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Tax, Trust & ISA_
Fidelity Adviser Solutions: Maximising tax benefits within an ISA
As we approach the tax year end, Fidelitys Paul Squirrell examines investing within an ISA. He considers why its best for clients to use the allowance as soon as possible in the tax year, options for investing in uncertain times and why it makes sense for fees to be paid outside the ISA wrapper wherever possible.
Fidelity Adviser Solutions: 2024/25 tax tables available
Fidelity Adviser Solutions 2024/25 tax tables are available with all the rates and thresholds for the coming year. Download your copy from our tax year end hub now.
M&G Wealth: Stepping out of cash neednt be daunting
ISA season is underway but with Cash ISAs continuing to offer favourable interest rates, are your clients looking to them as a solution?
Update: 'Replacement' of the lifetime allowance
Following an initial Policy Paper and a Draft Finance Bill issued last summer - and a resulting consultation period - further draft legislation was released in November 2023. This has provided more clarity on the new rules and the transitional arrangements. In this postcard, Fidelity's Paul Squirrell summarises some of the announcements made in the draft legislation and analyses what this could mean for financial planning.
The 7 steps to achieving good tax outcomes (90 mins CPD)
Thursday 15 February, 10am - 11:30am. Arriving at the income tax liability for a UK individual involves working through a 7-step calculation. An understanding of these steps is crucial in forming a strong foundation when planning in many areas from pension tax relief to the tapered annual allowance, the taxation of investments, tax charges and much more.
M&G Wealth: Tax Year End Support
Visit PruAdviser which hosts a range of topical tax planning articles and ideas for tax year end and more.
Fidelity Adviser Solutions: Tax planning insights and practical tips
With lots of changes to tax allowances and other regulations over the last year, Paul Squirrell takes a high-level look at some of the main considerations for financial planners as we approach the tax year end, while Jon Hale shares some practical tips for managing client accounts
M&G Wealth: Tax Year End Support
To provide some assistance, we've pulled together a 'Tax Year End Support' hub, which includes various articles, videos and tools covering what you need to know for tax, trust and pensions for tax year end.
M&G Wealth: Everything you ever wanted to know about tax year end (and haven't been afraid to ask)
How does pension tax relief interact with the Annual Allowance? Who needs to self-assess? How does the annual exemption for Inheritance Tax (IHT) work? Can you help me understand more about bed and breakfasting?
Fidelity Adviser Solutions: IFA DNA 2023: Adapting to uncertainty
This year Fidelitys IFA DNA research explores how firms, and their advisers are adapting to ongoing uncertainty a challenging low growth and recessionary environment where clients are adjusting to higher interest rates and a cost-of-living crisis. Fidelity Adviser Solutions have also included our Special Report which examines the impact of regulation and tax changes on advice firms. Hear what your peers have to say.
Fidelity Adviser Solutions: How ISAs might change Autumn Statement
The rules and incentives governing savings may be up for review at the Autumn Statement next month (22 November). Reports are emerging of an overhaul of the regime for ISAs. With little room for tax giveaways, the government may need to rely on tweaks to savings as a financial sweetener to families. But how? Fidelitys Ed Monk examines some of the proposed ISA reforms.
Register for our upcoming event - Lifetime Allowance
Back in April, we held a record-breaking online event hot on the heels of the Government's announcements in the Spring Budget about the abolishing of the Lifetime Allowance. Over 1,800 advisers joined the session to hear our award-winning Technical Team cover the proposals for 2023/24, which are now law.
Prudential: 2023/24 Lifetime Allowance Changes
Its important to remember that for the 2023/24 tax year that we still have the lifetime allowance rules in place, there have however been some changes to the taxation of benefits.
M&G Wealth: The Lifetime Allowance Hokey Cokey
There used to be some kind of logic to the Lifetime Allowance (LTA). Not any longer but that doesnt stop it continuing to hang over retiring investors and their advisers like some fiscal sword of Damocles.
Fidelity Adviser Solutions: Retirement savings hierarchy webinar
Tax changes announced by the Government mean there are important new considerations when thinking about the tax wrapper hierarchy for clients saving for their retirement. To help you navigate the implications for retirement planning and to demonstrate how to practically manage and facilitate any required actions on our platform Fidelity Adviser Solutions are holding a webinar on 20 September 2023 at 10.00am.
Fidelity Adviser Solutions: Webinar: Retirement savings hierarchy
Tax changes announced in both the Autumn Statement and Spring Budget mean there are important new considerations when thinking about the tax wrapper hierarchy for clients saving for their retirement.
A Golden Age? Pension tax planning 2023/24 and beyond
After several quiet years, it's been a tumultuous time in the tax world, with much change from Budget 2021 through to Budget 2023.
M&G Wealth: Paraplanners Assembly 2023: Do tax wrappers go to heaven?
