Many world investment markets performed strongly in 2017 only to falter in the first part of this year on the back of concerns about US President Donald Trump’s proposal to impose trade tariffs on a... The post Professional investment advice is invaluable when it comes to managing uncertainty appeared first on George...

Many world investment markets performed strongly in 2017 only to falter in the first part of this year on the back of concerns about US President Donald Trump’s proposal to impose trade tariffs on a number of countries including China and the members of the European Union.

As I write, some market stability has returned and the oil price has surged on President Trump’s further announcement of the USA’s withdrawal from the Iran nuclear agreement that was finalised by his predecessor. Although it is perhaps still too early to determine the longer-term consequences of this development, it has so far proved positive for the United Kingdom equity markets and shares in some FTSE100 oil companies have benefitted.

For the UK as a whole, Brexit uncertainty remains, due in part to continuing political problems concerning the Irish border and in establishing an acceptable customs arrangement. Economically, the UK remains at the lower end of the growth scale compared with other developed nations and, as inflation is showing signs of falling, the scope for multiple interest rate rises this year seems limited.
Investors who depend on income can expect only moderate upward movement in interest rates on cash deposits – if you are in a position to invest capital for more than three to five years, the investment markets could continue to represent an attractive alternative.

Professional advice is essential when it comes to deciding how much risk you want your investment strategy to take on board – it is vital to review your portfolio regularly in order to take account of changing events, and it is important to maintain a balance between easily-accessible funds for emergencies and locking your money away for the longer term.

But choosing the right investment advisor is not always easy. Always check whether the firm’s advisors hold professional qualifications and, ideally, are members of the Chartered Institute for Securities & Investment. Find out how much experience an individual advisor has and how frequently you would receive a report on your account – and remember to ask how the firm’s advisors get paid. If the firm does not charge a fee for its services, it is likely that your advisor is paid exclusively by commission on the investment products they recommend and in this case clients should be wary, while the charging structure for any up-front fees should be explained clearly.

For more information or to talk to the George Ide team about the investment services we provide, call us on 01243 786668 or email us at info@georgeide.co.uk.

John Atkinson. Chartered Wealth Manager

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Technological advances have enabled prosthetics manufacturers to create some incredible devices for amputees – but these limbs do not come cheap and the National Health Service has competing priorities and demands on a finite budget.... The post Personal injury amputee claims – who should pay the price for prosthetics and remedial care? appeared first on George...

Technological advances have enabled prosthetics manufacturers to create some incredible devices for amputees – but these limbs do not come cheap and the National Health Service has competing priorities and demands on a finite budget.

NHS England plans and buys specialised services for people with complex disability needs, including lower and upper limb amputees – according to its website, the NHS works to ensure it achieves maximum return from every pound spent while providing the best quality of care for patients. It is clear, then, that spending on prosthetics is being carefully scrutinised and reviewed. According to NHS figures, up to 60,000 patients with amputation or congenital limb deficiency require prosthetics and attend specialist service centres across the UK, and NHS England spends approximately £60 million every year on these services.

These costs are not limited to the manufacturing of the prosthetics themselves; funding is also required for fitting, replacement parts and servicing, as well as specialist multi-disciplinary teams including psychologists and prosthetists providing individual patient services such as rehabilitation consultancy, physiotherapy and occupational therapy.

Those who have been injured as innocent victims of someone else’s lack of care rightly pursue compensation from the negligent party and are entitled to claim for private rather than NHS treatment – indeed, many people feel strongly that in such cases the negligent party’s insurance company should be made to foot the bill, instead of using up precious NHS resources and potentially depriving other patients whose need is also great.

The NHS is required to apply strict assessment criteria when allocating prosthetics to patients – and the latest cutting-edge technology is often the most expensive option. This includes gyroscopes, hydraulics, acceleration sensors, computer-controlled ‘smart’ limbs linked via microprocessors to mobile phone apps, strong and waterproof hi-tech materials including high-grade titanium, and artificially-powered ‘sprung’ ankles that can replace lost calf muscles.

The George Ide team has successfully supported many amputees through the claims process in the past and we are committed to continuing this valuable work. By working closely with leading experts, we seek to restore injured clients’ quality of life and help them reclaim their lives by achieving their best-possible rehabilitation, prosthetics, aids, equipment, transport and housing provision.

