Calvert76

About

Username
Calvert76
Joined
Visits
141
Last Active
Roles
Member

Comments

  • Totally a thing for clients who retired some years ago. Used to have a few clients where State Pension exceeded personal allowance leading to a k number tax code
  • Thanks all, this is interesting- I admit I am rusty on DB with my original exam being G60! I get my calc is not the full way of calculating it, but if I have all the other data points except commutation factor algebra should mean I can reverse…
  • Aah, I wasn’t basing it on max tfc - I was just making up some illustrative figures for working out commutation factors. You don’t have to take max tfc you know!
  • > @PPWow said: > Hmm I'm not sure about that? If the full pension is £20k p.a., reduced pension is £15k p.a. and commutation rate is 16, then the tax free cash would be c£94k (not £80k). Interested how you make £94k? Commutation rate sh…
  • Interactive Investor have a flat-fee SIPP which is good for self-trading.
    in DIY SIPP Comment by Calvert76 March 2
  • Not sure if you are overthinking it? If you know the pension given up I always just divide cash by pension to get commutation rate. i.e, if full pension £20k pa and reduced pension £15k pa and tfc is £80k, £80k/£5000 (pension given up)= 16. Is that …
  • Hi Jamie, Agree it is a pain. Some platforms are able to temporarily hold the super clean share class for receipt of an in-specie transfer and then immediately convert. They can’t hold very long though and can only do it for transfer purp…
  • Thanks Simply, I have tried Transact, but it was a no. I think we will have to transfer to a cash Junior ISA.
  • Yes, I have! Took me an age to get my head round it... pm me your contact details and I can email you some info and chat it through if that helps. Catherine
  • As Aron implies it is probably that they mean the platform will reset the book cost, which will technically be correct as the parents will incur the gain and have to pay CGT on the gift on transfer and any future gains from the reset point will be t…
  • Thanks for your reply. I think it is our intention to transfer, we are just trying to work out any implications of no-one having been doing any Scheme reporting...
  • Sorry meant to say hasn’t been doing returns and to clarify employer is client’s own company.
  • Thanks all. The claim was against the adviser and yes, the ongoing charges are therefore still there. I will look into whether the member can purchase the asset. The assets in question were held directly with SIPP administrators so I don’t think …
  • Wow, thanks that is really helpful. It sounds like you spent a bit of time trying researching.  Certainly not worth paying £10k pa....
  • Thanks for all the great advice. It is certainly a fascinating area and one I will need to get more involved in.   The triage document is really good.  I wish it included a table for single clients too though as this is a main reason for considerin…
  • Thanks, that was my gut feeling, but the planner was very keen on getting an initial assessment...