richardgough
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Yes, this does help. You have a discretionary Trust. The wording is clearly creating a discretionary trust. Chargeable gain taxed to Trustees at Trust Rate.
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Hi Amela, Also, adding some clarity to my last post, the reason I said “How would the provider know” regarding a trust is due to generally poor training and / or experience and understanding of executorship / trusts etc. By definition of the rol…
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The bond provider won't be of any help on this. They are confirming something they cannot possibly know without reading the Will and only then if they have recorded it correctly on their database. I suspect they only asked for a copy of the Grant of…
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To start you need to see the Will of the deceased from 3 years ago - you need this to understand in what capacity the 'policy holders' are working in - executors or trustees. I suspect trustees in which case the Will gives you details of the trust …
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Forget the title; consider the benefit. Exams test knowledge at a certain point in time. The CFP Case Study assesses our ability to make use of that knowledge in a challenging client scenario. The combination of both gives (in my view) a formidab…
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Metro Bank.
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Ms Gill Steel TEP LLB ATT MBA Membership category: Full Member i LawSkills Ltd Rose Cottage, Woodman Lane, Sparsholt Winchester Hampshire SO21 2NS United Kingdom Email: gill.steel@lawskills.co.uk Telephone: +44 (0)1962 776442 Website: w…
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Pure admin errors which you are just trying to get resolved correctly are not covered by the CMC rules (as I understand it). However, if t is more complex and requires rectification of a more serious nature or compensation then this is likely to fal…
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Chargeable gains reporting comes under self assessment. Client is only required to report to HMRC if they are aware that they owe additional tax or if they are requested to submit a return by HMRC. Therefore, if no additional tax liability arises …
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Type of trust is important to see if the gifts are Chargeable Lifetime Transfers or PETs. For assessing your client's estate for IHT purposes you look back at premiums over the past 7 years (it is NOT the trust fund value you use). Depending o…
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Gross. This then feeds through on standard charts as nominal figures. You can then view in real terms using inflation adjusted charts.
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We are using File Haven for this. Not had any push back from clients. Desktop / web / app based. Easy invite process - just an email via File Haven to client. Very high level of encryption / security and it's all in the UK. Run by people who unde…
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I see on FaceBook that Richard Marshall of Marshall Wooldridge in Leeds is looking - don't know if they would consider someone remote working if geography isn't good.
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Yes. Bond gain tax calcs from Old Mutual or Pru will help show the impact of this strategy.
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Draft spreadsheet re my last post
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OK. Can do this but think =IFS(...) formula would not work as too many variables. From what you say your variables would be best assessed on a policy by policy basis with drop down menus. So we have for each case: Case Type; Case Complexity; Time…
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Does this help?
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We have a target return linked to client's agreed risk profile. We sue that rate of return irrespective of what the actual investment is. I would have thought that overall it makes very little difference to a financial plan forecast to finesse rate…
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Without discretionary management each client has to be written to individually. We sned vast majority electronically - letter, KIIDs etc. Where we can we sue Trasnact's online system to send reports, clients agree and trades are done autoamtically. …
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There aren’t any.
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We 'lost' SelctAPension when we left SImply Biz and their direct cost was (quite) high. Now taken on Adviserasset and v please so far. Admittedly not done much with it - mainly some ISa and GIA stuff. However, have also been able to use it to sourc…
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Assuming (dangerous, I know) you have the PSO this will state the percentage of the pension fund to be transferred. Other than a current value of that percentage (which in my experience I've never had an issue with getting it) I can't see that any o…
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@james_macaulay The agreement you refer to states it is a discretionary management service - so VAT applies to the fees. Ther is no fund. The use of the word 'Fund' is in relation to the Alternative Investment Fund Managers Directive. It is (in v…
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You can recycle equity release into a DGT - there is nothing in law to stop you. HOWEVER, this would (probably) be caught because the loan was being used "directly or indirectly" to the acquisition of assets subject to IHT relief i.e. the discoun…
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Clive Weir is the expert I know of. What he doesn't know about pensions and divorce isn't worth knowing! https://www.cwpensionconsultants.co.uk/about-us/
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Re Loan. Whilst this an option some care needs to be taken before using this. No doubt there would be an interest charge of some description for the provision of any loan; this then reduces the value of the trust assets for the benefit of other bene…
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I would be doing a surrender value projection year by year for both plans assuming the same growth rate (say 4% pa) Apply bond charges and surrender penalties each year. Then show long before the £20k SV is better than the £30k SV.
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@jadud92 That's fantastic news. Well done.
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Full calendar months from end of April is end of Jan. Plus 1 date = 1st Feb.
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For those following this thread and unsure of the answer to the CGT Q, it is £27,000. The loss on the gilt is irrelevant for CGT purposes (Gilts are not subject to CGT so losses cannot be offset against other gains). Gain on total investment is …