Industry news and views from Panacea and our partners.
Tax, Trust & ISA_
Canada Life: Making the most of the new pension rules as part of estate planning
With the introduction of the pension freedoms which came in last year, there were also changes to the rules around pension death benefits, opening up the narrow definition of who could be classed as a beneficiary, as well as the tax treatment of those benefits once in the hands of the beneficiary. These changes provide new opportunities for incorporating pension death benefits into your overall estate planning. How are pension benefits taxed on death?
Prudential: Oracle technical - May edition is now available
Welcome to May's edition. A mixed bag this month. The tax and trust wing await with bated breath the outcome of the bond taxation consultation - will we see the end of the 5% rule as we know it?
Canada Life: Glasgow seminars
At Canada Life, we have specialists who can help support your business and your clients as they move through various stages of their life. At this event we will hear from Cathy Russell, Tax and Estate Planning Consultant, who will explore estate planning considerations for those in second marriages the potential issues and solutions.
Centre for Policy Studies: Response to DWP Committee report concerning the Lifetime ISA
Response to DWP Committee report concerning the Lifetime ISA: reinforce auto-enrolment with a Workplace ISA, to complement the Lifetime ISA
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
Canada Life: UK Dividends Webinar: tax changes - are you up to speed yet?
The tax position of UK dividends changed dramatically on the 6 April 2016; the tax credit is no more and there is now a £5,000 yearly allowance. Are you up to speed yet on how this will affect your clients? Join Jeremy Pearson who will explain the changes, how it affects investment portfolios and the revised tax position for owner/directors and trustees. He will conclude with a summary of the target markets.
Prudential 1 year on from pensions freedom part 2 maintaining client suitability requirements
Dont forget to register for Prudentials WebEx on 19 May 2016 to help you identify new financial opportunities with your clients.
Canada Life: Back to school: how estate planning and gifting can help school fees
Independent education fees are not cheap. According to the Independent Schools Council Annual Census in 2015, the average annual fees are £11,970 for Junior School, £16,704 for Senior School and £20,838 for Sixth form. Meanwhile university tuition fees in England and Wales can now be as high as £9,000 per year, with living costs on top. This causes a headache for most fee paying parents.
Canada Life: Insuring an IHT bill doesnt hit home
So far in this series of articles we have looked at how to minimise your inheritance tax (IHT) through placing assets into trusts. But how to deal with the dilemma of a potentially large IHT bill but no liquid funds to place in a trust for example
Prudential: Oracle technical - April edition is now available
Happy New Year! Well, happy new tax year. After all, what other year matters?! This month we avoid looking at the use of offshore tax havens, or perhaps were evading the issue So, what are we looking at this month?
Axa Wealth: Tech talk: Dividend tax changes
This month our Tax & Trusts team cover queries they've received about 6 April changes to dividend tax.
Axa Wealth: A practical view of the dividend tax changes
John Haley, technical consultant, AXA Wealth works through some practical examples of the effect of dividend tax changes from 6 April.
Prudential: Masterclass WebEx Post-Budget financial planning
Terms of use: Email Template for Account managers to issue to advisers on their panel from their own email.
Sri Services: Panama Papers: from point scoring to progress?
I am delighted to see at least some of the ethical aspects of investment hitting the headlines but have a strong feeling that constructive debate would be more useful than political mudslinging Tempting as it is, I intend to stay well away from specific cases and take a brief look at three areas that I feel would be beneficial for the financial community to consider.
Canada Life: The art of regular gifting to reduce your tax bill
For our second instalment in this new series looking at how you can cut your familys inheritance tax (IHT) bills, we look at a solution ideal for those finding their feet in estate planning.
Royal London: Lifetime ISA - Long term savings scheme or Trojan horse?
Steve Webb, our Director of Policy and External Communications, considers the new Lifetime ISA.
Aviva Financial Planning Bulletin: Personal savings allowance from 6 April 2016
The nil rate band for inheritance tax is to remain frozen at £325,000 until April 2021. From 6 April 2017 an additional residence nil rate band will be introduced and its objective is to reduce the amount of inheritance tax most families will pay on the family home. The new residence nil rate band makes it important to revisit and review clients estate destination and inheritance tax reduction plans.
Axa Wealth: The tapering of simplicity
Andy Zanelli, head of technical consultancy, AXA Wealth, examines some of the changes and practical challenges arising from the tapered annual allowance.
BlackRock: The budget: encouraging and articulating the importance of saving
We broadly welcome the budget. However, we would like to see further efforts in helping people to rediscover their savings habits.
Aberdeen Asset Management: UK Budget 2016: Ties that bind
The Chancellor could be forgiven for approaching this Budget with a certain weary resignation. It is, after all, his fourth fiscal statement in 12 months. And he will have been well aware that the constraints he always faces on Budget Day have only tightened over the past year.
Canada Life: Happy Tin Anniversary - or will it be?
