Jona
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It's taxable as a business isn't it - so allowable deductions can be claimed in arriving at profit. Client must be reporting this via Self Assessment so what figure does their last tax comp give as profit. Is that the figure to start with?
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Great - so for people on such circumstances (where GMP bridge / state pension deduction exists) they luck out (in LTA terms) if first BCE is after DB scheme income drop.
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Here it is - https://www.pruadviser.co.uk/tools-calculators/about-collectives-v-bonds-calculator/
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Didn't Pru have a calculator for this - comparison of UT v On Shore v Off?
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Is this for a CGT calc? The client will have a share base cost as at the date of the father's death - which may be considerably more recent than 1942.
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Sorry; it's the way Trusts have to deal with the taxation, differing between relevant and non-relevant property trusts. Distributions from discretionary Trusts to minor children is most likely to be effective via the offshore route via assignment…
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@arongunningham Tax treatment and reporting.
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We dont include voyant in the report. Voyant is used in adviser / client meetings to drive discussions, educate and prioritise (i.e. financial planning). The report is just dotting the I's and crossing the T's on which product, fund, funding lev…
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Andy Hart runs independent training for Voyant - https://www.thevoyantist.com/ Voyant themselves will will also provide good training if you buy with them.
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AF7 - If you are already doing TVAS/TVCs and understand what's going on behind them - you'll be fine on that section of the syllabus.
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Similar to Nath. Aside from some quick to download valuation and performance reports we focus on getting Voyant into the best shape possible before the meeting and let the adviser do their magic during it. This includes a review FF confirming objec…
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Yes - if they are talking about an increase to the level of pre SPA benefits then that carries a cost to the scheme in securing those benefits for the member and that is therefore a PIA.
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What is being "levelled"? Are they saying you can level tranches (pre / post 97 / 04 etc) so they all increase by the same amount in payment - as presently some may escalate at different rates? From that perspective I can see why it would be a…
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@richardgough said: Its entirely possible that your situation arises from Wills drawn up prior the introduction of transferable Nil Rate Band. Indeed!
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If the Trust is discretionary then the house isn't passing to a lineal descendant so will not qualify for RNRB. If it's IPDI and spouse has life interest and remaindermen are direct descendants then it can be claimed.
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AJ Bell, Transact?
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Second Utmost
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The paradox of QE?
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It also says: "In order to qualify for exempt intermediation, an adviser would need to clearly evidence to HMRC that there has been customer specific interaction between the adviser and the product provider in relation to the sale of exempt produ…
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@arongunningham but stage 5 does not occur (4 may occur via the APTA analysis) as there is no arranging a sale of an Retail Investment Product????
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Yes that is what they are doing (plus other kids) - was just thinking around the availability or not of 2 x years of annual exemption to knock off the value of the PET when the gift is made.
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Thanks @richardgough Very much a Monday brain yesterday - your synopsis is far more logical than my assumptions.
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Nice - every day is a school day!
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@benjaminfabi Believe me I have challenged them. Very much a reinforced concrete wall that my head keeps on meeting. I shall persist!
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Spare a thought for us lot that don't have this freedom to produce sensible and client friendly reports and are bound by our networks paranoid compliance team that insist on letter of the law and own bottom covering reports. Nice problems to have!
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Well said @benjaminfabi
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I agree this Dan and Aron too. You are moving from one accumulation product to a decumulation product. Albeit our - large national - network takes a different view (which I find odd given the pedantic stance they take on a lot of things) So w…
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@benjaminfabi Ahh yes the CII library - not used it much but might take a more involved stance with it.