18th July 2017

Welcome to Prudential’s July edition of Oracle Technical.

For those of us ‘up north’, summer holiday season is already in full swing. Les Cameron, Head of Technical at Prudential is fully refreshed, from a couple of weeks contemplating life on his sun lounger (in Zante, not Scotland!). In any event, there’s no rest for the wicked and Prudential’s technical helpline remains open – 03457 11 12 13 – to help resolve any generic technical queries you may have on life and pensions matters.

Ministers confirmed that the second 2017 Finance Bill will be introduced as soon as possible after the summer recess which ends on 5 September. This will legislate for all policies that were included in the pre-election Finance Bill which was slimmed down due to the election. 

The government has also re-confirmed that all policies originally announced to start from April 2017 will be effective from that date.

The ‘questions from the helpline’ section of Oracle Technical is always popular and insightful and in this month’s edition, Sam Niblo considers the rules around PCLS, UFPLS and the LTA. No acronyms on the life side though as Neil McLeod revisits the subject of assignments of life policies/bonds. Regular readers may be aware that in June, he focused mainly on assignments between individuals. This month he deals with assignments involving trustees, personal representatives and companies.

Also on the life side, Helen O’Hagan continues her “what” of trusts journey and considers excluded property trusts. Graeme Robb’s “summer snippets” article considers a few items of current interest for advisers.

The pensions team also contribute a couple or articles. Jacqueline Clezy explores the annual allowance limit where both a tapered annual allowance and the money purchase annual allowance apply. Mark Devlin turns his attention to CP17/16 and summarises the main talking points.

Read the full edition here. 

Investment Commentary, Investments