arongunningham
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- arongunningham
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Comments
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Isn't the whole thing tax free?
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Is the client Auric Goldfinger?
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Why do we, by default, think of Investment Bonds for Loan Trusts? Because it's a non-income producing product, right? Is it going to get untidy if you put the trust assets into a GIA?
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I don't think you need to do a critical yield calculation in any scenario? We tend to reference safe withdrawal rate data (i.e. 4% is deemed sustainable, but actually maybe not) along with cashflow forecasting and monte carlo sims. I would ref…
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The other broader issues (we've encountered and shown here, i think): We're using the real £ and p to show the client, and that's all good. But then we're dividing that figure by the end of period fund value to convert it into a %. The percent…
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I like it. Seems like an adviser would be encouraged to take an OAC from the platform rather than invoice the client for fees, so that you could just lift off this report and use it yourself?
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oh wow, that's pretty helpful!
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Thicko here: Are they referring to the disclosure of platform costs only? Or will platform costs incorporate what funds are held on it too? In other words, are we expecting similar disclosure from the underlying funds managers too?
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My understanding: IHT is payable on both the trust assets and the client's own assets. The trustees will be responsible for paying the proportion of IHT attributable to the trust assets. In your example, I hope the trustees are on her side …
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Oh I see. I think it was more settled on the thought that 'this is a charge against my pension, so I should pay it from my pension' rather than considering they could have paid it personally. But you're right, the annuity figure was pretty high s…
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Another call from Utmost: They're awaiting confirmation from their Lawyers, but it seems COBS 4.9 confirms that existing contracts cannot be changed from the position they were first agreed under (legislation can't cause an offshore contract to c…
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Thanks - this is what we suspect has happened too (the LTA position wasn't correctly disclosed). I've seen online that it's possible with DB schemes - but this wasn't one. I can't imagine HMRC like this method because if the client died before…
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Bingo! Thank you!
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Titbit: If an employer pays the contribution - you can use the same carry forward calculations but not be limited by 100% relevant earnings. Small business owners, for example, can/do benefit from this.
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Having spoken to Utmost this week (pre-7:50pm last night) they seems quite open to explain that they simply don't know what will happen - it's as unknown as the Brexit mumbo-jumbo itself. We are therefore thinking whether we should suspend offsho…
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Always have to be wary of someone who uses https://www.sipp-ssas-pensions.co.uk/ as their domain name!
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I would say that, unless it become obvious through factfinding, there aren't any specific questions in the process to help us determine if the client has a history of poor discipline with their finances. However, if they did, it would probably be…
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IO is what we use too. I believe the firm used XPlan before I started but it was so bad we dropped it almost instantly. Having Document Designer to store and edit templates for our reports is a big plus point for IO imo.
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35 multi-response is a bit steep (those questions are easily wrongly answered)
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I contacted ThreeSixty about this and they said: "RL360 has no regulatory requirement to stop this payment, and looks to be doing so for commercial reasons. The only way you could challenge this would be on a legal standpoint, based off the contr…
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All Risk Profile wording goes in the main body of our reports.
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yeah but I think you still should illustrate the impact of the scheme paying instead
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It's one of the most complicated things you can do as a Paraplanner (IMO). I've recently done an opt out report for someone in 2 sections of the TPS with historic, current and future AA and LTA issues... blooming nightmare. And I also found no…
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https://www.youinvest.co.uk/sites/default/files/AJBYI_Guide_to_annual_allowance_tapering.pdf This is what I was referencing in my last message. My real-life calculations resulted in the same determination.
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actually, no @benjaminfabi it doesn't make sense! It's not 33% of all the money in the equation, it's 33% of the increase in adjusted income (i.e. salary). £120,000 salary equals maximum employer contribution of £36,667 £130,000 salary equal…
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oh yeah! Thanks @benjaminfabi makes sense now!
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Thanks @Jona On the heading 'maximising pension contributions' you can see for every £10k income increase, the amount you can pay in decreases by 33.33%. I just wondered how that's the case, mathematically! My stupid brain won't let it lie. …
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it's all employer - hence it increases their Adjusted Income for Tapering.
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The actual figures are: £4,334.80 - income increase means that £1,445 - employer decrease in contributions
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@Andy_Schleider said: @arongunningham said: So our templates are auto-generated by IO's document designer. I had real problems with this. We are with SimplyBiz and used to use the facility in IO but now have to …