11 minute read
Business
John, Logan and Dane of family business, Rainford IT
New free app protects your phone from scam call
Advertisement
Call Protect is a free spam and robo call blocker with automatic Caller ID tool that safeguards you against known telemarketers, robo-callers, scammers, surveys, spammers, and other unwanted callers. With Call Protect, you can have peace of mind while it silently works for you to reduce the number of unsolicited phone calls you receive.
Call Protect maintains the latest list of active spam and robo-callers which is monitored and updated in real-time. Each time you activate Call Protect this list is updated onto your device. High risk numbers identified as harmful are automatically blocked; whilst other, potentially harmful numbers, are added onto your phone with their caller ID information containing a warning message. This alerts you when you receive a phone call from suspicious callers. Call Protect is free but also offers additional features for a small monthly fee. apps.apple.com/us/app/call-protect-robo-blocker/ id1357820531 Which? warn of loan fee fraud
Which? report that cases of loan fee fraud are up by a fifth compared to last year. It’s a scam where a fraudster asks you for an upfront fee, usually between £25 and £450, in order to take out a non-existent loan. They usually target people who have been searching for loans online.
If you are looking for a loan - always check the legitimacy of the lender by using the FCA’s website to ensure they are registered www.fca.org.uk
If you have been affected by a scam – help is out there - Victim Support has a free confidential helpline 0808 168 9111 and so does Mind 0300 123 3393.
Sign up for Which? Scam alerts: campaigns.which. co.uk/scam-alert-service/
Find details of recent scams here: www.actionfraud. police.uk and on our Facebook page: Rainford-it-stay safe online and on our blog on our website. www.rainford-it. co.uk 07552 863996
Women who want to network
Two Oswestry businesswomen have launched a monthly business networking event for women running their own businesses
Louise Idoux, Herbalist and owner of The Herbarium in Oswestry and Katie Millard, Happiness Club Trainer/Advanced Clinical Hypnotherapist, founded the group Oswestry Business Queens to help connect self-employed women locally. “After the Pandemic, lots of local networking groups either ceased or moved completely online,” said Louise, “but there’s nothing quite like face-toface networking and it seemed such a shame it had all stopped.” Katie added, “We put our heads together and decided to set up our own monthly event to help businesswomen not only form new connections, but also feel supported and access some brilliant guest speakers.”
The group has been running since May 2022 and launched full steam in to 2023 with their first meeting of the year on 9 January. Local marketing specialist Ruth Martin of Martin & Jones Marketing was guest speaker, imparting her knowledge and expertise to the group.
Having a good network is well known to be extremely useful for businesses. Not only does it provide an essential support network and safe place to bounce ideas around, but you never know who someone might know. It could be that link to an organisation you have been trying to make for a long time.
The monthly meetings are held in Oswestry Memorial Hall, on the first Monday evening of the month at 7.30pm. All meetings include free time for attendees to talk about their business and make new contacts, along with a guest speaker who will talk on a specific topic - from marketing to mindset, accountancy to social media. Spaces are free to book via Eventbrite. A £5 donation is requested from each attendee on arrival to cover refreshments and room hire.
Income Tax and dividend income
The Income Tax additional rate threshold will be reduced from £150,000 to £125,140 with effect from 6 April 2023. This move will see an estimated 250,000 further taxpayers pay the additional rate of Income Tax of 45% from next April.
The current £2,000 dividend tax-free allowance is to be reduced to £1,000 from April 2023 and to £500 from April 2024.
The 1.25% increase in the tax rates payable on dividend income, which took effect in April 2022 remains in place.
The rates that apply in all regions of the UK from 6 April 2023 that dividends form part of are as follows: • The basic rate band – 8.75% • The higher rate band – 33.75% • The additional rate band – 39.35%
Capital Gains Tax (CGT)
There is a significant reduction in the annual exempt amount applicable to CGT. This rate had previously been fixed at £12,300 from April 2021 to April 2026 for individuals, personal representatives, and some types of trusts for disabled people.
The exempt amount will now be reduced to £6,000 from April 2023 before being further reduced to £3,000 from April 2024.
Corporation Tax (CT)
The Chancellor had previously announced on 17 October 2022 that the planned increases in CT rates from April 2023 would be going ahead.
