Latest - TAX AND TRUSTS

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  Winners of the Professional Paraplanner Provider Awards 2019

  14 June 2019

  We are delighted to announce the winners of the Professional Paraplanner Provider Awards 2019. The awards were announced immediately after this year’s record attended London Technical Insight Seminar, to an audience of paraplanners and financial services companies gathered to hear who had won this year’s accolades. For these awards we asked our readers to nominate...

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  Lifetime allowance planning

  12 June 2019

  If your client has LTA issues, is it better to take money out of a pension pre or post age 75? Charlene Young, senior technical consultant at AJ Bell, presents a case study to illustrate the key points. First published in the June issue of Professional Paraplanner.  We often get asked if it is...

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  10 UK pensions changes that have and are impacting financial planning

  11 June 2019

  As Curtis Banks celebrates its 10thyear as a SIPP & SSAS provider, chief executive Will Self looks at 10 key UK pension changes over that period and how they have and are impacting financial planning for clients. Curtis Banks celebrates its 10thanniversary in June. It’s been a busy ten years for us, and even...

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  Pension overpayment consequences – genuine error rules

  10 June 2019

  The fact that pensions benefit from a number of tax privileges means the rules surrounding adding and removing funds are awfullystrict. Unfortunately those limits can sometimes be breached simply by mistakes being made. After all, we are human, says Danielle Byrne, technical resources consultant at AJ Bell Most people will make a contribution to...

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  Genuine breaches of lifetime allowance extended a tax bill lifeline

  3 June 2019

  Pension savers who mistakenly breach their lifetime allowance could be spared huge tax bills after HM Revenue & Customs dropped its appeal in a landmark court case.  The case centred on appellant Gary Hymanson’s claim he had accidentally failed to cancel a direct debit to his pension scheme, which according to HM Revenue &...

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  HMRC IHT receipts down in April but still ‘unusually high’

  23 May 2019

  Inheritance tax receipts decreased by £64 million in April but were still significantly higher than in the same period of last year, the latest figures from HM Revenue and Customs have shown. In April, IHT receipts totaled £473 million, down from £537 million in March, marking a drop of 12% month on month. However,...

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  Over 55s failing to reduce their IHT bills

  22 May 2019

  The majority of over-55s are not utilising the wealth of options available to reduce the inheritance tax bill on their estate, new research from Canada Life has shown. According to the findings, less than two in five (35%) UK adults aged 55 and over have given or plan to give gifts that they would...

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  Tapered annual allowance causing ‘untold damage’ to pensions understanding, confidence and trust

  20 May 2019

  While much attention has focused on NHS staff being hit with an unwelcome tax bill as a result of the government’s tapered annual allowance, the “dastardly” pension tax affects many more workers across the public and private sector, and is having a negative impact on people’s confidence and trust in pensions at a time...

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