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June 2021
Why is Cazoo worth Billions?
Posted on: 28 Jun 2021 by: CamOuse Financial Management Limited
We have all seen the headlines: “XYZ Company valued at £3bn in latest funding round.”
Very often, it is a company we have never heard of. Almost always, the company has yet to make a profit. And yet, here it is, valued at billions of pounds (or dollars) and raising sums of money that make the amounts asked for on Dragons’ Den look like petty cash.
Where Will High Street Banks be in Ten Years’ Time?
Posted on: 23 Jun 2021 by: CamOuse Financial Management Limited
You will likely have grown up knowing the ‘big four’ banks and their presence on every high street. Barclays, NatWest, Lloyds and HSBC (which you may remember as Midland Bank) were prominent in almost every town. If you needed a loan – especially if it was for business purposes – then your first port of call was the bank manager.
This pension tax adjustment could make an enormous difference
Posted on: 10 Jun 2021 by: CamOuse Financial Management Limited
A suggested tweak to the rules around accessing money from your pension, tax free, could have really positive ramifications for those looking to make the most out of their retirement. Currently, it is not uncommon for savers to withdraw their entire pension pot in cash.
Lockdown Leads to Record Number of New Businesses
Posted on: 3 Jun 2021 by: CamOuse Financial Management Limited
In the middle of May pubs and restaurants reopened after lockdown. Finally, we could have a drink or a meal inside.
But what was noticeable was the number of pubs and restaurants that didn’t reopen. Speaking on the BBC News, the owner of one establishment gave a very simple explanation: “we cannot get the staff.” After a year of various lockdowns, furlough and uncertainty it would be easy to think people would be queuing up for jobs. The reverse seems to be the case.
Average house price hits the highest growth rate since before the 2007 financial crisis
Posted on: 2 Jun 2021 by: CamOuse Financial Management Limited
This March saw the prices of residential properties rising at the fastest rate since just before 2007’s financial crisis, with the average price of a home in the UK increasing by 10.2% in the year up until March. The stamp duty holiday introduced by the Government certainly played a part in this development.
June Market Commentary
Posted on: 2 Jun 2021 by: CamOuse Financial Management Limited
In some ways, May was a relatively quiet month. Although, it did bring us the marriage of Prime Minister Boris Johnson, the first PM to marry in office since Robert Jenkinson, 2nd Earl of Liverpool, in 1822.
Having eaten a slice of wedding cake and gone straight back to the office, Boris Johnson will be relatively pleased with what he saw in May. There were plenty of optimistic forecasts for the UK economy and the stock market ended the month above the 7,000 mark.
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I thought CamOuse were very helpful and dealt with my enquiries promptly.
D Mowatt
Clive Nickalls
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I have been a client of CamOuse's for many years. My advisors have provided assistance with mortgages, financial planning, investments and most importantly my future. The team remain passionate and professional and I would recommend CamOuse without question.
L Isbell
Trevor Honey & Clive Nickalls
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The staff are always happy to help.
J Pearce
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Lee has always given me excellent advice when choosing a new mortgage. I would highly recommend him.
R O'Dell
Lee Pooley
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Everyone is very friendly, approchable, helpful and professional.
G Parr
Trevor Honey
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I would like to thank Lee for all his help, he was amazing!
Silk & Schwarz
Lee Pooley
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Lee was recommended to us by 2 of his existing clients, colleagues and friends of ours and I'm glad they did so! He made the whole process much simpler then we were expecting.
Burgess & Bedford
Lee Pooley
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Lee has helped us on several occassions and we always appreciate and value his time and efforts.
I & A Murphy
Lee Pooley
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I really appreciate the prompt, friendly, efficient service.
V Hardy
Clive Nickalls
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Very pleased with the service provided and happy to recommend to my customers and friends and family.
M Chadburn
Clive Nickalls
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I would like to express my thanks for the excellent service I have received and a special thank you to Hannah for keeping me updated and dealing with my queries in a very efficient and professional manner.
T Long
Matthew Theobald
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Thank you (and Eve) so much for all your help and support towards our remortgage. We really appreciated your expertise.
Cant & Robbins
Lee Pooley
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I would just like to thank you all on behalf of myself and Jordan. You, Eve and Max have been faultless and we couldn’t be more appreciative for all your help!
C Baldwin
Lee Pooley
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Lee has provided me with mortgages and appropriate insurance for both my home and lease properties. He is professional and works to get policies in place in an extremely quick time frame. I would certainly recommend Lee and CamOuse to anyone and I personally will continue to use their service.
G Habbin
Lee Pooley
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I have been a client of CamOuse Financial Management Ltd for many years and have always found their services to be of the highest quality.
N Parker
Jo Kurz
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Amazing company, very friendly, professional, and always on hand to give sound advice. My family has been utilising their expertise for many years and have never been let down.
S Bradley
Jo Kurz
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Sound financial advice and planning. Responsive and friendly service.
B O'Connor
Jo Kurz
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The whole team at CamOuse are friendly, professional and always look after your best interests. Thanks for your help!