The big idea is that, next time one of your clients gets in touch to say someone close to them has died, this Assembly will help give you the confidence to say: Please dont worry about anything. I can help.
Prudential: Support for your client conversations
You can use this client-facing content to help prompt your clients to engage with you and make plans for what they leave behind.
Prudential: UK investment bonds: taxation facts
Discover key infomration about the taxation regime for UK Investment Bonds on PruAdviser. Chargeable events, part surrenders, policy loans and more.
Will your clients be paying more tax this year? (45 minutes)
With many allowances now frozen until at least 2025/26, combined with the current inflationary environment, your clients will benefit more than ever from your grasp income tax, national insurance, capital gains tax and inheritance tax as you plan to manage their wealth.
Advising Trustees (90 minutes)
Providing advice to trustees is a different ball game to advising individuals and one of the most commonly asked questions is 'What can the trustees invest in?' While this is a pertinent question that needs answered, the equally important questions of what the trustees should be investing in is often overlooked.
LV= Smoothed Bond - The smooth way to boost tax-efficiency
LV are here to help you grow your clients savings while reducing the impact of volatility, and with their Smoothed Bond you can make the most of its unique features to do just that. Designed to provide long-term steady to moderate growth, with very low to medium level risk investment.
LV= Smoothed Bond - The smooth way to boost tax-efficiency
LV are here to help you grow your clients savings while reducing the impact of volatility, and with their Smoothed Bond you can make the most of its unique features to do just that. Designed to provide long-term steady to moderate growth, with very low to medium level risk investment.
Fidelity Adviser Solutions: Considerations around pension contributions
Paul Squirrell, Fidelity Adviser Solutions pension expert, runs through many of the considerations relating to pension contributions for 2023/24. This includes the annual allowance and how tax relief is applied across the various types of contribution, tapered annual allowance, MPAA and the tax charge.
Prudential: Tax Landscape 2023 and beyond
We are now settled into a new tax year and having had a breather (?) it is maybe time to take stock and see where the tax landscape lies and most importantly where the key areas are for the financial planner.
Advising Trustees Event
Providing advice to trustees is a different ball game to advising individuals and one of the most commonly asked questions is 'What can the trustees invest in?' While this is a pertinent question that needs answered, the equally important questions of what the trustees should be investing in is often overlooked.
Prudential: Tapered Annual Allowance - threshold and adjusted income
Explore key infromation on tapered annual allowance for high income client pensions. Learn more about threshold and adjusted income with PruAdviser.
Prudential: Taxation of pension income
Is pension income taxable? Read this guide from PruAdviser that outlines how pension income is taxed as earned income using PAYE.
Prudential: Inheritance Tax and Pensions
Explore the areas where pensions have inheritancce tax implications with PruAdviser. Pension schemes as settled property, IHT and annuities and more.
LV= Wealth and Wellbeing Research Programme - 11th edition
During a period of high inflation, a cost of living crisis, and uncertainty in the markets, the Chancellors statement was highly anticipated.
Pru: Individual Savings Accounts (ISAs): planning ideas
Maximise your clients' ISA subscriptions with these ISA planning ideas from PruAdviser. Learn more about last-minute subscriptions and ISA subscription dates.
Lifetime Allowance where are we, where are we going and what to do? (90 minutes)
Spring Budget 2023 has meant a seismic change on the pension tax landscape with the intention to remove Lifetime Allowance charges in 2023/24, then completely abolish the Lifetime Allowance from 2024/25.
Pru: Understanding the 5% Tax Deferred Allowance for Bonds Q&A
Get a better understanding of the 5% tax deferred withdrawal allowance for bonds with the help of this Q&A article from PruAdviser.
Pru: Income Tax Personal Allowance Planning
Plan your clients' income tax personal allowance with PruAdviser by reducing adjusted net income.
Pru: Gifting and Inheritance Tax
Learn about PETs and CLTs, their interaction with each other and the impact these gifts have on Inheritance Tax in this detailed guide from PruAdviser.
Pru: What duties do trustees have when investing trust funds?
Find out more about the overriding duties of trustees in relation to investments from duty of care to investment objectives.
Royal London: Carry forward where do people go wrong?
Fiona Hanrahan, Intermediary Development and Technical Manager at Royal London outlines the mistakes to avoid when using carry forward this tax year end.
Tax relief and the pension annual allowance
Technically, theres no limit to the amount of pension savings that can be made by an individual in any tax year. However, there is a restriction on the contributions that can receive tax relief. Theres also an overall limit on all contributions that are tested against the annual allowance. Both limits need to be considered and its often a good idea to look at each separately. Read the full Fidelity Adviser Solutions' article. 5- min read
Quilter: Managing tax allowances effectively
With most tax allowances being frozen and some even reduced post this tax year end, your advice is more important than ever. Following a year of volatility there is also a unique opportunity to realise losses now to soften the blow of the falling CGT allowance in the future.