I was looking to buy a new home but felt overwhelmed by all the paper work and processes involved. I run a small business and my time is heavily limited and as such the thought of having to meet bank managers and fill in lengthy forms just wasn't going to be possible. Coupled in with the solicitors and everything else that comes with buying a new home I just felt that I may have to kick the can down the road for yet another year....until I was introduced to Daniel Harris for James & co.
Daniel took all the stress and effort out of the process. It was a breeze, really it was. Daniel came to my place of work and took control of
ClientM.Smith, Tunbridge Wells
I was introduced to James and Co. Wealth Management Ltd. some years ago and I have experienced very good service from them. Grant Miles responds quickly to emails, giving wise advice, having listened to my views on how I wish to investment my money. Sue Harris is efficient in administration and has graciously helped me on many occasions with my lack of technical knowledge. My portfolio has increased very well and I look forward to my investments increasing in value as we continue working together.
ClientP.C, London
We have used the services of James & Co for many years. They are always professional and provide valuable advice and guidance with all investment matters. We have seen significant growth with our investments due to their diligence and experience. Although money markets are volatile, James & co can be trusted to help you make the right decisions according to your own personal needs.
ClientLynn Scott, Burnham on Crouch
I have pleasure in recommending Grant Miles of James & Co. He has managed investments and pensions over three generations for my family and has always provided a professional and friendly service.
ClientDiane Plumb, Ferndown
My request to Daniel Harris was to find me funds to remortgage two of my properties, in order to raise money to purchase another, to live in. Dan listened and understood my financial needs, researched the possibilities and came up with the goods swiftly. Although the mortgage companies contacted me, Dan was able to deal with them directly which helped me considerably. Dan is very professional, responds to emails and telephone calls speedily, takes on all tasks so the client is fully supported in the mortgaging process. I look forward to my annual ‘mortgage update’ conversation with him next year.
ClientP.C, London, Testimonial 2
When I first met young Grant I was as poor as a Church Mouse, now look at me! I can’t speak highly enough about this company they dot every i and cross every t. I’m heading for retirement which feels like creating a whole new business plan, James & Co make it sound so easy, which is what you need when one has busted a gut for the past 49 years and in those years my journey was not a gifted one, many troughs not many peaks. Best of luck to James & Co and all their customers.
TAX TREATMENT VARIES ACCORDING TO INDIVIDUAL CIRCUMSTANCES AND IS SUBJECT TO CHANGE.
(Please note – this is for information only and does not constitute advice. This is a potentially complex area and for further information or to obtain a State Pension statement please visit the government website at https://www.gov.uk/browse/working/state-pension)
About the state pension
A State Pension is a regular payment made by the government to people who have paid or been credited with a minimum amount of Class 1, 2 or 3 National Insurance Contributions and have reached State Pension age.
State Pension Age
Currently, the State Pension age for men is 65 and it is gradually increasing for women. The State Pension age for women will increase to 65 by November 2018. By October 2020, the State Pension age for men and women will be 66, increasing to age 67 between 2026 and 2028.
The State Pension is paid whether the claimant is working or not and is paid regardless of any income and/or existing savings or capital the claimant may have.
Claiming the State Pension
The State Pension must be claimed — it is not paid automatically. The claim can be made online, by calling 0800 731 78098 or by downloading a form and sending it to a pension centre. N.B. Different arrangements apply in Northern Ireland.
Payment frequency
The State Pension is usually paid every 4 weeks, in arrears, directly into the claimant’s bank or building society account.
Working beyond State Pension age
The State Pension can be claimed even if the individual chooses to work beyond State Pension age.
The State Pension may be taxable
The State Pension is considered part of the recipient’s earnings and may be subject to income tax.
Postponing the State Pension
It is not compulsory to claim the basic State Pension at State Pension age — it can be deferred until the claimant chooses to receive it. In return for ‘postponing’ his or her claim (and providing the claimant lives in the EU, European Economic Area, Gibraltar, Switzerland or any country the UK has a social security agreement with) the pension payment will increase by 1% for every 9 weeks it is deferred.
Claiming the State Pension while living overseas
Although the State Pension can be claimed while living outside of the UK, it will only be increased each year if the claimant lives in the EEA, Switzerland or in a country which has a social security agreement with the UK.
