benjaminfabi
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Hi, Q7 https://www.pruadviser.co.uk/knowledge-literature/knowledge-library/discounted-gift-trust-qa/ It's never straightforward to end a DGT during the settlor's lifetime. If it was only set up six years ago I'd be looking at the suitabi…
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Hi Aron @Nathan is spot on. You should have a disengagement process as Nathan describes for clients like this. Especially if the reason is that the client does not want to do it.
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Hi Andy, I don't. My terms of business make it clear that I am not regulated and I have no regulatory liability for my work.
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When they have all the elements I do them manually Kim.
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Hi Jon, There are rules for suitability, in COBS 9, and also good practice on replacement business in FSA FG12-16. Compliance with them however is highly subjective. If you have a requirement for an O&M report on all business-as-usual pens…
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Yes you do have to complete a taper calculation for each year it's been in force. The fact that someone could have made contributions but didn't won't stop them being tapered if adjusted income was above £150,000. The maximum carry forwar…
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Yes. Potentially you need to go to current tax year minus 6 to work out carry forward availability. It can get complicated.
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Hi, PFS Fellowship is based on 350 credits. 290 of these must come from attainment of the advanced diploma. I did AF4 and while I was waiting for the results I took J10 and J12. 70 credits all for the same syllabus, plus as you say, J10 is a D…
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Hi, I produce estimated ex-post and ex-ante figures for EIS and VCT in the same way as I do for all other investments. I have my own methodology to produce these disclosures in a consistent format (even if platforms are sending out their own).…
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The rules on triage that came out of FCA PS 18/20 effectively killed that SL process (the document is still available in this thread). It was designed in a world where a recommendation to retain DB wasn't a personal recommendation. Looking at it now…
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Nice one thanks @richardgough
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Agree with @AndyRichards and @Suse1969. I have the following components in my SR table: Adviser initial Adviser ongoing Product initial Product ongoing Investment initial Investment ongoing Obviously they're not all re…
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"We have an adviser who wishes (for some reason) to transfer a clients single line equities onto a platform to be held alongside the funds we run for them." 'For some reason' isn't going to read well in the suitability report. Especially giv…
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I trialled it. I liked the way it described the output as a narrative. Very SR friendly. I felt it fell a way short of the functionality of cashcalc though and was nothing close to Voyant. One to watch but not there yet for me.
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Hi, You can't take more than 25% of the value of a DC fund as a PCLS (unless you have transitional protection). Some DB schemes have additional voluntary contributions (AVC) schemes (which are DC). Some of these DB schemes will allow a member …
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Check out the Just website. Loads of useful information to be found there. https://www.justadviser.com/
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Hi, I've stopped trying to get Voyant, or any cashflow, to calculate future service. I always now work it out/estimate it myself (or use TVC system) and give the future income value to Voyant at the relevant age. Here, you need to work out whi…
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That was my first thought if they were two distinct transactions without formal agreement. I presume Canada Life will decline to comment on the SDLT issue? Having looked again this morning it seems that if there is no mortgage at the time of the …
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Have their been two transfers? ie a gift of £500k from A to B, followed by a gift of £900k (in the form of a half share of the house) from B to A. If so, then these are possibly two separate PETs. Or, has there been one transaction? ie th…
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I feel like there should be a competition for the most ridiculous sentence in a report. Maybe not for a public forum though
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Hi Sarah The individual member won't have a tax liability on the income and gains in the UK as the assets are owned by the trustees of the RATS. If the RATS has UK and Guernsey approval (which is likely) then it should operate for tax relief in t…
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Ah perfect. Thanks for posting this.
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Your second statement is correct. The unit price by definition has to take into account all actual charges that have been paid. The OCF, TER, OCF Ex-ante etc are just variations in the calculations to report them. My interest is in the technical …
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Advisers will need proof from 10 March 2020 that the Trust has been registered before it can do business with it, but it's not clear what will happen with Trusts that haven't registered but are still within the deadline - I imagine you'd have to tel…
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The way I read it Richard, my wife and I will need to register the express trusts that hold our life insurance policies before 20 March 2021. Obviously we're registering them as the respective trustee. If I see an adviser, then as long as they ar…
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City Trustees/Mattioli Woods especially if you need borrowing they've had decent service from a couple of my advisers clients
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This is a great post! I never use however in the middle of a sentence to separate two clauses. I would use but, or a full stop with however to start the next sentence. I feel like however should be preceded by a semicolon and not a comma. It's…
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Congratulations Eleanor.
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Hi. How quickly? And where are you pulling the source data from? I have a process that uses a custom table from FE. It's still a bit manual, but it produces output like the attached picture. Happy to chat about it, DM me if you like.
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Well if its a gpp it would be an employer's scheme? The results there show it as a RAS eligible contribution. I'm the same as you Richard and expect to be seeing £60 from net pay but literally none of the online salary calculators are doing th…