Wildparaplanner
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I'm in agreement with Andy, if an adviser can't see the reasons behind a drawdown case being more work than an ISA switch, then they're either testing you (which is unprofessional) or they're trying to get you on the cheap / will cause you issues in…
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Interesting to see what people are saying here. Essentially, without tearing up the relevant property regime legislation, you are left with only a handful of options which I can't see being as administratively cumbersome: 1) Abolish the tax-fr…
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According to the ONS, in 2022, there were 167,266 registered deaths for all under 75s, with 395,906 deaths for over 75. Source: https://ons.gov.uk/peoplepopulationandcommunity/birthsdeathsandmarriages/deaths/articles/deathregistrationsummarystatisti…
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> @les_cameron said: > Pensions are not exempt from IHT they are treated the same as any other assets using general IHT principles. > > The settlement is specifically exempt from entry, periodic and exit charges. That’s the only …
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we use research from threesixty (with additional overlay by the firm) for the above
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There have been a few queries at our firm, but as history tells you, if you make rash decisions on speculation or summary comments made in a budget speech that have yet to make legislation with all the detail attached to it, you risk putting yoursel…
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@GolfPutt21 said: Are we saying this is a potential area of concern as an adviser? I would say you need to consider the following points: 1) Did the client who has now lost capacity shown a history of making gifts and/or has conducted …
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Pretty sure that paragraph is referencing the ability for her funds to be able to be managed by a dfm. It DOESN'T say it HAS to be. What are the client objectives? If the money is needed to pay for care home fees (for example) then it's possibl…
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I'm not aware of any existing, but curious to know what objective you're trying to meet by such a policy?
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does anyone know if the formula got fixed in the legislation or if this is still outstanding?
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Thanks Les. It was just standard enhanced with no protected lump sum
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In this case then, given they had used 100% of the LTA pre-April 2024, there's no impact essentially?
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Not sure, but would having an execution only process in place be appropriate? That way, you give the client the choice: 1) Do you let us advise you on the best place for a withdrawal, which may take a bit more time, but may benefit you in the …
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https://www.cii.co.uk/learning/support/cii-study-texts/ If you go here and log in to your account, you have access to all CII text books (albeit it will be the 2024-25 edition now)
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@richardgough said: Referring to my Financial Planning with Trusts book (Wooley/Banner) then an IPDi does create an IIP (for tax) - as we would expect. Assuming the trustees have not mandated the income then the trust is liable to 20% (savings…
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As it says "after allowances and deductions", i would presume this means after the personal allowance and maybe the personal savings allowance has been considered, meaning he is over the higher rate tax threshold. Therefore whole gain of £7,500 is t…
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My opinion is that surely it wouldn't, as there is technically no safeguarded benefit being given up as they aren't entitled to any? I'm sure someone with more knowledge and understanding than me will set the record straight though...
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Wouldn't TAR only apply back to the point they actually owned the bond? i.e. from 16/02/2021? Or does the fact it is a pre-2013 contract mean different rules?
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Unless there is the ability to reverse the winding up of the previous trust (unlikely), then looks like it won't be possible. Not sure if a child can contribute to their own Junior ISA? I've only ever dealt with cases of the parents/other family …
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Agree with the above comments, only use it as a filler for going to chartered, by which point your career might have taken a new angle
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The main annoyance we have found is the fact that KIIDs don't show MIFID II charges and just the OCF, but illustrations from platforms will generally show MIFID II charges, with a large amount of time, the OCF element not matching the KIIDs. You …
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my understanding is there aren't any currently - think they've fallen out of favour with providers given their cost to run and overall complexity
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what was the answer out of interest?
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With mine - i laid out some assumptions in the appendix, including tax year assumptions as well as legislation assumptions. I passed so i never got any direct feedback on whether this was appropriate or not. For example, at the time, I said that …
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Just watched the assembly link. Good stuff. Few questions I've got and hopefully the guests will come back: Jonny - what do advisers do in face to face meetings, are they taking a voice recorder in to the meeting with them? I take it the softw…
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thanks both, will take a look
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How are those AI programs helping you work?
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think it's random and based on marker capacity. When I submitted assignment 1 just before Christmas 2021, i had a mark back in 2 weeks, the other assignments in early to mid 2022 took the full 8-9 weeks.
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Assuming the scheme will in fact annuitise half of the drawdown pot. Once that lifetime annuity is established, could you then fully transfer the remaining drawdown pot to a fixed term annuity contract?
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Thanks - I did read this as well From the practical point of view then - The client we are looking at has a Royal London flexi-access drawdown fund - we want to use half of this fund to purchase a lifetime annuity (which when comparing at the tim…