From 1 April 2023, there will be two rates of CT. • Taxable profits up £50,000 will continue to be taxed at 19%. • Taxable profits more than £250,000 will be taxed at the main rate of 25%.
Profits between £50,000 and £250,000 will be subject to a marginal tapering relief.
National Living Wage (NLW) increases
The NLW will increase to £10.42 per hour (previously £9.50) from 1 April 2023.
The full changes to the National Minimum Wage rates per hour from 1 April 2023 are as follows: • 21 to 22 year-olds - £10.18 • 18 to 20 year-olds - £7.49 • 16 to 17 year-olds - £5.28 • Apprentice rate - £5.28 Aaron Powis BSc (Hons) B.F.P., F.C.A., C.T.A - Partner
We are passionate about business and strive to provide our clients with a prompt and personal service, supported by the latest technology. We are able to provide assistance with:
Self Assessment Audit Bookkeeping Limited Companies VAT Returns Incorporations Accounts Preparation Payroll Making Tax Digital
Plus many more specialised services
Oswestry 01691 654353 Tax@dre.co.uk Ludlow 01584 875715 Ludlow@dre.co.uk Shrewsbury 01743 241581 Shrewsbury@dre.co.uk Knighton 01547 528383 Knighton@dre.co.uk Newtown 01686 626534 Newtown@dre.co.uk Wrexham 01978 310600 Wrexham@dre.co.uk
Visit our website at www.dre.co.uk
www.ghplegal.com www.ghplegal.com
Local lawyerWorking towas r fods r locala kind peopleer future
www.ghplegal.com
Local lawyers for local people Accident & Injury Agriculture & Estates Business Structure & Issues Children Clinical Negligence Company & Commercial Commercial Property AccidentCourt of P &ro Injurytection AgricultuCrime &re R & Estatesegulatory Business Structure & IssueEmployment Law s Fami Childrenly & Matrimonial Li Clinictigation & al DiNegligencespute Resolution Company &Mental CommeHealth rcial Commercial ProPrison Lawperty P Court of Professional rotectionNegligence ProCrime & Regulatobate, Wills, Tax & ryTrust
Employment LawResidential PropertyOSWESTRY
Family & MatrimoSpinal Injuries01691 659194 nial Litigation & Dispute Resolution Mental Health Prison Law Professional Negligence Probate, Wills, Tax & Trust OSWESTRY 37-39 Willow Street, SY11 1AQ & 21 The Cross, SY11 1PN COVID-19 Residential Property Spinal Injuries Tel: 01691 659194 oswestry@ghplegal.com Our expert lawyers continue to provide support guidance and advice on all legal matters
Accident & Injury Agriculture & Estates
Business Structure & Iss Accident & Injuryues Children Clinical Negligence Agriculture & Estates
Company & Commercial Business Structure & Issues Commercial Propert Court of Protection Children y Crime & Regulatory Clinical Negligence
Employment Law Company & Commercial Family & Matrimonial
Litigation & Dispute ResolutioCommercial Property n Mental Health Court of Protection Prison Law Professional NegligenceCrime & Regulatory Probate, Wills, Tax & TrusEmployment Law t Residential Property Spinal Injuries Family & Matrimonial
01978 860313Prison Law
WREXHAM 01978 291456 Professional Negligence
Probate, Wills, Tax & Trust
Residential Property Spinal Injuries
WREXHAM 01978 291456 OSWESTRYwrexham@ghplegal.com 37-39 Willow Street, SY11 1AQ
&
21 The Cross, SY11 1PN Tel: 01691 659194 oswestry@ghplegal.com
NO- LLANGOLLENWIN, NO-FEE OPTIONS : WELSH SPEAKERS 01978 860313 CONTRACTED WITH THE LEGAL AID AGENCY llangollen@ghplegal.com Authorised & Regulated by the SRA No. 51566 NO-WIN, NO-FEE OPTIONS : WELSH SPEAKERS
WREXHAM 01978 291456 wrexham@ghplegal.com
LLANGOLLEN 01978 860313 llangollen@ghplegal.com
NO-WIN, NO-FEE OPTIONS : WELSH SPEAKERS CONTRACTED WITH THE LEGAL AID AGENCY Authorised & Regulated by the SRA No. 51566
Q&A
with GHP Legal’s Victoria Wilson
Can someone update their Will if they have dementia?
