Latest News

Time in rather than Timing
“Investment results largely depend on how one behaves near the top and near the bottom” John Maynard Keynes We are all familiar with the sense from the trading floors of the world financial hubs, as traders stand with a phone on each ear, shouting with Hollywood ‘sell high and buy low’ ...

A Falling GAD Rate
“By providing financial protection against the major 18th and 19th century risk of dying too soon, life insurance became the biggest financial industry of that century. Providing financial protection against the new risk of not dying soon enough may well become the next century’s major and most profitable financial ...

ISAs versus Pensions
The avoidance of taxes is the only intellectual pursuit that still carries any reward. John Maynard Keynes Pensions have long been seen as the main route to generating an income in retirement, but their inflexibility and complexity can be frustrating. One of the most important problems with pensions is that ...

Long term care
Long-term care: a solution in sight?  For the past decade the system of provision of long-term care in England has been broken. The Dilnott Commission, which reported in July, said the system is “not fit for purpose; confusing, unfair and unreasonable”. Oxford economist Andrew Dilnott gained ...

Beat IHT with pension
Use your pension fund to reduce inheritance tax   Among the last Budget’s changes to the rules on pensions was a significant change in the way inheritance tax applies to capital remaining in a pension fund on death. This means some people may be able to rearrange their assets and reduce their liability ...

Junior ISA
Bigger savings limit for Junior ISAs   The Child Trust Fund had an annual contribution limit of £1,200, but its replacement, the Junior ISA, will have a limit of £3,000 when it launches in November. That is to compensate for the fact that there is no government contribution to the Junior ISA. ...

Avoid tax traps
Tax traps for the unwary   Mr Osborne would like to make tax simpler, but has made only a modest start on the UK’s bloated tax code – the longest in the developed world, not a record any Chancellor should be proud of. It was, of course, Gordon Brown who was primarily responsible, having added ...

Budget 2011
Slowly getting simpler  George Osborne talks like a reforming and simplifying Chancellor. But he doesn't always act the part. So his March 23 Budget is a mixed bag – though at least it does not contain any new tax hikes.  The simplifying George raised the personal allowance for 2011-12 from £6,475 ...

Changes in retirement planning
Retirement planning – a new era Last November, the government set out the new rules for pensions starting from this year. These and other changes already announced create a new era for retirement planning, giving people far more control over their pension plans and making them a more attractive proposition for ...

Fraudsters use our name
 Fraudsters are NOT us Fraudsters are using Churchill Investments' name when telephoning people to solicit investments. These people are not assocated with Churchill Investments plc in any way. We NEVER cold call people. We NEVER solicit investment on the phone. We NEVER advise on investing ...

Estate planning
Estate planning is back on the agenda The Conservatives made the running at one stage in the election campaign with a promise to raise the inheritance tax threshold to £1 million. That was only one of many promises that were ditched by the coalition government when crisis management of the government’s ...

Savings success
The astounding success of regular savings You have probably read one or more articles in the national Press bemoaning the poor performance of the stock market over the past decade.  Usually, such articles are based on returns over one point-to-point period, which is like basing your analysis of a marathon ...

Pension relief
Pension relief   Following a short consultation the Treasury has announced that the annual limit for contributions to pension schemes with tax relief will be £50,000 from April 2011. This is a substantial reduction from the current level of £255,000, but it replaces complex rules put forward by ...

New CGT rules
Gains tax - not as simple as it looks The Emergency Budget’s reform of capital gains tax is the coalition government’s last word on the subject for this parliament: Chancellor George Osborne confirmed this on July 15th at a meeting with the Treasury Select Committee.  While the Budget headlines ...

Better pension rules
Better pension rules The Emergency Budget contained proposals for important changes in the pension rules which will affect millions of people. The government will legislate to abolish the requirement to purchase an annuity with a pension fund at age 75, with effect from April 2011. This year’s Finance ...

New hybrid gains tax
Hybrid gains tax The proposals for changes to Capital Gains Tax in the Emergency Budget create a hybrid of the current system and its predecessor. For basic rate taxpayers, the tax rate on gains above the annual allowance will  remain at 18%. For higher rate taxpayers, ...

