AMIFA Blog

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£200 off all Silver Clouds Funeral Plans for all Police, Fire and NHS staff!


This offer is available to all staff in Fire, Police and NHS - currently serving or retired. 


Silver Clouds funeral plans start from £2,250 for their direct cremation while their most popular traditional plan is £3,575 - these prices are before the £200 discount.


Instalment plans are available and are interest free up to 3 years.
Plus all plans arranged via AMIFA Limited get a FREE will.

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Over 55?    ISA or Pension?


Pensions are the most tax efficient saving route. If you contribute to a pension you receive tax relief at the same rate you pay income tax, meaning that returns are boosted at the outset, which will lead to higher returns than an ISA on a like-for-like basis. As a basic rate taxpayer, if you pay a net contribution of £80 this will be boosted to £100 by an additional £20 of tax relief. Essentially, for higher rate taxpayers, a contribution of £10,000 will only cost £6,000 after tax relief and for those on the additional rate of tax the net cost of a contribution will be £5,500. In addition to this, you can receive tax free cash on up to 25 per cent of the fund available when you decide to take benefits. You can do this when you reach age 55 and you can take your tax free cash and leave rest of the fund until a later date if you wish. The annual saving limit for the majority of savers is also £40,000 or your gross salary if lower – significantly higher than the ISA limit of £20,000.

One of the main aspects of a pension that has been off-putting to savers was the inability to access the money. However, with the introduction of pension freedoms, savers are able to take income as and when they require after the age of 55.


Saving via a pension can also be beneficial from an estate planning point of view in a way that ISAs are not. Money purchase pensions are outside of the estate for inheritance tax and thus a highly efficient method of passing on wealth to your children.


Deciding between a pension and an ISA will ultimately depend on your individual circumstances, and in many cases a combination of ISAs and pensions should be used together as part of a financial plan.


The above has been provided for information only and should not be construed as advice.



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Are All Funeral Plans The Same? 


FREE Will or £50 M&S giftcard with all plans


You'd think that a funeral plan is just that; a plan that pays for your funeral, however, after extensive research AMIFA has found that they are not. If the right plan is not chosen at outset your estate may have to pick up an extra cost at the time of your death and even a sub standard service.


Most people want to have their choice of funeral director, maybe because they have been used by the family over the years. Not all funeral plans guarantee this.


Secondly, most funeral plans are costed up with a cremation as the main choice for the funeral and they set aside an amount to go towards the funeral. Depending upon where you live this may not be enough if you wish to be buried and your estate will be called upon at the time of need to make up the difference.


If you are considering taking out a pre-paid funeral plan get in touch to discuss your options now. 


For every funeral plan taken out you have the choice of a FREE will or a £50 M&S gift card.

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Complete Estate Planning Solution


For a limited time AMIFA Limited Financial and Legal Services are offering wills for £50 and an unprecedented offer on Lasting Powers of Attorney.

We are offering a full set of LPA's (Property & Finance and Health & Welfare) for £350 plus the Office of Public Guardian fee of £82 per LPA. If your income is less than £12,000 p.a. then its £41 or free if on certain benefits.

Claim an extra £100 off if you are an existing AMIFA Limited client.

Local solicitors are charging up to £450 plus VAT plus OPG fees so it's a considerable saving.

Don't delay and act today by contacting us to arrange your wills and LPA's today.
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If you're thinking of writing your will (or re-writing it) now is the perfect time to do it as AMIFA is offering wills for just £50 for a limited time! If you are married or have a partner we can do a pair of mirror wills  for just £100.


This offer is valid until 31st December 2017 and applies to appointments at our office or telephone consultations.


Price and discount applies to standard wills only. Additional work for trusts etc will be chargeable in addition.


All wills are prepared and drafted by members of Society of Trust and Estate Practitioners (STEP) so you can be assured of the most up to date and legal will.


AMIFA Limited is a representative of The Right Will and Estate Planning Ltd.

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Are You a Company Director With Life Cover?


Are you currently paying for personal life cover? If the answer is yes, the chances are you'll be paying for it out of post taxed income.This no longer needs to be the case. With a Relevant Life Plan, you can now place the cost of life insurance through your company as a legitimate expense.

You'll benefit from 20% corporation tax relief on the premium and there is no P11D benefit alteration. Directors like yourself can now save 100% of your personal life insurance premium by placing this on company expenses. Make sure your company, shareholders and your family are protected in a tax efficient way.

If you would like to know more please get in touch.
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Lasting Power of Attorney and Joint Bank Accounts


There has been much debate recently about whether or not a Power of Attorney is relevant where people own joint bank accounts. There is a general misconception that when one party loses capacity the party who still has capacity can still access the funds.


HOWEVER, THIS IS INCORRECT!


The British Bankers' Association guidance states that when dealing with a joint bank account where one party has lost capacity the bank can decide whether to temporarily restrict the account, unless or until there is Power of Attorney or deputyship in place.


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