Industry news and views from Panacea and our partners.
Tax, Trust & ISA_
Prudential: NEW: Oracle Plus ISA collection
Its difficult to talk about any investment without thinking about the significant market falls weve seen over the recent weeks and months. But Prudential are here to help you with client reviews, specifically around ISAs.
Prudential's ISA has had an upgrade
Prudential have improved their Prudential by building a new online service, with enhanced functionality, which gives you control and flexibility of the management of your clients investment in a safe, secure, efficient and intuitive environment available when you need it.
FundsNetworks pension LTA adviser support package
Paul Kennedy and Paul Squirrell, FundsNetworks tax and pension experts, discuss the pension LTA and its framework, which was recorded before the lockdown.
Royal London: Join us for a webinar Tax planning
Join Clare Moffat in a webinar that looks at the tax planning opportunities which exist with pension contributions on Thursday 30 April.
Prudential ISA planning using 2020 foresight webinar
Join Prudentials webinar on Thursday 23 April at 9am. During the course of this webinar Vince Smith-Hughes and Cat McInally will explore the various planning angles using an ISA, which might suit some of your clients in the new tax year and beyond.
FundsNetwork: New: tax tables 2020/21
FundsNetworks 2020/21 tax tables are now available, with updated rates and thresholds for the coming year.
FundsNetwork: Tax relief, annual allowances, tapering and what triggers the money purchase annual allowance
Calculating clients' pension allowances, particularly at tax year end, can be complex. Paul Kennedy and Paul Squirrell, FundsNetworks tax and pension experts, discuss the many steps involved in the process. From the critical starting point of tax relief they also discuss carry forward, annual allowances, tapering and what triggers the money purchase annual allowance.
Prudential: Bond Taxation
In some respects, Insurance Bond taxation is nice and simple. No income arises for the investor, so no annual self-assessment obligations.
FundsNetwork's Pension lifetime allowance guide
Planning has undergone a range of changes over the years. FundsNetwork's guide covers areas such as transitional protection, enhancements and reductions, test trigger events and the LTA charge.
Prudential: Extracting Profits from a limited company in the most efficient way
Robert owns a limited company and reviews his remuneration at the end of his reporting period, 31 March each year. He usually takes a combination of low salary and high dividends. The business has generated £100,000 of profit for the year and Robert uses the remuneration taken out in December to pay his bills etc for the next calendar year.
Prudential: Will your client be able to claim the Annual IHT Exemption?
An individual has an annual exemption for lifetime transfers of £3,000 per tax year. After making use of your current years exemption, you can also carry forward any unused amount from the previous tax year.
FundsNetwork's tax and pension technical materials
To help your discussions with clients at this time of year, our range of client-facing guides explain the more complicated aspects of pensions and allowances, in simple terms
Old Mutual Wealth: PENSION: Annual allowance excess tax charges and scheme pays Thursday 30 January 2020 at 10am
An increasing number of peoples retirement plans are being affected by the tax law. There is a lot of confusion and concern amongst clients.
FundsNetwork: Tax and pension technical content all in one place
The whole area of retirement planning is arguably more complex than ever before, so FundsNetwork have pulled together a range of topics that have been popular with advisers and paraplanners in recent months. The toolkit allows you to easily navigate to the content of most interest to you.
FundsNetwork: Pension death benefits and the tax implications
As pensions can play a dynamic role in terms of succession and inheritance tax planning, FundsNetwork uncover the various technical aspects involved in a series of articles and videos. They look at the type of death benefits payable and the tax implications under both defined and money purchase schemes. To find out more, check chapters 3, 4 and 11 of their 'Retirement planning and pension toolkit'.
Old Mutual Wealth: Have you ever had a joint life application declined because one client's health makes them uninsurable?
If the plan was on a last death basis for IHT planning, that probably left you with a dilemma: how do you ensure the money is paid out to the beneficiaries at the correct time?
Aegons Tax-efficient protection planning for the small business
Read Aegons Tax-efficient protection planning for the small business to find out how packaging relevant life with an executive income protection policy can provide an attractive employee benefits package.
Recommending FundsNetworks ISA and Investment Account to your clients
FundsNetworks due diligence guide covers the reasons why you can recommend their ISA and Investment Account to your clients. It provides detailed information about our service and commitment, including the investment range, income options, bulk switching and much more.
Aegon: Inheritable ISA now available on Aegon Retirement Choices (ARC)
If your client owns ISAs when they die, their surviving spouse or civil partner can now use their inherited additional permitted subscription on ARC
Prudential: Handling income and investments with care webinar
Register to join one of Prudentials webinar sessions on Wednesday 18 September,to help you identify new opportunities with your clients.