This month, it will be ten years since the 2006 Budget when the Government made important changes to the way in which most trusts are treated for the purposes of inheritance tax (IHT). What overall impact have these changes had and what should trustees watch out for from 22 March 2016 - the ten year anniversary date?
Aviva Financial Planning Bulletin: Dividend Taxation from 6 April 2016
The taxation of dividend income is set to change from 6 April 2016. From this date people will be taxable on the actual dividend they receive and the current system of receiving a net dividend with an attaching 10% credit and grossing up will no longer apply. In this Financial Planning Bulletin we look at how the system will operate for all types of taxpayers, the planning opportunities resulting and how to maximise its benefit.
Wizard Learning: Dividend taxation, revision, data protection, R06 & AF5
1. Changes to dividend taxation 2. Audiovisual presentation: Your revision timetable 3. Expected solution packages for April exams for R06 and AF5 - start preparing now 4. GDPR Data protection reforms
Prudential: The Budget 2016 WebEx
The chancellor of the Exchequer, George Osborne, will stand up on Wednesday 16 March to deliver the Budget to Parliament.
Royal London: Don't let the tax year end be too taxing
With the end of the tax year fast approaching, youll want to ensure your clients are making the most of their entitlements while they can.
Prudential: Oracle Technical February Edition
Welcome to Februarys edition. Were now deep into tax year end with the Budget approaching rapidly. And Im sure everyone has been busy making their higher taxpaying clients aware of the impending changes to tax relief with a view to one last hurrah before B-day.
Prudential: ISAy, ISAy, ISAy
As we all look back on the festive period with either relief or disappointment my mind goes out to the people whose job it is to write next years cracker jokes. I wonder if all they do is recycle the ones from the previous year? It certainly appears to be the latter!
Canada Life: register now for our Tax Year End Planning webinar all you need to know on tax planning and the changes to pensions and dividend taxation
Tax Year End Planning with the end of the tax year looming, tax planning and the changes to pensions and dividend taxation are very much on the agenda for you and your clients. Jeremy Pearson, from our ican Technical Services team, will explore tax planning opportunities including use of allowances, pension and ISA contributions and more. He also looks at the major changes happening on 6 April 2016.
Prudential Is there any such thing as a simple Tax Year End anymore?
Last year for our Tax Year End Oracle, we had an article titled It really is a Tax Year End like no other, highlighting the particular nuances that had been dropped into our world for Tax Year End planning. 2015 has followed a similar theme in so much that we have again been challenged by further issues with the potential to throw us off our stride. 2016 looks like continuing this theme with the Budget 2016 due to announce possible changes to pensions tax relief.
FundsNetwork: Application deadlines for this tax year
To ensure you submit all client Pension and ISA applications in on time, FundsNetworks website provides full details of the deadlines for both online and paper applications.
Scottish Widows: Tax planning ahead of the tapered annual allowance
Last summer the Government announced changes to the pensions Annual Allowance for people with high levels of income.
Scottish Widows: Techtalk tax year end special edition
Our Techtalk magazine provides topical expert guidance for intermediaries that anticipates, interprets and forecasts key industry changes and regulation.
Prudential: Shocking statistics revealed: is it time to talk tax?
Did you know that 57% of taxpayers admit they havent done anything to reduce the tax they pay in the last year?* The reasons behind this vary from not being aware, not understanding tax issues or they just havent thought about it. Could this be an opportunity to speak to your clients or target new ones?
Prudential: Higher rate tax relief opportunity
There is high level speculation that the Chancellor will announce a change to the way in which tax relief on pension contributions work in his budget on 16 March.
FundsNetwork: FNW - Reports and marketing letters to help maximise the opportunity
FundsNetwork ISA contribution report helps you to quickly identify clients who havent yet used their allowance. FundsNetwork also have a range of easy to use marketing letters and guides to help you with campaigns for both ISA and pension business.
Prudential Minimising Tax and Maximising Tax Wrappers WebEx
Register to join our WebEx on 4th February 2016 to help you identify new financial opportunities with your clients.
Prudential: January 2016 edition of Oracle - Tax Year End planning
In this edition of Oracle we take a look at the Tax Year End opportunities. However, gone are the days where Tax Year End planning used to be about using unused allowances as Mark discusses in his article 'Is there such thing as a simple Tax Year End anymore?'
Prudential: Oracle technical - January edition is now available
Our latest edition is here - bringing you commentary and insight on topical financial matters that have a technical element to them.
Stellar Asset Management Ltd: New ISA Guide Available
As we enter 2016 and approach the end of another tax year, our thoughts are firmly focused on how best we can help our valued clients to stay ahead of the game in this highly competitive and fast-moving market place. Our dedicated team of specialists is always on hand to provide the best possible service and technical support to enable IFAs to advise clients with total confidence.
FundsNetwork: End of tax year support launched
FundsNetwork have launched a dedicated support zone to help you communicate the benefits of investing to your clients and remind them about their annual allowances.