Basic State Pension on death
Any surviving spouse or civil partner that is over State Pension age and not already receiving the maximum payment may be able to increase their State Pension by using the deceased’s qualifying years. If the spouse or civil partner is under State Pension age, any State Pension based on the deceased’s qualifying years will be included when he or she claims their own State Pension.
There are currently two State Pension systems — each system has different rules.
The State Pension for individuals reaching State Pension age prior to 5 April 2016 ('old' State Pension).
This summary applies only to women born before 6 April 1953 and men born before 6 April 1951. Different rules and benefits may apply for people living in the Isle of Man, Northern Ireland and abroad.
Maximum payment
For the financial year 2018/2019, the full rate of benefit for women born before 6 April 1953 and men born before 6 April 1951, is £125.95 per week.
The payment is increased every year by whichever of the following three percentages is the highest:
the average percentage growth in wages in Great Britain
the percentage growth in the Consumer Price Index
2.5%
National Insurance Contribution record
The amount of State Pension a person receives is based on the total number of annual National Insurance Contributions (NICs) paid in the UK by him or her prior to reaching their State Pension age.
To be entitled to the full State Pension, it is necessary to have 30 ‘qualifying years’ of NICs or credits. A qualifying year is a tax year in which the claimant has paid or been treated as having paid or has been credited with sufficient NICs to make that year qualify in State Pension calculation terms.
Each qualifying year entitles the claimant to 1/30 of the full State Pension.
If there are ‘gaps’ in his or her NIC record, the claimant will get less than the full amount of £125.95 a week. NIC gaps can be caused by being employed but with low earnings, being unemployed but not claiming benefits, caring for someone full time, being self-employed and choosing not to pay NICs, or living abroad.
Bridging the contribution gap
Depending on the claimant’s age, it may be possible to pay voluntary NICs to bridge some or all of the gaps in his or her National Insurance record over the past 6 years or beyond.
The new State Pension (for individuals reaching State Pension age after 5 April 2016)
This summary applies only to women born on or after 6 April 1953 and men born on or after 6 April 1951. For individuals who are already claiming a State Pension, or reached State Pension age before 6 April 2016, the old State Pension rules apply. Different rules and benefits may apply for people living in the Isle of Man, Northern Ireland and abroad.
Maximum payment
For the financial year 2018/2019, the full rate of benefit for people reaching State Pension age, on or after 6 April 2016, is £164.35 per week.
Unlike the old State Pension, the new State Pension will not be subject to additional pension-related benefits, such as the State Second Pension (S2P) and the State Earnings Related Pensions Scheme (SERPS). The new State Pension will instead provide a single tier of benefit.
The payment is increased every year by whichever of the following three percentages is the highest:
the average percentage growth in wages in Great Britain
the percentage growth in the Consumer Price Index
2.5%
National Insurance Contribution record
The amount of State Pension a person receives is based on the total number of annual National Insurance Contributions paid in the UK by him or her prior to reaching their State Pension age.
To be entitled to the full State Pension, it is necessary to have 35 ‘qualifying years’ of National Insurance Contributions (NICs) or credits. A qualifying year is a tax year in which the claimant has paid or been treated as having paid or has been credited with sufficient NICs to make that year qualify in State Pension calculation terms.
Each qualifying year entitles the claimant to 1/35 of the full State Pension.
If there are ‘gaps’ in his or her NIC record, the claimant will get less than the full amount of £164.35 a week. NIC gaps can be caused by being employed but with low earnings, being unemployed but not claiming benefits, caring for someone full time, being self-employed and choosing not to pay NICs, or living abroad.
Bridging the contributions gap
Depending on the claimant’s age, it may be possible to pay voluntary NICs to bridge some or all of the gaps in his or her National Insurance record over the past 6 years or beyond.
National Insurance Contributions made before 6 April 2016
The claimant’s National Insurance record before 6 April 2016 is used to calculate a ‘starting amount’ for their pensions. The starting amount will be the higher of the amount he or she would get under the old State Pension rules (less any Additional State Pension) or the amount they would get if the new State Pension had been in place at the start of their working life. If the starting amount is less than the full new State Pension, the claimant is allowed to add more qualifying years to their National Insurance record.
National Insurance contributions made after 6 April 2016
Individuals starting to make NICs from 6 April 2016 onwards, will need 35 years of NICs or credits to claim the full amount of state pension. Those with 10 - 34 years of contributions will receive a proportion of the full State Pension and anyone with less than 10 years of contributions will not be entitled to any amount of State Pension.
