Specialist financial planning practice

Archive for the All News Category

Technical Note 3 – An unpleasant birthday surprise

In my last note I looked at one of the most common Benefit Crystallisation Events. What I didn’t explain is why we have BCEs – they are there to test the value of a pension against the Lifetime Allowance (LTA). The Lifetime Allowance sets a monetary limit […]

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Technical Note 2 – Phased Pension Withdrawal

So what exactly is a Benefit Crystallisation Event? There are 13 of them, and in most cases it is an event where value is removed from a pension fund, such as taking some tax free cash, drawing an income or payment of a death benefit. There is […]

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Finance Bill 2017

1 Reduced Money Purchase Annual Allowance If you have drawn any income from a money purchase pension using Flexi Access Drawdown or Uncrystallised Funds Pension Lump Sum (though not Capped Drawdown) you can continue to make scheme contributions, but these are capped at £10,000. This is known […]

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Technical Note 1 – Residence Nil Rate Band

First, some background. In 2007, whilst still in opposition, George Osborne proposed that the Inheritance Tax nil rate band (the first tranche of an estate that is exempt from Inheritance Tax) should increase to £1 million. It was seen at the time as a major policy announcement […]

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Spring Budget Commentary

So, leaving aside deficit figures, borrowing rates, GDP, and all the rest, what was announced? The one item that has received the most attention is the revision to National Insurance Contributions for the self-employed, and please forgive me if this starts to get a bit technical. In […]

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Online Fraud

The first press item centred on a trusted wealth manager’s e-mail account being compromised with a client being requested to click on links and provide the necessary information for a fraudster to commit their crime, namely usernames and passwords for online accounts. The e-mail adviser’s address and name […]

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FSCS compensation limit goes back up

I thought it worthwhile to remind you of some of the key features. The compensation is payable per person per bank. In other words, if you had £170,000 in two banks and were in the extremely unfortunate position of having both banks go under, you would get […]

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Autumn Statement 2016

This was our first chance to test the mettle of our new Chancellor, he having decided not to offer an emergency budget following the EU Referendum in June. And he has already told us that this will be his last Autumn Statement, moving the main Budget to […]

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Investing for children

There are many ways that investments for children can be set up but the first, and probably most important question, is one of control. When and how do you want the child to gain access to, or control of, the money? Is 18 too young? Is 25 […]

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Take Five to Stop Fraud

The figures are released as FFA UK and all major banks and key financial services providers across the UK come together for the first time to launch a national campaign to combat financial fraud. The campaign – Take Five – aims to put consumers and businesses back […]

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