Industry news and views from Panacea and our partners.
Tax, Trust & ISA_
Quilter: How to avoid the pitfalls of IHT
An unexpected inheritance can be overwhelming for your clients. Financial advice at a time like this can take some of the weight off their shoulders, and careful IHT and trust planning can ensure the inheritance lasts through the generations.
Fidelity Adviser Solutions: Talking points The latest technical insights in one place
A summary of Fidelity Adviser Solutions' latest insights for tax year end.
Quilter: Join our QTalk on 'Inheritance Tax a problem waiting to be solved'
nheritance planning is the biggest driver for someone to seek financial advice with 80% of people* saying they would seek financial advice when inheritance planning.
Royal London: The Rysaffe Principle
'Rysaffe principle' is a way of using multiple trusts to reduce the Inheritance Tax payable as each trust has its own nil rate band.
Tax year end - your top questions answered (60 minutes)
We look at how to solve common tax year issues and answer your frequently asked tax year end questions.
The Business Owner at Tax Year End Questions (90 minutes)
For many business owners, Tax Year End is a time to take stock of their financial years and make final decisions on their remuneration. Many may well have investments held within their business that may need attention.
Quilter: Why you should use Onshore bonds in trust planning
Using onshore bonds, like our Collective Investment Bond (CIB), inside a trust is a real financial planning sweet spot as they can deliver more advantages than other solutions held inside a trust. Not only can distributions to beneficiaries be very tax-efficient, they are much easier for trustees to administer as there is no income for trustees to report.
Pru: Ask the Techs Live
Thursday 9 February: Its our 4th Tax Year end webinar. From share pooling to multiple gifts, annual allowance to ISA wrapping questions will have been coming in thick and fast if previous tax year ends are anything to go by.
Royal London: Welcome to our tax year end hub
We know how busy you are at tax year end, so weve created a resources hub to make your life a little bit easier.
Fidelity Adviser Solutions: CII AF1 exams are fast approaching
For those of you taking the AF1 exam this February, why not check our video training resources with industry expert Sue Cox. The series includes 12 personal tax and trust planning videos, covering everything from Capital Gains tax to exam techniques.
Fidelity Adviser Solutions: Financial planning framework
Fidelity Adviser Solutions checklists are designed to highlight financial planning considerations for Pensions, ISAs and Investment Accounts when approaching the end of the tax year. For instance, while there is no limit to the amount that can be saved into pensions each tax year, there is a limit in respect of the contributions that can potentially receive tax relief.
Fidelity Adviser Solutions: Webinar replay: Planning considerations at tax year end
Catch up on Fidelity Adviser Solutions recent webinar where Paul Richards and Paul Squirrell discussed the use of all the various allowances and any limits and calculations required, capital gains management in light of the Autumn Statement and cash and investment phasing options.
Prudential: Important things to think about at Tax Year End
Tax year end is a busy time for the financial planner, so our M&G Wealth Technical team have recorded a series of videos covering better outcomes for clients. Look out for an email each day with a link to the next video in the series.
Prudential: Tax Year End Planning
Thursday 2 February: In this webinar, the M&G Wealth Technical Team will take a look at pension funding for those pre, approaching and in retirement. For those with one eye on the frozen Inheritance Tax (IHT) allowances, well take a look at what can be done from an IHT point of view.
Fidelity Adviser Solutions: Tax year end planning tools and resources
With changes to UK taxation, many allowances and thresholds will be cut or frozen in 2023/24 and so it is more important than ever that clients maximise their allowances before the end of the tax year. To support you, Fidelity Adviser Solutions tax year end hub has everything you need to keep your business moving during this busy time. Youll find Pension and ISA materials, client reporting, management information reports and tax tables all in one place. Visit the hub
Fidelity Adviser Solutions: The tax year planning webinar: final week to register
Join us for a 45-minute live webinar on Thursday 19 January. Fidelitys Paul Richards and Paul Squirrell will discuss the use of allowances, including considerations for limits and calculations required and options for investing during market uncertainty. You can also submit your questions in advance of the discussion when you register.
Prudential: Top ten things to think about at Tax Year End
Tax year end is a busy time for the financial planner, so our M&G Wealth Technical team have recorded a series of videos covering better outcomes for clients.
What is a family investment company and how does it compare to a discretionary trust solution?
High Net Worth individuals with large estates might consider using a UK resident family investment company as part of an IHT planning strategy. Those with a modest potential IHT liability are unlikely to use a family investment company due to the legal and professional costs involved.
Fidelity Adviser Solutions: Changes to UK taxation and the potential impact on clients
As the dust settles on the fourth budget of 2022, Fidelity's Paul Squirrell looks at some of the financial planning considerations as a result of the proposed changes to UK taxation. While pension legislation escaped further changes, there could still be some planning adjustments required for some individuals especially as we approach the tax year end.
Family Investment Companies versus Discretionary Trusts for IHT planning (90 minutes)
Family Investment Companies dont trade; they invest. Accordingly Inheritance Tax (IHT) Business Property Relief' will not be available to shareholders. Nevertheless, they can be used by High Net Worth individuals for IHT planning. On this session, Graeme Robb, Senior Technical Manager explained why they can be used as part of an IHT planning strategy, and how they compare to discretionary trusts which have traditionally offered flexibility for IHT planners.