Contact us on 01243 786668 or at info@georgeide.co.uk for more information about our personal injury services or to find out if our experienced team could help you or a loved one with a compensation claim.

Paul Fretwell. Partner, Personal Injury department.

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Despite the introduction of a new Inheritance Tax (IHT) allowance in 2017, as a result of increasing house prices and rising stock markets HM Treasury recovered more than £5 billion in death duties last year.... The post Newly-announced Inheritance Tax review could offer real chance for change appeared first on George...

Despite the introduction of a new Inheritance Tax (IHT) allowance in 2017, as a result of increasing house prices and rising stock markets HM Treasury recovered more than £5 billion in death duties last year.

Under the current rules married couples and civil partners can inherit each other’s allowances – in total, £1 million of the couple’s estate can be passed on tax free.

But the application of the so-called family home allowance is far from simple. It only applies when a main residence is passed on to ‘close lineal descendants’ of the deceased. Exclusions include property held in trust and estates worth more than £2.25 million, while circumstances such as downsizing or selling a main residence to fund care home costs bring further complexities.

This government has commissioned an independent review and simplification of the existing IHT system. Abolishing the Residence Nil Rate Band, which is currently set at £125,000 and due to rise to £175,000 by April 2020, and increasing the Nil Rate Band allowance of £325,000 by an equivalent amount could still achieve the government’s pledge to introduce a £1 million tax-free allowance and also make the regime fairer for unmarried and childless beneficiaries.

At the same time it is hoped that consideration will be given to a long-overdue review of the annual gift allowance of £3,000, which has remained static now for more than three decades. Individuals can make larger lifetime gifts known as Potentially Exempt Transfers provided they are made at least seven years before death. A much under-used exemption also allows annual gifts out of income, provided the gift does not alter the donor’s standard of living.

In many cases, beneficiaries inheriting from their parents do so in mid-life or later, when they are financially secure, so increasing and simplifying gifting allowances could ease pressure on a younger generation struggling both to repay student finance loans and to take a first step on the housing property ladder. This approach would help a family to pass their wealth on down the generations and allow parents and grandparents the pleasure of seeing their gifts being put to good use.

If you would like more information about Inheritance Tax and the potential implications on your family, or to discuss your individual circumstances in confidence, contact our experienced specialist private client team on 01243 786668 or email us at info@georgeide.co.uk.

Ursula Watt. Partner & Head of private client.

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The fate of the UK’s once highly-regarded criminal justice system appears to hang in the balance, threatened by unprecedented levels of cutbacks and years of under-resourcing. We need to see incremental improvements rather than the... The post Criminal justice in jeopardy – are funding cutbacks crippling the system? appeared first on George...

The fate of the UK’s once highly-regarded criminal justice system appears to hang in the balance, threatened by unprecedented levels of cutbacks and years of under-resourcing. We need to see incremental improvements rather than the constant paring-down that is jeopardising justice for the innocent and dissuading competent lawyers from choosing criminal law as a career path. This year has seen a spate of rape allegations collapse because of police and Crown Prosecution Service failures to disclose, until extreme pressure was exerted, information in their possession that supported the accused’s defence. Whether the evidence was deliberately withheld or simply not handled correctly due to a lack of resources, the result was the same – people were left with accusations of serious offences hanging over them for many months and the only thing that stood between innocent people and lengthy imprisonment was a high-quality legal defence team.

The media has had much to say about the fate of a burglar in Kent who was stabbed by the owner of the house he chose to burgle. The home-owner, Richard Osborn-Brooks, was arrested on suspicion of murder and would have had access to a duty solicitor at the police station to advise him and to argue his case, with the result that he was released without charge and without delay. Indeed, the Law Society considers that duty solicitors play a vital role in protecting suspects from inappropriate treatment and shielding the police from false allegations of misconduct.

Provision for duty solicitors was made by the Police and Criminal Evidence Act 1984, which defined the role in response to incidents of serious abuse that had led to wrongful convictions and a series of successful high-profile appeals. However, fewer and fewer young solicitors see working in criminal law as a viable career as a combination of limited pay prospects and poor conditions means criminal law is simply not an attractive option for solicitors – these are not ‘fat cat’ lawyers but skilled professionals who are there to act on our behalf and protect us when things go wrong.

Our criminal justice system is creaking, and it seems to me that it is close to collapse. In the not-too-distant future, will another Richard Osbourn-Brooks have to cope without a state-funded solicitor to turn to for advice?

