Money, Money, Money

It’s a rich (wo-)man’s world, and you deserve to be part of it…


Have you ever wondered what it must be like never to have to worry about the next bill? To feel empowered about your earnings and secure about your income? Well, we want to help you take control of your financial future here in North Devon so we’re enlisting the help of some of the best financial advisors in the South West.

We’ve invited Felix from Philip J Milton & Co to visit us in the studio on a regular basis to help us wade through some of the hot topics concerning financial planning, investment and debt.

If you are struggling with money worries or simply want to take the next step up the investment ladder, this will be for you.

If you have some questions for Felix and the Philip J Milton & Co Finance team please feel free to send them to us now at This email address is being protected from spambots. You need JavaScript enabled to view it. and we’ll endeavour to get your answers aired during his next interview.


Here is his latest blog regarding Allowances:-


Do you make full use of your annual tax exemptions?


There are many tax efficient allowances granted by the government although many go unused every year. Whilst there are some exceptions, usually if you don’t use it, you lose it! Here are two of the most common allowances that usually go unclaimed:


Marriage Allowance – Married couples born after 5 April 1935 where one spouse is a non-tax payer and the other is a basic rate tax payer can transfer up to 10% of the non-tax paying spouses personal allowance, saving the tax paying spouse £237 per year in tax. This can be back dated to 2015 too!


Uniform Allowance – If you have to wear a set uniform to work, did you know that you can claim tax relief every year towards the upkeep and replacement of specialist clothing required for work? Whilst the full list of qualifying occupations and amounts available to claim are on the HMRC website, many can claim the flat rate of £60 (saving £12 in tax for basic rate tax payers and £24 for higher rate) and this can be back dated to the past 4 years if needed.


Do you make use of all the allowances available to you?





"Defined Benefit Pensions – Are you aware of the true value of these benefits?


Defined Benefit or Final Salary pensions used to be a common feature of the workplace which provided employees with a guaranteed income for life when they retired, often based upon their final salary. These types of pension were never fully funded and relied on a ‘promise’ from the employer that they would pay the pensions until the individual died.


Due to the vast cost to the employer, the majority of these schemes has now closed as each employee represents a future liability to the employer. Many schemes are offering transfer values to members, offering a cash lump sum in exchange for giving up their annual pension. These figures can be as much as 40 times the annual income.

If you want control over your benefits, seeking financial advice may be the best route for you."  Felix Milton, Philip J Milton & Co.  



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