Everything you want to know about tax year end planning and werent afraid to ask
Over the second and third weeks in January we've been sending out our top ten planning tips for tax year end. These, and the general fact that it's tax year end, means we see a lot for questions related to planning at this time.
Prudential: Everything you want to know about tax year end planning and werent afraid to ask
Over the second and third weeks in January we've been sending out our top ten planning tips for tax year end. These, and the general fact that it's tax year end, means we see a lot for questions related to planning at this time.
UK Trusts, taxation and registration
On hearing that newly crowned King Charles III with not see any of his inherited wealth being diminished by way of IHT, this reminded me that I was asked recently to provide some information to HMRC about a family trust.
Who and How all you need to know about the Trust Registration Service (1 hour 45 mins)
On this webinar Les Cameron, Head of Technical at M&G Wealth took us through the 4th and 5th directives, giving everything you need to know to help assist trustee clients with their responsibilities.
Talking Trusts Access v Control v IHT (1 hour 42 mins)
While the nil rate band and residence nil rate band frozen until the 5th April 2026 this doesnt mean the value of your clients assets will do the same. For those who are concerned about IHT delaying taking any action is only going to increase their IHT bill, decreasing the amount of the estate that can be passed onto family on death.
Planning landscape (89 minutes)
2022 sees changes to dividend taxation, National Insurance and Corporation Tax changes starting to be felt by companies and their owners. With these changes and the current economic climate Les Cameron, Head of Technical at M&G Wealth, spoke about the impact on three key areas of financial planning, namely company investments, profit extraction and intergenerational wealth planning.
Fidelity Adviser Solutions partners with Origos Integration Hub
Fidelity Adviser Solutions are delighted to have partnered with the Origo Integration Hub providing Straight Through Processing (STP) for account opening and trading services. The partnership enables you to streamline the process by saving time, reducing costs, and mitigating the risks associated with the re-keying of information.
Ingenious webinar: Improving client outcomes with IEP Apex
Join us next Thursday, 28 April to learn how IEP Apex the only BR service with no-cost IHT cover built in can help you improve outcomes for your clients and their beneficiaries.
Ingenious: IEP Apex has your clients covered
Business Relief (BR) qualifying investments are very popular with advisers and investors as the investments are free of Inheritance Tax (IHT) liability after two years, much quicker than other estate planning solutions. Whilst this is appealing, an investor still has a two year wait for the investment to become BR-qualifying.
Ingenious: Introducing IEP Apex: A new type of BR service with no-cost IHT cover from day one
If you had a choice between a BR service that took the usual 2 years to qualify and one that provided complimentary Inheritance Tax (IHT) cover immediately, day one following share allotment, which would you and your clients choose?
Fidelity Adviser Solutions: New: Tax tables 2022/23 available
Fidelity Adviser Solutions' 2022/23 tax tables are now available, with all the rates and thresholds for the coming year. Make sure to download your copy.
Prudential: Trust and Inheritance Tax (IHT) modeller
We have just launched our new Trust and Inheritance Tax (IHT) modeller. This tool allows you to estimate the potential Inheritance Tax liability for one or two individuals, demonstrating the impact gifting part of their estate into trust would have on their overall IHT liability. Its online today and you can go and have a play with it or get in touch with your Account Manager for a demo.
Prudential: Discounted Gift Trusts: payments to beneficiaries
Considerations for trustees when contemplating a payment to a beneficiary of a Discounted Gift Trust (DGT) while the settlor is still alive.
Fidelity Adviser Solutions: Tax year end checklists - your financial planning framework
Fidelity Adviser Solutions have designed checklist to help highlight financial planning considerations for Pensions, ISAs and Investment Accounts when approaching the end of the tax year.
FundsNetwork: Tax year end 2022 webinar: helping you every step of the way
The build up to tax year end remains a key period, as you meet with clients and help them maximise valuable pension and ISA tax allowances. Fidelity FundsNetwork are here to help you every step of the way and theyd like to kick start 2022 by inviting you to a webinar to show you all the support they have available.
FundsNetwork: Dont let clients get caught by the lifetime allowance tax charge
The pension lifetime allowance (LTA) and the planning that surrounds it is far from straightforward. The amount has changed lots of times over the years and many more clients are affected by it than they once were. However, by ensuring that a client has utilised any LTA protection or available enhancements and by considering how these benefits are taxed, the impact may be reduced.
FundsNetwork: Help with your due diligence
To help facilitate your due diligence, or if you're new to Fidelity FundsNetwork, they have a range of guides around their Pension, ISA and Investment Account. They've also created a checklist covering 12 security-related questions they recommend you ask your platform partner to help your due diligence around keeping your clients' data and assets safe. But if all you need is a quick overview, their one-page summary explains how they support adviser firms and includes details of their latest enhancements.
Prudential: Trust Registration Service (TRS)
Learn about the requirements of the TRS which became operational on 13 July 2017.
Prudential: Planning for education
The estimated cost of one years University education is £20,000.