For more information on legal matters or to discuss your individual circumstances, please contact the George Ide team on 01243 786668 or email us at info@georgeide.co.uk.

Ian Oliver. Partner.

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As a society we have used insurance as a method of transferring or distributing risk for centuries – UK property insurance can be traced back to the aftermath of the Great Fire of London in... The post Insuring risk is a two-way affair – accuracy is essential when it comes to filling-in policy paperwork appeared first on George...

As a society we have used insurance as a method of transferring or distributing risk for centuries – UK property insurance can be traced back to the aftermath of the Great Fire of London in 1666. An insurance policy provides protection from financial loss: premiums paid by insurers’ customers are pooled to establish a collective fund that pays for individual losses.

But it is worth remembering that insurance is based on good faith and fair dealing, which means that the consumer who has bought the policy has a duty to disclose all relevant information and must avoid concealment or misrepresentation.

When setting a premium an insurer will assess the risks involved – the questions asked of you when you apply for a policy are a cornerstone of that risk-assessment process, so you should answer carefully and accurately to help your insurer assess the risks properly. If you do not comply with this obligation your insurer is entitled to cancel your policy or refuse to pay your claim – and you will have lost all the premiums you have already paid.

As a personal injury solicitor I see more and more instances of insurers being able to prove a claimant materially misrepresented the facts when they applied for their policy. In such cases, insurers are more than likely to refuse to indemnify policy-holders for their losses and for third-party losses. This could amount to significant sums of money and could even put a policy-holder’s assets at risk.

With all this in mind, it is a good idea to take a really careful look at the information you give when you next apply for insurance cover or renew a policy. Ensure all the details you give are correct and current, try not to guess the answers and whenever possible check the true facts before proceeding.

With modern life moving at such a fast pace it is easy to make mistakes, especially when you are in a rush – but it is wise to make the time to answer your insurer’s questions accurately, and read the small-print carefully so you can be sure the cover on offer is sufficient for your needs.

For more information about personal injury law, to find out how we may be able to help you or a loved one, or to discuss the details of your claim contact the George Ide team on 01243 786668 or email us at info@georgeide.co.uk.

Claire Watson. Partner & Head of personal injury

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If you are injured at home in your rented accommodation and your accident was not your fault you may have grounds for a damages claim. As the occupier of a property you do not own,... The post Claims for injury caused by poorly-maintained accommodation appeared first on George...

If you are injured at home in your rented accommodation and your accident was not your fault you may have grounds for a damages claim. As the occupier of a property you do not own, you have limited rights and obligations to effect necessary repairs. Although a responsible landlord will have made sure the property is safe before your tenancy begins, we are often asked to assist clients who have suffered injury because their rental accommodation has not been adequately maintained.

Of course, not all hazards are immediately obvious to new or prospective tenants, as was the case for a client whose electricity was metered. Notwithstanding our client’s repeated complaints pointing out that the meter had been placed out of the average person’s reach, no steps were taken to remedy the position. Unable to reach the meter safely, she became reliant on a helpful neighbour who was able to climb up and pay for more electricity when it was needed.

However on one occasion her neighbour was unavailable and our client was forced to feed the meter herself, resorting to standing on a chair in order to reach. Because of the meter’s precarious positioning – on a landing, at the top of some stairs – it was perhaps inevitable that she lost her balance and fell off the chair, down the stairs. Despite a robust denial of liability from the electricity company who had installed the meter, we were able to make a successful claim on her behalf to recover compensation for her injuries.

In another case, when viewing a potential rental property our client’s husband stumbled on stairs that were dimly lit – in addition, the bottom step was covered in a floor covering matching the wooden floor below, giving the impression to someone walking down the stairs that they had reached floor level when they had not. Although he pointed this out to the landlord’s agent, for aesthetic reasons the floor covering on the bottom step remained in place. After moving in, our client was walking down the stairs when, believing she had reached the floor, she stumbled and fell from the bottom step, fracturing her wrist in two places. Liability for the accident has now been conceded and we are pursuing our client’s injury claim for damages.

If you have been injured in an accident that was not your fault, or would like more information about making a personal injury claim, contact the George Ide team on 02143 786668 or email us at info@georgeide.co.uk.

Garry Sleet. Personal injury department

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