March 2019
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Latest Development - Tech Zone - In Association with Prudential

  • This could save a married or civil partner clients £4,800 in IHT per year

    18 March 2019

    This tax exemption may be overdue a review but it is still a useful tool when tax planning, says the Prudential technical team. It is currently £3,000 and has remained unchanged since April 1981 – back when Shakin’ Stevens was at number one in the UK singles chart with ‘This Ole House.’ The Chartered Institute of Taxation...

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  • TDQ: Passing AF7

    18 March 2019

    Catriona Standingford, MD of Brand Financial Training, looks at AF7, the exam with the lowest pass rate in 2018 and says it should be a tough paper In 2018, the CII AF7 Pension Transfers exam had the lowest annual pass rate of all the Advanced Diploma AF exams (ignoring the discontinued AF3). At just...

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  • Planning to get done before the end of the tax year

    10 March 2019

    Start to look at what’s next before you finish what’s now, suggests the Prudential technical team We’re into tax year end and many people are busy getting all those things done as 5 April looms, whether that be finalising pension contributions, using up allowances or bed and breakfasting those capital gains. But should we...

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  • How to find the perfect B&B this end-of-tax-year

    7 March 2019

    The Prudential technical team explain the rules around ‘bed and breakfasting’, a practice against which HMRC brought in anti-avoidance rules, The internal fund tax of wrappers such as bonds and Open Ended Investment Companies (OEICs) can be confusing. Here’s a simple fact though – within an OEIC, no tax is payable on capital gains...

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  • Tax year end pensions planning opportunities

    26 February 2019

    Tax year end, when everyone’s final income positions are becoming clear, is a prime time to do some pension tax planning, says the Prudential technical team. Contributions, adjusted net incomes, taxable income, relief at source, net pay and extension of tax bands. All phrases involved in the identification and calculation of what levels of...

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  • Technical: Calculating the annual allowance

    25 February 2019

    The Prudential offers a free-to-use annual allowance calculator on its website. In this article the Prudential Technical Team explain how to use Prudential’s calculator and what information is needed to carry out annual allowance calculations. Key points The annual allowance limit applies to the total monetary value of all defined contribution amounts paid by...

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  • Pensions and business exit planning

    25 February 2019

    SSAS is an ideal business exit planning tool, says Stephen McPhillips, technical sales director, Dentons Pension Management Limited Small self administered schemes (SSAS) have experienced something of a renaissance over the past few years, despite the increasingly difficult process to have these accepted and registered by HM Revenue & Customs (HMRC). This relatively new...

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  • Tax and trusts: Sideways inheritance

    21 February 2019

    The incidence of divorce and re-marriage amongst baby-boomers can make inheritance fraught with difficulties and requires talking to clients about their wishes, wills, trusts and tax, says John Humphreys, inheritance tax specialist at WAY Investment Services Ltd Dealing with inheritance issues can be an extremely sensitive matter. How much to pass on and to...

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