Not as bad
Not as bad The coalition government’s Emergency Budget raised the bulk of revenue required from higher taxes from a 2.5% rise in VAT to 20% from January 2011. That, and a rise in the rate of Capital Gains Tax paid by higher rate taxpayers from 18% to 28% from midnight on 22 June were the main measures ...

Ongoing euro crisis
Euro crisis rumbles on Hopes that the £650 billion stabilisation package announced two weeks ago would end the euro crisis have been dashed, as European political leaders clearly fail to grasp the scale of the problem or the necessary solutions.  The key issue is not Greece ...

FSA's warning
FSA’s fraud warning The Financial Services Authority has issued an Alert warning investors not to deal with an unauthorised firm calling itself Churchill Investments plc.  This firm has no connection whatsoever with us. We have had reports from people who have suffered losses ...

Schroder managers quit
Schroder Income managers jump ship The two managers of Schroder Income fund, Nick Purves and Ian Lance, have left Schroders to join a small investment boutique RWC Partners.  The £1.5bn Schroder Income is one of the equity income sector’s top performers and is held by many of our clients. As ...

Big pension reform
Big pension reform coming soon A major change in the pension system is to be implemented by the new government. Compulsory annuitisation at age 75 will be abolished in line with a Conservative manifesto commitment. This should enable people to maintain the investments within their ...

Equitable hope
New hope for Equitable losers Long-suffering policyholders in Equitable Life,  which closed to new business in 2000 and slashed bonuses, could be beneficiaries of the Tory-LibDem government. The Parliamentary Ombudsman had recommended compensation,  but this was rejected by the government. ...

Eurocrisis package
Eurocrisis prompts huge rescue package World stockmarkets staged a strong recovery on Monday 10th May, ending a week-long slide caused by spreading fears about the stability of the eurozone. The stabilisation package of some £650bn includes contributions from the European Commission, eurozone member governments ...

Tax rises can wait
Tax increases can wait The 2010 Budget contained no new taxes and a couple of tax concessions, fulfilling its role as a pre-election giveaway simply by not taking any more out of taxpayers’ pockets. A hike in the stamp duty threshold on property to £250,000 for first-time buyers will buy popularity at a cost ...

A no for Bolton
  An expensive excursion to China Like most other people, we have a healthy respect for Anthony Bolton, legendary former manager of Fidelity Special Situations fund. But we are not enthused by his decision to return to active fund management with Fidelity China Special Situations investment trust, currently ...

Here come the taxes
  Tax increases – this is only the start Alistair Darling’s Pre-Budget Report (PBR) raised National Insurance rates by a further 0.5% from April 2011. Since he had already announced a 0.5% increase last Spring, that means that from 2011, NI on earnings over £20,000 a year will be 12%.  Add ...

Tax rises ahead
  Tax rises ahead – plan while you can The UK’s dire fiscal position has featured so regularly in the news that you will probably not need reminding.  To balance the books, future governments will need to cut spending and increase taxes – the National Institute of Economic and ...

Equitable Life setback
Another setback for Equitable policyholders Following the High Court’s rejection of the government’s refusal to accept the Parliamentary Ombudsman’s recommendations for compensation for Equitable Life policyholders, a Parliamentary motion calling for compensation was ...

Churchill's move
Churchill gears up for move to new home Churchill Investments is moving into new premises in the Autumn. The company will not be moving far – a matter of some 200 metres – but the new offices will provide us with more space and far better facilities. The new office, at the centre of Winscombe’s ...

Taxes to rise
  Darling soaks the rich but defers broader tax rises  A new 50% tax rate on high earners, restriction of pension tax relief and a small sop to savers in the form of an increase in ISA allowances were the key measures affecting individual taxpayers in the April Budget. But it was the shocking figures ...

Review cash ISAs
  It's time to review your cash ISAs The one positive measure for savers in the Budget was an increase in the annual ISA allowance to £10,200 from the current £7,200. For those aged under 50, the increase takes effect next April, but for those aged over 50 the new allowance starts ...