s income is between £11,851 and £46,350 (or £43,430 if you’re in Scotland)

If you or your partner were born before 6 April 1935, you might benefit more as a couple by applying for Married Couple’s Allowance instead.  You can find out more and check your eligibility at https://www.gov.uk/marriage-allowance

For more advice about tax allowances and tax-planning, please call us on 0114 235 3500.

Sheffield Children’s Hospital on the move

Well done to everyone at Sheffield Children’s Hospital who have moved patients into the newly opened wards this week. The new wing has been purposely built for children and has a play tower full of toys to keep children of all ages entertained.

We have been proud supporters of the Children’s Hospital Charity for a number of years and Jonathan Rowley, our Director, was lucky enough to have a recent tour of the new facilities at the hospital.  As well as appointing them as our charity of the year, we are also involved in the Dan Walker Golf day that takes place annually at Hallamshire Golf Club.  BBC Breakfast and Football Focus presenter Dan has now raised a staggering £182,000 since his first golf day in 2014 for the charity of which he is a patron.

Please take a look at the amazing work that this charity does.  You can visit their website at www.tchc.org.uk.

Westside Article – May 2018

Spring Clean Your Finances 

Entering the new tax year is a great time to spring clean your finances. Here’s Hamnett Wealth Management’s suggested checklist:

  1. Maximise your tax-free saving allowances

If you’ve money to save, but haven’t used up your ISA allowance, make sure you take advantage of this tax-free form of investment.  Equally, ensure you’re making the most of allowances on your pension contributions to cut your tax bill.

  1. Take control of your pension arrangements

Whether you’re looking to set up a pension, save money on annual management charges or to reduce fees on expensive pension plans, review your current pension arrangements to see if they’re likely to help you achieve your retirement goals.

  1. Review your investments

Investment values have risen well in the last 12 months but volatility has been high. With fast changing political events affecting markets, it‘s imperative that your portfolio and pensions are strategically invested to profit from uncertainty and protect yourself from market shocks.

  1. Plan for the future

Safeguard against unexpected future events spoiling your final wishes by setting up a trust alongside your will.  Trusts come in a variety of forms and can help lower potential inheritance tax bills as well as give extra guarantees  that loved ones will be looked after.

Appoint a lasting power of attorney so loved ones can act in accordance with your best interests and wishes as they are now.  There are two different lasting powers of attorney to consider – one to look after your health and the other your finances.

  1. Question your current Advisor

Do you know what they’re charging you in fees?  Recent press reports have highlighted cases of people moving their portfolios and pensions from a certain provider because they have been subjected to high fees, poor service and a lack of transparency.

Hamnett Wealth Management are Chartered Independent Financial Advisers who offer unbiased, expert financial planning advice and a working towards becoming a dementia friendly business.

Jonathan Rowley, Director and Chartered Financial Planner, is also an associate member of SOLLA. SOLLA helps people and their families in finding trusted accredited financial advisers who understand financial needs in later life.

We offer a free initial face-to-face consultation where we’ll assess your needs and explain how we can help. You’re always welcome to call into our office on Baslow Road, Totley or we can visit you in the comfort of your own home.  Call us now on: 0114 235 3500 or email us at: advice@hamnettwealth.com

Big Changes Ahead

We’re now in the new tax year with a bigger than usual set of changes.  Here’s our list of the main headlines:

Income Tax:

  • £11,850 is the starting point for paying 20% basic tax rate (up from £11,500)
  • 40% tax will start on earnings above £46,350 (up from £45,000)
  • Above the £150k upper rate, you will pay 45%.

Dividend Taxes:

  • Everyone now receives a £2,000 allowance, down from £5,000.
  • Once past the allowance, basic rate taxpayers will pay 7.5% tax, higher rate taxpayers will pay 32.5% and additional rate taxpayers will pay 38.1% tax.
  • These changes don’t affect any shares you hold in an Isa or a pension.

Capital Gains Taxes:

  • Lower rate taxpayers pay 10% tax; higher and additional rate taxpayers pay 20%
  • If you’re selling a second property, including buy-to-let investments, then you are the exception and there will be charge of 18% for basic rate taxpayers or 28% for higher and additional rate taxpayers.

Pensions:

  • There are no major changes to pension allowance.
  • The lifetime pensions allowance has been increased by £30,000 and now stands at £1,030,000.

Isas:

  • If you have a Help to Buy Isa you can save up to £3,400 in the first year and then £2,400 each year after
  • If you have a Lifetime Isa you can save £4,000 a year and this can be used towards the cost of buying a first home or for retirement.

Now is a great time to review your financial plans and make sure they are working for you.  Please get in touch with to arrange a free review meeting.  Call 0114 235 3500.

Our Commitment to Care

Jonathan is now an associate member of SOLLA.  SOLLA helps people and their families in finding trusted accredited financial advisers who understand financial needs in later life.

The complexities of the many decisions you or your family may need to face when looking at issues such as care funding matters or whether equity release is the right thing for you, need careful and considered advice. Financial advice should help you make clear and informed decisions knowing that you have had the information and choices presented to you in a way that helps you make the best choices and decisions for you or for a family member.

As an associate member of SOLLA, Jonathan has committed to undertaking the accreditation and has up to a two year period to become fully accredited.

For more information on SOLLA, please visit their website: www.societyoflaterlifeadvisers.co.uk

Hamnett Wealth Management are also working towards becoming a dementia friendly business.  The team have all completed online training that covered three key areas – people, processes and places.

For more information on Dementia Friendly Businesses, please visit their website at: https://www.alzheimers.org.uk/info/20116/making_organisations_more_dementia-friendly