MJB – CORONAVIRUS (COVID-19) UPDATE – FOLLOWING 22 SEPT GOVERNMENT GUIDELINES

Following the announcements made by the government on the 22 September, we have had to revert back to our previous working conditions as per our Coronavirus (Covid-19) Update posted on the 22nd June 2020.

Despite the office being open for business, Advisers and ‘at risk’ staff members will be working from home where possible.

Please be assured that your emails will still be received and there will be someone here to answer the telephone during normal office opening hours.

We had begun to hold a few client meetings in the office using protective equipment and implementing social distancing measures. Meetings held in this manner, will only be where absolutely necessary and we would be grateful if you could continue to contact us on a non face-to-face basis, for everyone’s safety.  On entering the office a Covid-19 Health Questionnaire will need to be completed for ‘track and trace’ purposes.

Thank you for your understanding in this regard and we hope you are all staying safe well.

Best wishes,

All the Staff at MJB

MJB – SEPTEMBER – CORONAVIRUS (COVID-19) UPDATE

Now that the restrictions have eased, the office is open more or less as normal. Staff and Advisers are still working from home some of the time, but most of us are using the office on a more regular basis.

Client reviews are still being conducted by telephone or video link where possible, and if you would prefer to keep in contact with us by this means for the foreseeable future, please feel free to do so.

If, however, you would particularly like to meet with an Adviser in person, we are in a position to hold meetings in the office.  We have purchased the required protective equipment, as set out in the government guidance.

When you arrive there is a bell to ring on the outer door and hand washing facilities on the ground and first floor.  When you enter the office there is hand sanitiser and a Covid-19 Visitor /Client Health Questionnaire to complete so that we can contact you for ‘track and trace’ purposes, should we need to.

We hope that you have managed to keep well during this pandemic and please don’t hesitate to contact us if you have queries regarding the above.

Best wishes,

MJB

STAMP DUTY LAND TAX

The chancellor has announced a temporary holiday on Stamp Duty Land Tax (SDLT) on the first £500,000 of all property sales in England and Northern Ireland.

The tax threshold has been temporarily raised until March 2021 to boost the property market and help buyers struggling because of the coronavirus crisis.

The changes came into effect from 8 July 2020.

Residential Rates on purchases from 8 July 2020 to 31 March 2021

If you purchase a residential property between 8 July 2020 to 31 March 2021, you only start to pay SDLT on the amount that you pay for the property above £500,000. These rates apply whether you are buying your first home or have owned property before.

You can use the table to work out the SDLT due:

Property or lease premium or transfer value SDLT rate
Up to £500,000 Zero
The next £425,000 (the portion from £500,001 to £925,000) 5%
The next £575,000 (the portion from £925,001 to £1.5 million) 10%
The remaining amount (the portion above £1.5 million) 12%

From 8 July 2020 to 31 March 2021 the special rules for first time buyers are replaced by the reduced rates set out above.

Higher rates for additional properties

The 3% higher rate for purchases of additional dwellings applies on top of revised standard rates above for the period 8 July 2020 to 31 March 2021.

The following rates apply:

Property or lease premium or transfer value SDLT rate
Up to £500,000 3%
The next £425,000 (the portion from £500,001 to £925,000) 8%
The next £575,000 (the portion from £925,001 to £1.5 million) 13%
The remaining amount (the portion above £1.5 million) 15%

MJB – June – Coronavirus (Covid-19) Update

Firstly, we hope that you have managed to stay safe and well and are coping through these strange and unprecedented times.  MJB staff are fit and well at the moment and those that were only working from home are now making an appearance at the office on a limited basis, while still implementing the 2 metre rule.

We have made the decision not to have face-to-face appointments with clients in the office yet.  However, if it is imperative that you meet with an Adviser, there may be the possibility of having a discussion in your garden, while still adhering to social distancing measures.  This, however, remains completely at the discretion of each Adviser and if you can endeavour to correspond by phone, email or video call, this is still preferable.

We been very busy throughout this time. Please don’t hesitate to contact us if you have any queries.

Best wishes,

All the MJB Staff

MJB Coronavirus (Covid-19) Update

In light of the government announcement made yesterday (23 March), we have made the decision to stop all appointments with clients in the office.

Advisers will no longer be able to visit your home.  All corresponding will need to be carried out by email, telephone or via the post.

As our company is defined as ‘essential financial services’, one or two members of staff may be present in the office during some of our normal opening hours.

If you are dropping documents off at the office please use the letter box and do not enter reception, for your protection and ours.

The member of staff on duty will be able to contact your adviser, who will be working from home until further notice.  The best method for clients to contact us is via email.  If you do not have your adviser’s email address please use office@mjbpartnership.co.uk which will be regularly monitored.

We will endeavour to keep you informed by updating our site with any further developments.

Best wishes to you all. Try and stay safe and well,

All the staff at MJB

MJB Coronavirus (Covid-19) Update

Further to our update on the 13th March, we have made the decision not to hold normal face-to-face appointments in the office.

We are, however, still open and staff that are NOT in a ‘high risk category’ are still intending to come to work unless Government restrictions prevent us from doing so.

Your adviser may be able to visit you at your own home, but that will be at your adviser’s discretion.

As things stand at the moment, if you are unable to receive documents via email, print, sign and return them by post, then you can pop into the office briefly for this purpose.

However, if at all possible, contact via phone, email or face-time is preferred for everyone’s benefit.

We are implementing a strict hand washing policy before entering the premises for your/our protection.

Best wishes to you,

All the staff at MJB

Budget Headlines – Spring 2020

  • Budget Day started with an announcement by the Bank of England that the base interest rate will reduce from 0.75% to 0.25%.
  • Income Tax allowances and thresholds remain unchanged.
  • The ISA allowance remains at £20,000 but the Junior ISA contribution limit rises to £9,000.
  • Pension Annual Allowance remains at £40,000 but tapering does not begin until threshold incomes are above £200,000.
  • The National Insurance primary threshold limit rises to £9,500.
  • The CGT annual exemption rises to £12,300.
  • There is a reduction in the allowance for entrepreneur’s relief from £10 million to £1 million.
  • Fuel duty and duty on alcoholic drinks has been frozen.
  • Changes to sick pay were introduced designed to help those with Coronavirus (COVID-19) or symptoms that keep them off work.
  • Business Rates have been removed for the next financial year for the majority of small businesses.

For further details please click on the following link to: Technical Connections Budget Analysis – Spring 2020

MJB Coronavirus (COVID-19) Update

The office is currently running as normal with no changes to opening hours.  However, we have the ability to work remotely as part of our client records are ‘cloud based’.  If necessary, or if you would prefer, we can conduct reviews with you on a non-face-to-face basis.

We are sure that most people are aware that Coronavirus fears have caused a fairly large fall in the global stock markets.  This will have affected most investment and pension funds.

Previous falls of this scale have usually been followed by market recoveries and we hope that we will see a similar outcome on this occasion.  It usually pays for investors to hold their nerve, wait for longer term returns and not partake in panic selling.

Please note, this is not a recommendation and does not constitute financial advice.
The value of investments may fall as well as rise and you may not get back the amount invested.

Last Week in the Markets

14 - 18 September 2020
Index Close Week’s Change 52 - Wk High 52 - Wk Low
FTSE
100
 6,007 -0.62% 7,690 4,899
Dow Jones
(US)

27,657

-0.22% 29,569 18,214
Nikkei
225

23,360

-0.30% 24,116 16,358
DAX  13,116 -1.60% 13,795 8,256

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