TimMatthias
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Currently using 2.5% for inflation and wage growth, but also do a 10% inflation as a stress test.
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Will the pension withdrawals create a regular surplus income, which could be used to pay for WOL? Could they afford to make pension contributions for the beneficiaries, from the taxable withdrawals?
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Thanks for the replies and useful links.
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Thanks everyone.
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@benjaminfabi said: Presumably you are talking about putting the money into a trust arrangement that gives the donor the right to return of capital via the withdrawals? Otherwise, they will still own the asset and there's no deprivation? …
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Did they also mention that you get a free pen? Don't providers medically underwrite everyone based on age and sum assured irrespective of any health issues? I can't confirm 100% that your adviser is wrong, but I have never heard that they don't b…
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Where does your client live? Is it too late for the parents to set up the offshore bond in trust?
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@MB15 said: Following the drawdown review we use something that we found on Royal London, I can't remember off it the top off the head I'm afraid. But when you log in as an adviser they have a review service & Business tools tab. …
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https://techzone.abrdn.com/anon/public/iht-est-plan/IHT-business-relief-guide#anchor_3 Hope this link works. If not C&P of the relevant bit below: Replacement property If an asset which qualifies for business relief is sold, the relief ca…
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@richardgough said: Doesn't work. The £150k is a gift (PET); the legal agreement makes it a GWROB. Legal ownership, based on the legal agreement, makes it the donor's asset, so it is a taxable entity. An ISA cannot be owned by anyone other tha…
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@LWheel2003 said: When you disclose charges in your suitability report, do you include the fund transactional charges, or just the AMC. Sometimes when you put the TER it is a lot higher than just the AMC. I have always put in the TER, but my Ad…
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@Wildparaplanner said: what was the answer out of interest? That it will be a Non-financial foreign entity and therefore the Trust doesn't have to do its own FATCA reporting. I still think it would be much easier for everyone if we rep…
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All OK now. I have an answer.
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@TimMatthias said: @les_cameron said: No. The only legal thing you can do with the remaining uncrystallised funds is put it in to drawdown - and the income would be taxable and trigger MPAA. How and when did he crystallis…
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@les_cameron said: No. The only legal thing you can do with the remaining uncrystallised funds is put it in to drawdown - and the income would be taxable and trigger MPAA. How and when did he crystallise? Might be potential to squeeze out…
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@richallum said: The Worthstone portal allows you to filter based on those. @benjaminfabi said: Is it also the case that if you are investing via a B-Corp certified DIM then you'd be okay? EG Tribe Impact Capital and EQ Investors…
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My understanding is that any lump sum in excess of 25% of LTA is taxed as income, so the £268,275 cap would still apply to the whole fund. Can't see anything online to actually confirm this though, so looking forward to an expert providing a defi…
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Hi Pippa, Hope this will help. https://pjdtax.co.uk/updates/uk-taxation-of-us-pensions-for-non-us-citizens-and-residents/
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A couple of handy links: https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1174987/dmgch28.pdf https://www.ageuk.org.uk/globalassets/age-uk/documents/factsheets/fs91-pension-freedom-and-benefits.pdf
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@Wildparaplanner said: Hi all, We are looking to do a research piece on the smoothed return market. I am aware of Aviva, Prudential and LV= having smoothed return ranges (with the latter offering a different mechanism to Pru and Avi…
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Hi Peter, We switched to the Cashcalc fact find over a year ago. Clients seem to really like it and are happy to log on and fill in the information themselves. You can then create a cashflow forecast based on the fact find info. Just asked for…
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We use cashflow forecasting.
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Brand do a calculation workbook, which is well worth getting even if you opt for CII or one of the others. Online revision mate from CII is best for mocks in my opinion.
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@Gustavo_Fring said: Xplan and Voyant definitely integrate. You do have to make sure the quality of the data on the client record is accurate to make it worthwhile though. In my experience, quality of data on Xplan seems to be very hard t…
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@les_cameron said: Whether there is a point or not will be dictate what their objectives are. The whole employer contribution will be excess (I'm assuming no carry forward). They'll be suffering marginal rate tax (the AA charge) then marg…
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We use Compliance First/Simply Biz. They also do the file checks and regular webinars/events.
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Nath, Couldn't find anything that suggested this wouldn't work.
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@Sam_T said: Hi I would run a search on FE using the terms 'shariah' and 'islamic' - don't forget to search both UK unit trusts and OEICs but also offshore 'FCA recognised' providers. It may not bring up all of those that apply, but…
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It looks right to me, although I would rather wait for Les to confirm it. Looks like I'll have a free hour or so this afternoon, so I'll see if I can find anything to back this up.
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Chris, Hopefully this will help. https://www.gov.uk/hmrc-internal-manuals/pensions-tax-manual/ptm053200#IDAZ0WKD