September 2017


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  • Two things that are really annoying about the LTA

    29 March 2017

    Pension planning is far from simple particularly as people move from DB to DC schemes, which is where they can be caught out, says AJ Bell’s Mike Morrison. From a pension planning perspective the Lifetime Allowance (LTA) and the Annual Allowance (AA) have moved from complexity to complexity and as I talk to advisers...

  • Where HMRC and Revenue Scotland differ on in-specie property transfers between SIPPs

    27 March 2017

    Differing positions between HMRC and Revenue Scotland on in-specie transfer of property between SIPP operators could create barriers and see pension holders caught out as market consolidation occurs. Martin Tilley, director of Technical Services, Dentons Pension Management looks at the issue and says it may be useful to hold the property in an alternative...

  • Technical: Trusts – not as complicated as they may seem

    20 March 2017

    To a lot of people the concept of a trust carries an air of mystery. Canada Life’s technical manager Kim Jarvis provides an insight into their structure, how they work and what they can be used for in financial planning.  According to our (Canada Life) IHT survey* trusts were the second most unpopular estate planning tool, with...

  • Ilott case – could have been avoided by using a trust

    16 March 2017

    Following the release of the Supreme Court judgment on the Ilott case, Rachael Griffin, tax and financial planning expert at Old Mutual Wealth, says use of a trust would have been better financial planning than using a will and given greater control over distribution of wealth. To briefly give some background to this case, in 2007 estranged daughter, Heather...

  • Key facts from the Spring Budget 2017

    8 March 2017

    Highlights from Philip Hammond’s Spring Budget speech. The Chancellor Philip Hammond commended his Budget to the House of Commons as one providing a strong and stable platform for Brexit negotiations, underpinning the “continuing resilience of the UK economy” with growth expected to be higher and borrowing lower than forecast in November and “making Britain...

  • Pensions Freedoms tax boost for Treasury revealed

    8 March 2017

    Retirement Advantage flags Treasury raked in £1.2bn more than expected in 2015-2016 Retirement Advantage has highlighted that the Treasury has admitted the pension freedoms announced in March 2014 Budget and implemented in April 2015 have raised far more tax than anticipated. Treasury initially estimated Pensions Freedoms would raise around £0.3 billion in 2015-16 and...

  • Continuation of double-taxation of pensions is not ‘fair’

    8 March 2017

    The Chancellor has missed an ideal opportunity to simplify pension savings tax and encourage retirement saving, says Kay Ingram, Director of Public Policy at LEBC Group LEBC is disappointed that the Government did not take the opportunity to simplify the tax treatment of pension savings to incentivise more saving for the longer term. The imposition...

  • Technical: The laws and rules around intestacy in the UK

    7 March 2017

    Would a person’s loved ones receive the same inheritance under the rules of intestacy no matter where they lived in the UK? Kim Jarvis, technical manager, Canada Life, investigates. If a person dies without a valid will, it means they have died “intestate.” When this happens, the intestacy laws of the country in which they resided will...