February 2019


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  • IHT ignorance growing, survey finds

    18 February 2019

    A growing number of people are seemingly unaware of the impact of inheritance tax, new data from Canada Life has shown.   According to Canada Life’s annual IHT Monitor, half of over-45s who are liable for inheritance tax are unaware that their main property may be subject to the tax. This number has risen...

  • HMRC pensions freedoms overtaxing decried as ‘shameless’

    6 February 2019

    HM Revenue & Customs has taxed pension savers over £400 million since the pension freedoms were introduced in 2015, new data has shown, with one commentator decrying the practice as “shameless”. HMRC routinely taxes savers using the emergency tax code when it does not have the correct tax code, resulting in large payments which savers...

  • Technical: Tax and the use of discretionary will trusts

    5 February 2019

    Kim Jarvis, technical manager at Canada Life, looks at the use and taxation of discretionary will trusts and how to navigate the first 10 years of exit charges. Discretionary will trusts can be an exceptional estate planning tool, but care needs to be taken when it comes to the charges. Planning is the key...

  • Adviser firms missing intergenerational and legacy planning opportunities

    5 February 2019

    Adviser firms are not engaging with clients’ next generations, new research from Octopus Investments has shown, and so are missing opportunities.  Most adviser firms surveyed said they had an existing relationship with only 20% of their clients’ beneficiaries, while 58% said they were actively trying to develop these relationships. However, the overwhelming majority (95%)...

  • 5 ways to use VCTs in financial planning

    1 February 2019

    Venture capital trusts (VCTs) can benefit clients in a broad range of different situations, says Paul Latham, managing director, Octopus Investments. Over the course of the 2017-18 tax year, more than 400 advisers wrote their first venture capital trust (VCT) case with Octopus. It was indicative of the wider trend towards making more use...

  • Paraplanner views split on idea of single rate pensions tax relief

    29 January 2019

    The Organisation for Economic Co-operation and Development (OECD) recently suggested the UK should move to a single rate of pension tax relief or an ISA pension system.  In a recent Parameters survey we asked paraplanners for their views on the suggested change. An ISA pension system received little support – just 4% of respondents...

  • VCTs provider activity increases

    16 January 2019

    Venture Capital Trusts are seeking investors as the tax year end approaches, with Albion Capital announcing fund raising and Ingenious launching a new vehicle. Investment manager Albion Capital is seeking to raise up to £36 million through top up offers for its six venture capital trusts. The six VCTs include Albion Venture Capital Trust...

  • Christmas, gifting and estate planning

    24 December 2018

    Her process of Christmas gift buying reminds Rosie Marlow, associate consultant, Mattioli Woods of the need of clients for proper planning when it comes to gifting their wealth. As seasonal festivities are well underway, this time of year brings with it the daunting prospect of Christmas shopping. Have you started yours yet? There are those keen to...