G Hall
Lee Pooley
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We've only been with CamOuse just over a year but would highly recommend them. We deal with Matthew who is an excellent adviser, always very responsive to questions and goes the extra mile to help.
P Carter
Matthew Theobald
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I was so pleased and relieved to find this company. Particularly pleasing is their communication - it's jargon-free, concise and clear. We've been very happy with advice given thus far, and also their responsiveness whenever we've had any queries.
A Cant
Jo Kurz
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We used Lee at Camouse to arrange our mortgage and can highly recommend him to provide an honest and professional service in this area. We will certainly return to Lee for remortgage advice in the future.
A Attewell
Lee Pooley
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Would like to extend our thanks to you and your team for a fantastic customer service as always.
E & R Mendoza
Lee Pooley
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We paid a small fee to Camouse for whole of market mortgage broker services. As first time buyers, Lee and Eve were able to guide us through the process, find us a deal and sort out the applications in a really helpful friendly and efficient way. We were very satisfied and would recommend CamOuse to others for this service.
L Humphrey
Lee Pooley
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I was extremely pleased with the quality of the service I received when arranging a mortgage as part of a house sale and purchase through CamOuse. Lee and Eve were very easy to contact and always quick to respond. I would definitely recommend their mortgage arrangement services.
G Dewdney
Lee Pooley
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Jo has been extremely helpful and very patient and I will be recommending her highly to other family and friends of mine. I do sincerely appreciate the way Jo handled my issues and also the excellent and very professional way she conducted business. She is an absolute asset to CamOuse.
C Tate
Jo Kurz
CamOuse Financial Management is authorised and regulated by the Financial Conduct Authority.
None of the information contained in this website should be considered as personal recommendation and is for information only. Should you wish to make a financial transaction we recommend that you take personal financial advice after a thorough review of your personal and financial circumstances.
The information contained within the website is subject to the UK regulatory regime and is therefore primarily targets at customers in the UK.
Registered address: Unit 111, Lancaster Way Business Park, Ely, Cambridgeshire, CB6 3NX
Registered in England and Wales. Registered No: 5662116.
Understanding the true cost to your business
Pension arrangements must be available for all employees. There are three categories of employee:
Eligible
Aged between 22 and State Pension Age (SPA) with qualifying earnings over the Auto Enrolment earnings trigger
Non-eligible
Entitled
Important Notes
- Eligible jobholders must be auto-enrolled
- Non-eligible jobholders are allowed to be auto-enrolled if they want to
- Entitled workers are entitled to join a pension scheme, but the employer doesn't have to contribute
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Qualifying Earnings lower threshold |
£5,772 |
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Qualifying Earnings upper threshold |
£41,865 |
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Automatic Enrolment earnings trigger |
£10,000 |
Minimum contribution level options:
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8% of Qualifying Earnings of which |
3% is employer's (starting at 1%) |
|
9% of Basic Salary of which |
4% is employer's (starting at 2%) |
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8% of Basic Salary of which |
3% is employer's (starting at 1%) |
|
(Where basic salary is at least 85% of total earnings) |
|
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7% of gross earnings of which |
3% is employer's (starting at 1%) |
Pay reference period
Essentially the frequency that the jobholder is paid e.g. monthly, weekly etc. but with reference to the tax month, week etc. therefore it may not be the same as the payroll period.
Deduction and payment of contributions
It is the employer who is responsible to calculate, deduct and pay all contributions to the AE scheme. NOTE – the first and last contributions are likely to be for less than a full pay reference period and should be adjusted accordingly.
Payroll services
It can be seen that it is very important that the payroll system synchronises with the AE scheme otherwise the employer will not be carrying out all requirements and then penalties will be incurred.
Staging date
Based on the employer’s payroll size as at 1 April 2012 and can be found at www.thepensionsregulator.gov.uk/employers using your PAYE reference. The Qualifying Workplace Pension Scheme must be registered with The Pensions Regulator within 4 months of the staging date.
Compliance and communication
Postponement
Auto-Enrolment can be postponed for up to 3 months:
- For current eligible employees
- For workers that meet the criteria in the future for the first time e.g. avoid joining temporary or lower paid workers
Opt-Outs
All eligible employees must be auto-enrolled, but can, with the correct notification, opt-out within one month of joining the scheme and be treated as never having joined. They can opt back in and will automatically be auto-enrolled every 3 years in any case!
Communication
There is a wide range of information that must be provided to all employees at certain times, such as:
- The date auto-enrolment took place for eligible jobholders
- That non-eligible jobholders have the statutory right to opt in
- Entitled workers have the right to request the employer to enrol them into a pension scheme
Salary sacrifice
Contributions can be paid by effectively reducing salary, which saves on NI contributions, but employee must choose to do this – they cannot be forced, so a contractual variation will need to be implemented.
Default investment fund
Investment Options
All eligible employees will be automatically invested into a default investment fund, which is a balanced risk fund that is “life styled” to account for the employees approach to retirement. They also have the option to invest in a wide range of funds of their choosing.