Latest - TAX AND TRUSTS

• 

  Income tax disparity created between Scotland and rest of UK

  13 December 2018

  The Scottish higher rate tax threshold has been frozen following the latest Scottish Budget, creating a disparity between the income tax regime in Scotland and the rest of the UK.  The Scottish Finance Secretary Derek Mackay announced on 12 December that the income tax threshold in Scotland would remain unchanged at £43,430, residing £6,570...

  READ ARTICLE
• 

  NS&I presents 400th £1m premium bond win

  10 December 2018

  Premium Bonds celebrated a milestone this month, presenting the 400th Premium Bond holder with the £1 million jackpot prize. The recipient, a woman from Kent, has just £5,300 in Premium Bonds – much less than the 2018 average jackpot-winning holding of £35,135. The last time the jackpot was won by someone with less than £5,000...

  READ ARTICLE
• 

  Tax planning: How to exit a bond – Part II

  9 December 2018

  In the second part of her articles, Kim Jarvis, technical manager, Canada Life says when using a UK bond, the exit is not all about tax There are many factors besides tax to take into account when choosing a tax wrapper, and these may impact on access. Investment bonds provide flexibility in access and...

  READ ARTICLE
• 

  CII Level 4 Diploma course launched by Blackburn College University Centre

  6 December 2018

  Blackburn College University Centre is running the CII Level 4 Diploma in Regulated Financial Planning, giving North West paraplanners and technical consultants and those aspiring to become financial planners the opportunity for face-to-face taught sessions from an independent Higher Education establishment. The course will run from 8 January 2019 to 1 October 2019, taking...

  READ ARTICLE
• 

  Tax planning: How to exit a bond – Part I

  5 December 2018

  Kim Jarvis, technical manager, Canada Life examines the options when a client wants to exit an onshore bond fund, in particular total segment surrender versus the allowance, with case study.  First published in the December 2018 issue of Professional Paraplanner. An onshore bond is simply a tax wrapper and you may have clients that are...

  READ ARTICLE
• 

  HMRC’s interpretation of death benefits in respect of a pensions transfer

  5 December 2018

  Martin Tilley, director of Technical Services, Dentons Pension Management looks at HMRC’s interpretation of death benefits in respect of IHT where a pension transfer takes place, with reference to the recent ruling in Staveley vs HMRC. First published in the December 2018 issue of Professional Paraplanner. Scrutiny of Chancellor Osborne’s pension freedoms announced in...

  READ ARTICLE
• 

  Rules around transferable nil rate band causing confusion

  29 November 2018

  The rules around the transferable nil rate band are causing confusion for advisers, according to Canada Life. Results from the company’s Hot Topics report show that only 7% of advisers understand when to correctly apply the NRB after the death of a spouse or civil partner. Two-thirds believe that the NRB can be used...

  READ ARTICLE
• 

  TDQ: Test Your Knowledge – Questions

  29 November 2018

  For Professional Paraplanner’s TDQ (Training, Development and Qualifications) series, we have teamed up with key support providers, such as Brand Financial Training, to provide our readers with the very best in training, development and exam support. This series aims to provide you with valuable advice and guidance materials to help you achieve your training...

  READ ARTICLE