Q: My parents separated a few years ago but have never bothered divorcing. Now my mother has been diagnosed with dementia and I have discovered that she didn’t update her Will after my father left her. Is it too late for her to do it now she has received her diagnosis?
A: Whether or not your mother can make a new Will depends on whether she still has ‘testamentary capacity’. To have testamentary capacity she must fi rst be capable of understanding what a Will is and the nature and effect that its contents will have. She must also understand the extent of what she will be leaving in her Will and the obligations she would normally have towards her family and other individuals who are benefi ciaries.
Even though your mother has been diagnosed with dementia and perhaps struggles to retain information, it may still be the case that she is capable of making a decision and may therefore still have capacity to make a Will as incapacity usually takes time to develop. This is particularly so with dementia.
If your mother’s dementia has progressed to the point of her losing capacity, then under The Mental Capacity Act 2005 you could apply to the Court of Protection to have a ‘Statutory Will’ prepared. In making a Statutory Will on your mother’s behalf the Court must consider her past and present wishes as well as her feelings, beliefs and values and act in her best interests. The Court is most likely to execute a statutory will if the testator has never executed a will, or if there has been a signifi cant change in the testator’s circumstances.
Making an application for a Statutory Will can be both complex and time-consuming and will require obtaining medical evidence of the person’s mental capacity. It is therefore advisable to seek advice from an experienced Court of Protection solicitor
This question has been answered by Victoria Wilson, a Partner with GHP Legal. If you would like to speak to someone about this or any other legal matter it is still possible, and we are doing everything we can to ensure that we continue to offer our high levels of service to our clients. Where possible, we ask that you communicate with us by phone or email. If you have a new enquiry or for an appointment visit www.ghplegal.com or contact one of our offi ces: Wrexham 01978 291456, Llangollen 01978 860313, Oswestry 01691 659194
WOULD YOU BE PROTECTED IF THE WORST HAPPENED?
If the past few years have taught us anything, it’s to expect the unexpected.
And while it’s not possible to prepare for every eventuality, there are practical steps you can take to make sure that you - and your family - are protected should the worst happen.
Whether that’s falling ill, being made redundant or someone close to you passing away, there are ways to ensure you have fi nancial certainty when you and those dependent on you need it most.
One of the best options for long-term support is income protection. It’s designed to provide you with a regular, tax-free monthly payment (typically around 60% of your gross pay) if you fi nd that you can’t work due to illness or injury. This will continue until you are able to return to work, or the policy comes to an end, giving you a safety net to help cover bills and outgoings until you are back on your feet.
Critical illness cover, on the other hand, provides you with a one off tax-free, lump sum of money if you suffer a critical illness listed by the policy provider. Not everyone will need both this and income protection, but if you have any debts, are paying a sizable mortgage that your income protection insurance wouldn’t cover or need to make any adaptations to your home it could be invaluable.
Lastly, life insurance gives you the comfort of knowing your loved ones will be looked after if you suddenly pass away. Current research estimates that around 70% of people don’t, however, have this in place which means there are thousands of families who could struggle to cope fi nancially if they, or their partner, died. Life insurance takes these worries away and provides stability even if you can’t be there.
If you’re not sure where to start when it comes to fi nding the right policy for you, give our friendly team at Belgrave Wincham a call on 01691 886554 for expert and impartial advice.
PLAN FOR YOUR FUTURE TODAY
You can rely on our team of independent fi nancial planners to provide professional advice to protect your future.
CRAIG ROBERTS
Oswestry-based independent financial adviser
CALL 01691 886554
Belgrave Wincham Limited is an appointed representative of ValidPath Limited, which is authorised and regulated by the Financial Conduct Authority under FRN 197107. Belgrave Wicham Ltd registered in England and Wales number 12167416.
FIND US AT:
24 West View CHIRK Wrexham LL14 5HL
COMPLETE | PRINTING | SERVICE 01691 774778
OPEN
10am-2pm | Monday to Friday
