TomLloyd_Read

Hi Stacey The lady that co-ordinates the Qualification Mentoring Scheme is Gemma Warren - Gemma.Warren@cii.co.uk. Good luck! Tom

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  • Thanks both, that's how we are now trying to proceed. Still haven't got a resolution but getting there.
  • This may not work quite how you want it to, but the reverse tax calculator is always useful (you can change the tax code to account for the state pension). https:////uktaxcalculators.co.uk/tax-calculators/personal-tax-calculators/reverse-tax-calc…
  • I would agree with the second paragraph above; I sat on a roundtable discussing this a few years ago and all advisers at the table recommended DFMs and only a couple said they charged VAT on their advice fees, which appears to be wholly incorrect. C…
  • Yes, ReAssure issued broadly the same letter when we were trying to to transfer a PP into an existing SSAS. There wasn't even an intention to invest in property but we disclosed the SSAS held property. Weirdly SJP did not ask the client to attend a …
  • The DFM specific HMRC legislation is here https://www.gov.uk/hmrc-internal-manuals/vat-finance-manual/vatfin5800 All of the legislation is here https://www.gov.uk/hmrc-internal-manuals/vat-finance-manual/vatfin5000 The MPS bit seems to b…
  • I looked at Insignis a few years ago so not sure how much has changed, but that seemed a slightly more proactive service compared to Flagstone. It is also approved by some SIPP providers (Curtis Banks mentioned it). There was also certainly the opti…
  • Having just sat through the fabulous (in case Les is reading!) M&G presentation, I don't think there will be a difference. If they had protection of some sort then under the proposed rules, they'd be better off waiting until next year as they wo…
  • There is no rule you have to include it in a suitability letter, although clearly it will impact your advice. We have removed the old comparison tables from our reports but mention the comparison as either rationale for the transfer if cheaper, or …
  • This has been in the news recently and HMRC are investigating. The scheme promoted by a number of tax advisers (doesn't) work where Mr A creates a new B share class in his company, which only contain rights to special dividends. Mr A sells the 1 B s…
  • I've not done any DD as it isn't really something we do much of, so just some general comments about recent experiences. We do have a couple of clients with SSAS, and the administrators of both seem to be pretty good. One has recently moved to Intru…
  • Not sure if there is a central source, but if you contact Utmost and CLI they will usually send over details of the current deposits available. There will usually be slightly different options available for the respective Dublin and IOM versions so …
  • We use the FE one which can be pretty much tailored. If you don't have access to FE, or a similar paid for service, then I suspect you might have to build you own? Fortunately, there was a thread back in 2018 and there are two or three spreadsheets …
  • Canada Life and Utmost both have tech teams. Don't know about calling but they have always been quick at replying to emails.
  • Hi Wild Yes, run a search on "fund filter". I'd search on the FCA Recognised Offshore Funds universe and in factsheet characteristics section, add Euros in the currency section (select Euros and hit the plus button). You can then filter that down…
  • Hi Steve I did J10 a couple of weeks before AF4 as I felt that doing J10 would identify any gaps in my knowledge for last minute AF4 preparation. Passed both relatively comfortably so worked for me. I stupidly didn't do J12 at the same time thoug…
  • Can't offer any alternatives but I have set up and used Genovo in a couple of firms and recently had a trial of ATEB. Both are relatively easy to personalise, have good technical content and the reports look good. The fact we didn't have to update t…
  • Apparently so, according to something I read but I can't recall where, sorry!
  • Hi Andrew I don't think there is anything to prevent you advising overseas clients who are UK resident, so you probably won't find any legislation. Clearly there are issues around non-UK resident clients, although the things I have read are mo…
  • Hi Pietro I've been in the role in a couple of firms now and would say the responsibilities really do depend on the firm you work for. You can probably trust the job description as I have found the manager roles are far more clearly defined than …
  • @SimplyParaplanner said: Wow, makes you wonder how Abbey Life had financial trouble with charges like this! Because of the massive commissions they would have paid their sales force I guess!
  • From the horses mouth (well, ChatGPT's!) No, ChatGPT is a tool that can assist paraplanners in their work, but it does not replace the role of human paraplanners. Whilst ChatGPT can generate text based on a given prompt, it lacks the ability to u…
  • Also interested in this as we are doing the same. We also use VC (not sure if we need this with Xplan?) but if anyone has any insights in to the other integrations that would be useful - currently using Voyant/FE/Finametrica/Selectapension and proba…
  • Have a look at Carla Langley's courses, I've done both DB courses and the SL course and they are excellent and well worth the cost. Last SL course for 2022 is tomorrow so maybe too late https://langley-consultancy.co.uk/super-suitability-reports!…
  • Yes, that is correct, assuming it was a a discretionary trust. The settlor’s personal representatives will be responsible for paying any tax in the final tax return, but I believe they have a right to reclaim any tax they pay from the trustees (whi…
  • Hi, in the accrual section, you can use the "Other" box and put in the accrual as a decimal- e.g. the NHS CARE scheme would have an accrual of 1.85 (1/54 * 100 - I think this is what you have to do but don't have access to the system right now to ch…
  • It is technically correct as there is no intermediation between the adviser and the DFM (the DFM is a service, and not a Retail Investment Product). That said, many advisers are not applying VAT correctly where a DFM is concerned so it depends on t…
  • Bit of a grey area indeed. There is a reasonable argument that if the MPS is an exempt service (albeit some of the DFM providers I understand have self-certified as exempt), then the advice could also be deemed to be exempt. There is a review of…
  • To me there is very little difference for the client. Generally an MPS invests in lots of funds so you have a greater degree of investor protection, albeit that is probably not a major concern for most investors in vanilla UCITS funds. That said, w…
  • Is it is certainly possible to do, but requires a good study plan. I'd also caveat that with just having four AF papers possibly means you will need to get extra points elsewhere so in some cases you may end up doing three exams at a time. AF5 ca…
  • HI James For what its worth, in my previous firm we applied VAT to fees for AIFs (mostly initial fees for EIS) as I think we came to the the conclusion they they are not retail investment products so there has been no intermediation and no VAT ex…