PippaO
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Thanks Les for forewarning Mr McPhillips, he covered the query in depth, so that’s much appreciated. Basically the PTM rules are ambiguous but his interpretation is more along the lines of mine I.e the permitted maximum is simpky the member’s ava…
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Thanks Les. Good to know you're on the same page as the SSAS provider. I'm at the Technical Insight event in Leeds tomorrow so will see you there. There's a technical bod from Denton's Pensions presenting so I might ask him his views as well, es…
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Hello, Employer contributions aren’t limited to relevant earnings but together with personal contributions, are limited to the annual allowance plus available carry forward relief. Also must be deemed wholly & exclusively for the purpose of t…
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Hi, As noted above, since 6/4/25 the concept of “domicile” has been replaced by a “long-term resident” test for UK IHT purposes. In short, an individual will now have their worldwide assets within scope of UK IHT if they have been UK resident for…
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Thanks Richard. And Techzone is where I saw the periodic charge referred to as reduced to 3% by the 50% relief for qualifying BR assets… https://techzone.aberdeenadviser.com/public/iht-est-plan/BR-consultation-rolling-£1M
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Thanks Les, I thought that might be the case. If I’d never seen a GIA/collective facilitated with a DGT before there must be a reason!
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Great, thanks for confirming Les
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Note - ceding scheme is a PP, also with discretionary powers, not a RAC or S32
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Thanks Tom, that's really helpful
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Second question related to this. Can life assurance premiums for a WOL policy earmarked to pay IHT, qualify for the gifts out of normal income exemption? I thought I'd read somewhere that this is not the case, where the life assurance policy was…
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Thanks Richard
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Hi, Some useful reading here in the insights > white papers link. https://masecoprivatewealth.com/whitepaper
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Hi Ben, Not come across this situation yet and a search doesn't reveal much written on the matter, however I did find disqualifying pension credits referred to in this link from Royal London from 17/01/24. https://adviser.royallondon.com/techni…
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Thanks for your response Les, as always much appreciated!
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Formatting's gone out of whack above and confused the hell out of the numbers. Here we go 23/02/2016 Amount crystallised £366,076.61 PCLS taken £91,519.15 LTA £1.25m, LTA used 29.29% 23/02/2016 Amount crystallised £26,706.07 PCLS taken £6,6…
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Thanks Ben, agree a lot hinges on the client's view of tax. Unlikely to surrender the bond during her lifetime& will meet her spending needs. So choice between deferring tax or (possibly) reducing potential burden on beneficiaries. She is 57, g…
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Hello Newbie, I entered the Paraplanning profession 12 years ago, in a similar position to you, as a career changer, I was 35 at the time with no background or knowledge of financial planning. It was the skill set of a Paraplanner that attracted …
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Thank you Tim, very helpful!
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Hello, For anyone still reading this thread, Andy’s & Tom’s comments above are pretty spot on and reflect my own experience. Just to add a few points… It takes a special kind of skill to become a people manager. When I started out, I fou…
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Hello 😊 Massively late to the party on this one, but I’d love to be added to the wait list should a space on the group become available. Co-manage a team of 13 paraplanners as well as some trainee planners & would love to learn & share…