benjaminfabi
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It sounds like you haven't given advice on Policy B. Therefore, if you take a fee from Policy B to pay a charge in relation to advice on Policy A I'd say that's unauthorised.
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Thanks, Les.
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@les_cameron said: Note your 2018 event has a transitional default tax free amount higher than the actual tax free amount paid. But if you asked for a certificate you'd be worse off (as the actual lump sums paid is higher than the transitional de…
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Hi Andy. Transfer to SSAS is auto amber flag in the (not so new anymore) regs. No ability to shortcut requirement to proceed to Moneyhelper call, which itself is then a box tick for the ceding scheme. Just give them the appointment reference numb…
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Thanks Les. I think I will suggest taking £180k of PCLS now, just to leave enough LSA for the SSPTFC in case it gets 'ironed out' when they resolve some other drafting errors! It would be a horrible situation to take the balance to £312.5 and the…
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@DC01 said: Thanks for the guidance! I appreciate it! I have now passed, AF1, J02, AF4 and J10 and am now working on AF8 i'm glad I didn't try and double them up... Excellent Dan, great to hear your success.
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Ah thanks. I don't do social media so not available to me then 😢
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Hi, In the webinar there was mention to lots of new tech content being up within a day. Is there a link to the updated articles?
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Is it also the case that if you are investing via a B-Corp certified DIM then you'd be okay? EG Tribe Impact Capital and EQ Investors are both B-Corp status DIMs, so it would be harsh if investing through their portfolios threatened your own stat…
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Prior to April 2024 includes all pre-commencement pensions though, eh? Everything pre-2006 was also pre-2024.
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Having just skimmed the draft legislation, I'm interested to know whether the "transitional tax-free amount certificate" mentioned in para 125 and then defined from para 127 onwards is intended for this situation? I don't have time to read it in…
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If she is only 57 you can also start to use PET via assignment as a strategy for reducing the estate. The segments are decent sizes for gifts
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You don't say how old she is. Mortality may play a role, although it doesn't seem like she will ever run out of money. Sounds like she needs c£90k pa from the bond. The 5% allowance on 500 segments is more than double what she needs, so I'd proba…
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Gilt portfolios are very good for short-term laddered liquidity, particularly for high earners, as almost all the return comes from capital gains, which aren't taxable.
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BTS is good. BrandFT stuff for AF4 is also tried and tested, especially the calculations workbook as it applies to J10 and J12 too (which you should consider doing one or both of at the same time for more points from the same syllabus).
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Ditto here for most of my planners. They will inevitably talk about the markets as part of the annual meeting, with notes, but the tolerance questionnaire is not more frequently than 3 years.
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Thanks Les
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Thanks both. So in my example, if the member hasn't had any previous bce he can take the entire £387k pcls tax-free, as the first slice of his lta under a bce6, with the balance crystallising into fad as bce1 with no lta excess charge?
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Ah okay thanks. So it's worded as a removal of the income tax exemption currently given to beneficiaries of a bce5c/d. I had read the draft legislation from start to finish more than once and didn't see it referenced, and clearly didn't pay eno…
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I read the legislation draft and recently said this to another person... In 637U of the draft, paragraph 3 states that: If no relevant benefit crystallisation event has occurred in relation to the individual before the current event, the …
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I heard it described as 'hyper charged autocomplete' in a youtube video discussing what the current AI really is. Basically, it is searching the entire of its database and picking the next word one word at a time. Iteratively, it will get better …
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Hi, The issue I think is less with the tax on the surrender and more with the IHT consequences of the gifts. Effectively, in your situation, the gift from one spouse to the other wouldn't be exempt as it is conditional on them being given the mon…
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Hi, The basic rate band gets extended by the amount of any grossed up pension and charity contributions. Relief at the higher rate is given on all income. It doesn't matter how much you extend the band over what income they have, because the c…
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I think that's the best way. The rules on all this are very simple. Unless you're in DB transfer world, there is very little in the way of prescriptive content for a suitability report. As Gareth says, clear and fair.
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The basic regulatory approach to this is first contained in the FSA thematic review into the quality of advice on pension switching, from way back in 2008. In it, you will find the following key wording: We assessed advice as unsuitable when the …
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Hi, This sounds like a very complicated situation and more information is needed. Yes, you can assign segments of a bond in trust to a beneficiary and the tax position is assessed on them (settlor living doesn't impact this). However, if the '…
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Hi Kelly, That is the whole market! It's not very competitive.
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Hi, My experience is that the third party material can be a very good supplement to what you get from the CII/PFS. If it wasn't aligned to the syllabus then the businesses would have failed years ago. Brand FT Wizard Learning Bespoke Trainin…
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Hi, The investment bond is a long term insurance contract and has 100% protection with no cap. The deposit account is subject to the £85,000 cap per individual but Beryl's claim is limited by her share of the joint ownership, which is £55,000 (i…
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I thought death benefits are all effectively treated as occurring immediately prior to death? The test doesn't happen until they are paid, but the the test is done as at date of death. This avoids timing death benefits from different schemes to mani…