richardgough
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Do you have a copy of the Trust Deed?
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Has the standard life pension money been paid out? If not, how long before the 2 years from client's death is reached? In respect of the institution the son is currently in, is this funded via Local Authority / NHS or some other organisation?
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The issue of" life of another" policies impacted by divorce can be resolved quite easily by way of transfer of ownership of the policy as part of any financial settlement. @seanhurst - In your post you say the clients want £150k on either death o…
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S32 transfer to another S32 - protected PCLS can be kept. I have clarified this with HMRC by phone in the past (as well as with a highly regarded tech person from a large UK life office). Transact accepts the enhanced PCLS as receiving scheme prov…
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Nope. no requirement to provide details of trust values / assets.
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Which part / how much of the gift falls under POAT? How much of the gift is being claimed as a failed PET under probate?
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I'm struggling to see why anyone would want to pay £300 or so (and put together all of the relevant details to gove to your chosen Agency) to do something which takes 10 to 15 minutes. Money for old rope in my view.
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Would be interested to hear what your further enquiries come up with as regards answer.
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My initial thinking is that there is a GWR in respect of half of the value of the property and also acts as an interest in possession. My reasoning is from considering a slightly different perspective. Let's say Mum owns the family home post Husba…
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FIle size - not sure; never had a problem ourselves. If you call FH they can tell you and can organise a demo #notsponsored
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Using it v succesfully. We send an intro email (via normal email) and then you send an invite email via File Haven. Use this to send documents / advice reports etc - two way communication so client's send us stuff back as well. Security top notch…
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Just got a link to this from Canada Life. https://www2.canadalife.co.uk/e/93102/rt-trust-registration-service-/78j83w/1518785510?h=B6w9owiFtiHP7urJtJixXRRvhb2uWyFZAC5Lz5OnA_A On it there is an excellent document with screen shots of each step …
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30 - 40 minutes - nope. It is nowhere near that long, provided you have the details of the trust, settlor, trustees etc to hand. More like 15 mins, including setting up the Govt Gateway. Get Govt GAteway ID for the Trust (You need an email address …
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It would probably help you to have a detailed job description/role expectation for the Paraplanning job as a starting point. This gives you (& your employer) clarity as to what you both think the role entails. This, in turn, will give you point…
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If it were me I would use FE to search for the fund variations and build a portfolio using whichever versions of each fund has the lowest ongoing cost figure.
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RAC being paid gross so the code to be increased by gross amount, as you have said. (The code increases by gross payment to RAC / 10) This arises from PA = £12,570 giving a tax code of 1257. This extends the PA by the gross RAC contribution to gi…
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The CLT still applies even if donor of bond owns the company. The legal ownership of the bond has changed so a gift has been made. The value of the CLT would take account of the increase in value of donor’s shares on the basis that the value of a…
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Transfer of money to Ltd Co is a CLT for IHT, unless someone tells me otherwise.
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@ruthiebusybee If your advisers are doing 'end of tax year' ISA business then a long hard conversation with them needs to be had. We get all of ours done over the course of April to Dec. Some obviously get overlooked / missed / delayed so this Marc…
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@Nath said: As has been said above a lot more info is needed before anyone could provide a very specific answer. I'm not sure what you mean about the £1,000 tax free though and 25% tax on remainder. If the trustee is surrendering segments withi…
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@Andy_Schleider 5% deferred tax is available to trustees. If settlor died before this tax year, trustees are liable to tax. If funds are to be paid out to beneficiaries then the assignment of segments to them with full surrender may be just as u…
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@Andy_Schleider What type of Trust? Is Settlor still alive?
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@Caro I'm sorry I dont know
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@Caro Feedback from me on the first session. Saw the announcement on FaceBook; used link to request invite; emailed back to say 'someone would be in touch' - this of itself seems bonkers - why wasn't a teams invite email just sent out straight aw…
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If a key reason for the client is to make use of passing pension (as a pension) down the generations then this automatically provides a reason for excluding SHP (and probably most workplace schemes too). Your file needs to show you considered SHP…
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Our process: We use Fact Find to gather mostly 'hard' data (but not expenditure). For policies/investments etc this is just basic plan name, provider, policy number. For expenditure we have a spreadsheet for clients to complete. This excludes anyt…
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@richallum Can you download other pdfs from FE? We use Edge and I dont always see the pdf appear in a pop up but are in the download drop down for Edge. (something to do with Edge settings I think)
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I too have times when it wont complete work.
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Hi @benjaminfabi Thanks for your input - I was hoping you would Where the changes are more complex than a simple fund A to fund B switch I am now thinking that a generic 'current portfolio' cost v 'new portfolio' cost based on an appropriate va…