Fairey News
FSCS launches celeb-heavy awareness campaign
A new consumer awareness campaign, which will star five well known celebrities, was launched last week by the Financial Services Compensation Scheme (FSCS). The purpose of the campaign is to increase awareness of the scheme to savers by using the appeal of well known celebrities, including Fearne Cotton.
The FSCS seeks increase it's profile from 63% to 70% by March 2019. The cost of the campaign will be £3.3m and will be funded by the levy collected from the depositor sector, banks in the main. The campaign will involve celebrities from the world of music, entertainment and sport and will run until the end of March 2015.
Mark Neale, Chief Executive of the FSCS said "We know that many of those consumers are not interested in financial or savings issues, so we believe that anchoring stories from a well-known personality's perspective will not only draw consumers into the conversation, but leave a positive level of awareness that will last far longer than the campaign itself."
A new consumer awareness campaign, which will star five well known celebrities, was launched last week by the Financial Services Compensation Scheme (FSCS). The purpose of the campaign is to increase awareness of the scheme to savers by using the appeal of well known celebrities, including Fearne Cotton.
The FSCS seeks increase it's profile from 63% to 70% by March 2019. The cost of the campaign will be £3.3m and will be funded by the levy collected from the depositor sector, banks in the main. The campaign will involve celebrities from the world of music, entertainment and sport and will run until the end of March 2015.
Mark Neale, Chief Executive of the FSCS said "We know that many of those consumers are not interested in financial or savings issues, so we believe that anchoring stories from a well-known personality's perspective will not only draw consumers into the conversation, but leave a positive level of awareness that will last far longer than the campaign itself."
Don't tell the kids but UK teenagers are losing out
An IPSO survey on children's pocket money has found that teenagers in the UK are receiving less than the European average, with UK parents paying less than half that of their counterparts in both Austria and Italy.
The survey, which questioned 12,000 parents across Europe, found that younger children in the UK faired well compared to their European peers but begin to lose out as they get older.
The survey revealed that on average children under the age of 5 in the UK receive £2 a week, which compares well with children in Spain and the Netherlands, who receive 80p and 40p respectively. The only country that beats the UK at his age is Italy, who give on average £4 per week to their children.
Again, UK children between the ages of 5 & 10 fare better than those in Europe, netting on average £5 per week. However, bizarrely from the age of 11 parents in the UK appear to halt the increase in pocket money, with most continuing to pay £5 a week until the age of 15. It does then increase to £9.50 a week on average, but in comparison to children in Austria (£28 per week) and Italy (£24 per week) they are left languishing. In fact only parents in Poland, Romania and the Czech Republic pay less than UK parents.
However, research presented to the Royal Economic Society last year suggest that UK parents may be doing their children a favour, by asking them to earn money rather than it be given it. Academics from Sheffield University concluded that children are much less likely to save if they are given money, compared to those who have a part-time work, such as a paper round and may consequently turn out to be less financially prudent as adults.
An IPSO survey on children's pocket money has found that teenagers in the UK are receiving less than the European average, with UK parents paying less than half that of their counterparts in both Austria and Italy.
The survey, which questioned 12,000 parents across Europe, found that younger children in the UK faired well compared to their European peers but begin to lose out as they get older.
The survey revealed that on average children under the age of 5 in the UK receive £2 a week, which compares well with children in Spain and the Netherlands, who receive 80p and 40p respectively. The only country that beats the UK at his age is Italy, who give on average £4 per week to their children.
Again, UK children between the ages of 5 & 10 fare better than those in Europe, netting on average £5 per week. However, bizarrely from the age of 11 parents in the UK appear to halt the increase in pocket money, with most continuing to pay £5 a week until the age of 15. It does then increase to £9.50 a week on average, but in comparison to children in Austria (£28 per week) and Italy (£24 per week) they are left languishing. In fact only parents in Poland, Romania and the Czech Republic pay less than UK parents.
However, research presented to the Royal Economic Society last year suggest that UK parents may be doing their children a favour, by asking them to earn money rather than it be given it. Academics from Sheffield University concluded that children are much less likely to save if they are given money, compared to those who have a part-time work, such as a paper round and may consequently turn out to be less financially prudent as adults.
Inheritance Tax now the norm for many families in the South East
Recent increases in property prices have moved the average cost of a home above the "death tax" threshold. The average price of a home in the south east of England reached £326,000 in June, surpassing the current IHT limit of £325,000 for the first time.
Despite surging house prices, the inheritance tax threshold has remained at £325,000 since April 2009 and there is no immediate prospect of this changing as the Chancellor, George Osborne, has ruled out any increase to the limit before 2018.
The chairman of the 1922 committee of backbench Tories, Graham Brady MP, has urged the Chancellor to lift the threshold saying “This isn’t just a problem for the south east. The figures show that the average home in the south east now comes above the inheritance tax threshold, but that applies to many homes and to a rapidly increasing number in many parts of the country."
“This was meant to be a tax for the rich that is now hitting ordinary taxpayers and it should be addressed as a matter of urgency.”
In their 2010 manifesto The Conservatives pledged to lift the threshold to £1m but have subsequently blamed the Liberal Democrats for blocking this in government. The Prime Minister, David Cameron, has since said he would "love" to fulfil their 2010 pledge and has indicated that it will be revisited in the Tory 2015 Manifesto and has said “Inheritance Tax should only really be paid by the rich, it shouldn't be paid by those people who have worked hard and saved and brought a family house. The ambition is still there, I would like to go further.”
Despite the Prime Minister's suggesting the limits could increase, it doesn't help those with an immediate Inheritance Tax Planning liability. If you are unsure whether your estate would leave you with an IHT liability or would just like to discuss this subject in more detail, please do get in touch by calling 0845 319 0005 or alternatively click here to complete our Contact Form.
Recent increases in property prices have moved the average cost of a home above the "death tax" threshold. The average price of a home in the south east of England reached £326,000 in June, surpassing the current IHT limit of £325,000 for the first time.
Despite surging house prices, the inheritance tax threshold has remained at £325,000 since April 2009 and there is no immediate prospect of this changing as the Chancellor, George Osborne, has ruled out any increase to the limit before 2018.
The chairman of the 1922 committee of backbench Tories, Graham Brady MP, has urged the Chancellor to lift the threshold saying “This isn’t just a problem for the south east. The figures show that the average home in the south east now comes above the inheritance tax threshold, but that applies to many homes and to a rapidly increasing number in many parts of the country."
“This was meant to be a tax for the rich that is now hitting ordinary taxpayers and it should be addressed as a matter of urgency.”
In their 2010 manifesto The Conservatives pledged to lift the threshold to £1m but have subsequently blamed the Liberal Democrats for blocking this in government. The Prime Minister, David Cameron, has since said he would "love" to fulfil their 2010 pledge and has indicated that it will be revisited in the Tory 2015 Manifesto and has said “Inheritance Tax should only really be paid by the rich, it shouldn't be paid by those people who have worked hard and saved and brought a family house. The ambition is still there, I would like to go further.”
Despite the Prime Minister's suggesting the limits could increase, it doesn't help those with an immediate Inheritance Tax Planning liability. If you are unsure whether your estate would leave you with an IHT liability or would just like to discuss this subject in more detail, please do get in touch by calling 0845 319 0005 or alternatively click here to complete our Contact Form.
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