There is no doubt that strong feelings abound when it comes to non doms.  There are regularly headlines concerning the status of certain people and how much tax they are paying as a result.

Up until two or three weeks ago we were not quite sure where the new coalition government stood with regard to non doms.  But towards the end of June those in charge agreed they would review the laws surrounding how much tax non domiciled individuals are currently paying.  The government wishes to ensure that everyone is paying their fair share towards UK coffers, and as such the current laws could be in for some changes.

Labour introduced the current £30,000 levy on non doms, but this has been deemed to have had limited success.  I have noticed much controversy over the Labour ideas, which now seem set to change under the new government.

One area I have been paying particular attention to in the news over the past couple of years concerns the state of various private pension funds.  As time has gone on it has become clear that the deficits being experienced by these companies have only got larger.

This is why I was interested to read about the unusual steps taken by one company in particular, to try and close the gap it has in its own private pension fund.  The drinks group Diageo has focused on using barrels of whisky to help make the gap smaller.

This is an innovative solution that has been agreed to be used over the space of the next fifteen years.  The idea is that the whisky will be used as an asset and its value will be used to reduce the amount of the deficit the company has in its pension stocks.  The company has also come up with a plan to add more in the way of funds to the pension plan over an extended period of time.

We’ve seen the British car industry go through some hard times in the last couple of years.  The recession has harmed a lot of industries and businesses but the government has arguably supported the car industry more than many others.

But I read recently that things are about to change.  With the heralding of the new coalition government we will see many things changed from the way they were under Labour.  And one such change looks to be how the car industry is supported by the government.

Mr Cable has stated that he is not “walking away from the industry”.  But it has been made clear that financial support will not continue in the same way it has done in the past.

The UK Insolvency Helpline has a very important task on its hands – particularly in the current climate.  The recent recession has left many people in dire financial straits, and for some the only way out can be bankruptcy.

Of course this is a major decision and move to make.  Thus it is very important that you have exhausted all the other options before you go for this option. 

This is why I was delighted to read the good advice given by those at the UK Insolvency Helpline on their website recently.  I fear that some people see bankruptcy as the easy way out, when in fact nothing could be further from the truth.  Even if you feel there is no other way out of your personal financial situation, you must make sure that you have got all the information you need to make the right decision.