Prudential: All aboard the online train
As we all know too well,. HMRC has a multitude of forms, but regardless of that, can you specifically identify Form 41G? Graeme Robb, Senior Technical Manager at Prudential goes into more detail.
Prudential: Death benefit nominations
Its all over the media that we need to talk more about uncomfortable subjects, eg organ donation, mental health, funeral plans etc. In the pensions world, this includes death benefit nominations.
Prudential: 55%, 25% or 0%: How much should you pay when it comes to LTA?
Register to join one of Prudentials webinar sessions on Thursday 15 August, to help you identify new opportunities with your clients. Presented by Jacqueline Clezy Technical Manager.
Prudential CPD compilation Discretionary Trust Taxation
It's simple to explain to a client when there's no Inheritance Tax (IHT) to pay at outset on a lifetime gift. But can you explain to a client what the ongoing IHT implications are of using a discretionary trust? The relevant property regime is complex and if you don't understand it, you could inadvertently cause a tax charge, or miss an opportunity to avoid one.
Zurich: Buy-to-let tax traps: What clients need to know
The government is making life increasingly complicated for private landlords, and advisers need to be wary of a number of potential tax traps when working with clients with second homes, writes Zurichs Andy Woollon...
Zurich: What if clients exploited all their allowances?
Exploiting all available allowances could, theoretically, and for clients with plenty of capital, net tens of thousands of tax-free money, writes Zurichs Andy Woollon
Standard Life: top slicing relief changes advisers need to know
Changes to HMRCs guidance on top slicing relief mean it may no longer be as quick and easy to determine if there's additional tax to pay when a bond is surrendered. In some cases, the shorthand method could now be a shortcut to the wrong tax destination.
Royal London: Life cover for life
When someone mentions whole of life plans, most people will think of a niche product that serves as an inheritance tax (IHT) planning tool for high net worth clients
Aegon: Living and dying with the lifetime allowance webinar. Earn CPD time
Join Aegon's webinar on Tuesday 23 July to hear Martin Haggart, Aegon's Technical Pensions Manager, and Elaine Cruickshank, Aegon's Tax and Trusts Manager, discuss the various opportunities to consider with the lifetime allowance
FundsNetwork: The lifetime allowance: the devils in the detail
Even though the lifetime allowance (LTA) may have been introduced as part of pension simplification', back on A-Day in April 2006, given the constant tinkering it has seen over the years, LTA planning can be far from simple. In his latest article, Paul Squirrell, FundsNetworks National Pensions Sales Manager, covers the principles of the lifetime allowance, the protections available and the tax charges.
Prudential: The Three certainties of top slicing relief (that no longer apply)
There have always been three certainties to top slicing relief for insurance bonds.
Defaqto: Discretionary Management and CGT
One of the reasons for selecting a discretionary managed, segregated portfolio over a portfolio in a collective structure, such as ETF or OEIC, could be the treatment of tax. Specifically, the management of Capital Gains Tax.
Prudential CPD compilation Bond Taxation
Whether you're recommending an investment bond for your client, or advising them to encash one, it's important to understand how bond gains are taxed.
Prudential Bonds & OEICs taxation quiz
Register to join one of Prudentials webinar sessions on Thursday 20 June, to help you identify new opportunities with your clients. Hosted by Graeme Robb Senior Technical Manager.
FundsNetwork: Calculating capital gains
Paul Kennedy, FundsNetworks Head of Tax & Trust Planning, explains the complexities of calculating capital gains. He discusses the methodology and the different factors affecting calculations, such as: initial purchase costs, equalisation, notional distributions, rebalancing model portfolios, fees and charges and much more.
Probate fees false alarm: Unmarried couples represent the biggest life cover set-up risk
We thought that this brilliant piece that first appeared in Cover Magazine was, with their permission worth sharing.
FundsNetwork: Tax tables 2019/20
To help you prepare for the new tax year, FundsNetworks 2019/20 tax tables are now available to view and download. Youll find all the tax rates, including Scottish rates, and thresholds you need at a glance.
Seneca Investments Managers: Searching wider for ISA income this year?
LF Seneca Diversified Income Fund is eligible for your clients' ISAs Here at Seneca IM, we understand that investors are having to search wider for an attractive income in their ISA. This is where our Diversified Income Fund can deliver.
Old Mutual Wealth: Top-slicing relief dont shortcut the calculation
If you are feeling confused on how to calculate top-slicing relief on bonds, this article should provide you with some clarity. We also have a new detailed guide available, and an online tool, providing you with additional support.
Aegon: Demystifying trust and IHT planning webinar earn 40 minutes CPD time
Watch our webinar to hear Elaine Cruickshank, our Tax and Trusts Manager, unravel the complexities of trust and IHT planning and spot new business opportunities. During the webinar Elaine covers: