richardgough
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Hi Ben, Suspect you are right but with HMRC you never know how they may try to "wriggle". Its the second question on the IHT 409 which concerns me a little as it is worded about making changes to benefits; would this include an effective alteration…
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Ben's point re spouse exemption corrects my previous (poorly thought through) comment - as always he brings clarity to a murky world!! Reading the FTT , UTT & Appeal Court adjudications on Staveley is very enlightening. The amount transfer…
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The issue is in respect of ANY action (transfer, contribution...) taken in respect of any pension within 2 years of death (and such action includes a decision to defer taking benefits). Whether there is a loss to the estate as a result of that ac…
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The IHT issue arises on death within 2 years irrespective of the cause of death; so applies if you get run over by a bus whilst being otherwise very fit and healthy. This 2 year rule is a long-standing one and the Stavely case is just one example…
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@arongunningham said: Here's the guide L&G pointed me to: https://www.legalandgeneral.com/library/protection/taxation-and-trusts/W13397.pdf Thank you - clearly you can do it! I am surprised but then again shouldn't be as trusts are ev…
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I just cannot see how this can work. When do you set up the Trust? During Settlors lifetime, therefore, the settlor is always going to be a beneficiary (unless of course, your trust specifically excludes both as beneficiaries), so you cannot crea…
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Joint settlor. Not necessarily; only if joint owned. So you could have single owner but joint life. However, as joint life assured first death you obviously don't know who the survivor will be (I tend to find clients reluctant to agree on who will …
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Before considering the RNRB (and I believe that there are two available for the surviving spouse in respect of their share on second death; the half going into trust definitely doesn't and is irrelevant on second death) but let's ignore that for the…
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Transact JISA; no fund restrictions.
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So let's look at this slightly differently. What requirement is there to charge rent to a tenant in law? (I'm going to ignore non relevant pension scheme issues here). As far as I can see there is none. If I owned a spare home and wanted to chari…
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PTM063400 provides the rules for this, which includes the requirement that the scheme administrator has received written evidence from a registered medical practitioner confirming that the member is expected to live for less than one year. SO, AJ Be…
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I understand details of the changes are due to be published at the end of September on the DT web site
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SelectAPension; FE Analytics;
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Client to complete hard facts part of fact find before adviser meets to do soft facts/risk profile etc.
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The TVC is, in reality, a different way of generating a critical yield albeit with different assumptions. Given that the FCA believe no client could understand the CY approach, no idea how anyone is going to truly understand this. Having said tha…
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If inheriting the holding then the book cost for those units / shares is the probate value; not clear from your post if you have that so sorry if 'teaching you to suck eggs'!! Other than that process looks good to me.
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Here you go.
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I have recently done AF7 (as a tick box exercise rather than a necessity as I have a few other pension exams behind me!!) so have an understanding of the exam and the syllabus. I'm happy to be a sounding board for any queries participants in a study…
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Scheme rules are the overriding document. An NRA on an insured plan is purely an administrative think so the provider knows when to start warning policyholder that their plan is coming to the maturity. Bear in mind these plans were written when your…
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From my understanding of the RNRB you assess the percentage of used / unused RNRB on 1st death in a similar way for NRB. From what you say this is 100%. This is the uplift and then taper applied. On this basis I believe your calc is correct. Have …
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Looks good planning to me. The taxation of the income portion has nothing to do with the choice of provider. It is an HMRC requirement introduced at the start of this tax year. It may not be at the emergency level if the provider gets an appropriate…
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Add the insert file icon to your command bar; saves two clicks. I've been doing this for a long time. Means you can update "standard paragraphs" easily in one document which can then be used in a variety of primary document templates. Primary advice…
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Ah but, is it an Aviva pension? Chances are if it was from one of the merged providers Aviva may not even have the records. Would certainly pursue this vigorously as I would have thought they have a regulatory responsibility for keeping pension rec…
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The start would be for you (on your own) to look at how the business is run. Are there practical improvements to the process/procedures which could enhance the client service / create efficiencies etc? Are the processes sued documented so that an o…
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Hi Clare, I'm down the road in Newport during the working day (& live in Cardiff). Richard.
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Having done this in the past and seeing how the regulatory things etc are developing I would have to say that you need some really very strong business case reasons for doing this. Assuming the network sorts out "minor" things like PI cover and your…
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We use FE analytics. The fund filter tool enables fund searching for Ethical / Social responsible either across the board or at a sector level. Found this a really good place to start.
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Not come across this (completely) before. I have a vague recollection of seeing something similar a few years ago. I can see the (theoretical) logic but suspect that POAT would come into play on the simple basis that you would still be living in 100…