After the Event Insurance

Posted by admin on Aug 23, 2010 in Savings | 0 comments

Maybe you have heard of the no win no fee agreement that people in England and Wales can use when they file a accident claim.  It could sound like there are no fees at all to be paid when actually it does not mean that.  The Conditional Fee Agreement protects the unsuccessful claimant against having to come up with money to pay the lawyer. But, it is the losing party that pays the costs of the winner.

The reasonableness of any of these costs are not something that the court will assess and these fees can certainly be substantial.  As a protection to this liability, the solicitor will advise the claimant that a certain type of insurance can cover this type of condition.  This insurance is called After the Event insurance  and the cost of this insurance will depend on the facts that come with the case.

This insurance must be purchased at the beginning and if the claim is successful, that cost will be recoverable.  As the claim progresses, the client must pay the costs that are part of the claim and this is known as disbursements. This could include things like, court fees, medical records and the fees for a medical expert, if one is needed.

Open An ISA Every Tax Year

Posted by admin on Feb 24, 2010 in Savings | 0 comments

If you have been putting off taking advantage of your yearly ISA allowance, you really should make the effort to open one in the upcoming year. You’re only allowed one ISA account per year and once the year is over, you’ve lost that ISA forever. And, passed up your chance to earn tax free interest payments.

Even if you don’t expect to be able to deposit the full amount that is allowed each year, you should still open the account. Some providers require very little to open an ISA and you can even have it set up so that a certain amount is deposited each month. The main thing is that once you open the account and keep it active, it’s tax free indefinitely.

One of the main reasons that it’s a good idea to take advantage of your ISA allowance every year is because it will always be there. While you may not be able to deposit the entire yearly allotment now, you may be able to deposit the entire amount during another tax year.

Anyone that lives in the UK and is 16 or older can have one ISA each year. With a standard savings account you’ll have to report any earnings and pay taxes on those earnings. But, you will never need to pay taxes on any of the interest that you earn from an ISA. It is important if opening a cash ISA that you research the best cash ISA rates.