Industry news and views from Panacea and our partners.
Tax, Trust & ISA_
FundsNetwork: Explaining how pension withdrawals are taxed
To aid your client conversations, download FundsNetworks guide 'Explaining how pension withdrawals are taxed'.
NS&I increases interest rates on ISA products
NS&I has announced that it is increasing interest rates on both its Junior ISA and Direct ISA. Interest rates paid on Junior ISA will be increasing by 75 basis points from 2.50% AER to 3.25% AER.
Old Mutual Wealth: Isa Cashback offer 2018/19 promotional support is on hand
Open to new and existing customers, we have a great ISA offer your clients can take advantage of in the run-up to tax year end. Running between 12 December 2018 and 31 July 2019, if your client transfers or re-registers an ISA (or several ISAs) worth £100,000 or more from another provider we will pay them a cashback amount of up to £1,000.
FundsNetwork's guide to pension and ISA allowances
FundsNetwork's guide to pension and ISA allowances can help support your conversations with clients at this time of the year. It sets out the key information your clients may need about tax, to understand how they can make the most of their savings. You'll find this guide under the 'Client' segment in both the 'Pension' and 'ISA' sections of FundsNetwork's tax year end support zone.
Old Mutual Wealth: Five tax tips that demonstrate the value of advice
Never has it been more important to clearly demonstrate the value of advice. Peace of mind is hard to quantify. The amount of tax saved is not.
Aegon: We can help with tax year end planning
5 April is fast approaching, visit our tax year end zone to find all the resources you need to maximise the opportunities. You can also watch our webinar where our technical experts Elaine Cruickshank and Martin Haggart talk about the different financial planning opportunities at tax year end. If you view the webinar you can qualify for 45 minutes of unstructured CPD time, subject to verification.
Targeting EIS Tax benefits and returns with Blackfinch
Updated government requirements mean schemes can meet client needs with significant return potential alongside access to EIS tax benefits. A need for EIS investment Clients continue looking to Enterprise Investment Schemes (EIS) as powerful tax planning tools. Recent legislative changes mean they can also take a fresh approach to risk with a greater potential for gain.
Aegon: Tax Year End = Opportunity
For everything you need to make the most of the opportunities on the Aegon Retirement Choices (ARC) platform, just visit Aegon's tax year end zone. It has all the resources you need, including:
Prudential: Finding the perfect B&B
The internal fund tax of wrappers such as bonds and Open Ended Investment Companies (OEICs) can be confusing. Heres a simple fact though within an OEIC, no tax is payable on capital gains and instead the client is potentially liable to capital gains tax (CGT) on disposal of shares. Graeme Robb, Senior Technical Manager at Prudential goes into more detail.
FundsNetwork: Pension considerations a step-by-step approach
Calculating pension allowances for your clients, particularly at this time of the year, can be highly complex. FundsNetworks tax and pension experts, Paul Kennedy and Paul Squirrell, discuss how taking a step-by-step approach to identifying different client circumstances, can help to highlight important considerations.
Prudential: Inheritance Tax webinar overview, update, planning & trusts
Register to join one of Prudentials webinar sessions on Thursday 21 February to help you identify new opportunities with your clients.
FundsNetwork: ISA and pension marketing campaigns
Create your own marketing campaigns using FundsNetworks sample letter templates, which highlight the benefits of investing in pensions and ISAs. Then coupled with their range of client guides, you can produce a mailing or email.
Prudential: Age is no barrier
Its currently £3,000 and has remained unchanged since April 1981, back when Shakin Stevens was at number one in the UK singles chart with This Ole House. Graeme Robb, Senior Technical Manager at Prudential goes into more detail.
Old Mutual Wealth: ISA Cashback offer 2018/19
Open to new and existing customers, we have a great ISA offer your clients can take advantage of in the run-up to tax year end.
Old Mutual Wealth: Making the most of the pension funding tax breaks
The tax advantages associated with registered pension schemes can be enormously beneficial in helping members to secure their financial future.
FundsNetwork: Your pension and ISA resources in one place
FundsNetwork has launched a dedicated support zone that includes a wide range of useful materials for this time of the year. It provides resources to help planning and aid client discussions, so that they can utilise valuable pension and ISA allowances.
Royal London: Paying lifetime and annual allowance tax charges isnt always a bad thing - Royal London
Find out how paying annual and lifetime allowance tax charges can still make your clients better off in retirement.
Tax year end planning support hub
With another tax year end on the horizon, Prudential have packaged up the support you need in one place in their new and improved hub. Youll find a range of handy tools, tips and technical insight, including the most common tax year end questions their technical experts answer at this time of year.
Octopus: Doing due diligence on VCTs
Youve identified a client that could benefit from a VCT. Youve talked them through how a VCT could help and the associated risks. You might then have a client looking to invest in a VCT.
FundsNetwork: Tax year end - Client guide to pension and ISA allowances
To support discussions with your clients, FundsNetworks latest guide to pension and ISA allowances, provides clear and concise information on the importance of maximising the allowances available. It can be downloaded from both the pension and ISA sections of their tax year end support hub.
FundsNetwork: All the tools you need for tax year end
FundsNetwork's tax year end toolkit contains all you need to help your business during this busy time and to ensure clients fully use their valuable annual allowances.
Old Mutual Wealth give the gift of financial frankness this christmas
Rachael Griffin, tax and financial planning expert, shares her top five tips on how to encourage your clients to break the taboo around money and have conversations this Christmas which could have a lasting impact on the whole familys future.
Old Mutual Wealth ISA cashback offer 2018/19
Open to new and existing customers, we have a great ISA offer your clients can take advantage of in the run-up to tax year end. Transfer an ISA worth £100,000 or more to us by 24 May 2019 and well make a cash payment of up to £1,000 to your client.
Have you seen Prudentials Life Events hub
Recognising that its important youre there for your clients at key milestones they reach and challenges they face, check out Prudentials Life Events hub.
FundsNetwork: Dealing with tax in relation to pension withdrawals
HMRC has had to repay £372.5m of overpaid tax on pension withdrawals since the launch of the pension freedoms, according to FT Adviser (01.11.2018). To support you and your clients, FundsNetwork have created a practical guide explaining how the tax on a pension withdrawals is administered and outlines the process for reclaiming any overpaid tax.
FundsNetwork: Calculating capital gains
In his latest video (18 Minutes), Paul Kennedy, FundsNetworks Head of Tax & Trust Planning, talks about the complexities of calculating capital gains.
Prudential: Leaving on a jet plane what does this mean for tax relief on future pension contributions?
My bags are packed and Im ready to go but is there anything I should do about my UK pension before I move overseas?
Prudential: Pensions and IHT planning
As Roy Jenkins (the former Labour Chancellor of the Exchequer) once said on inheritance tax (IHT) it is, broadly speaking; a voluntary levy paid by those who distrust their heirs more than they dislike the Inland Revenue, whilst the Inland Revenue is now called HMRC, the principle still applies.
FundsNetwork: Tax tables 2018/19
Find all the tax rates and thresholds you need in FundsNetwork's 2018/19 tax tables. Also included are the Scottish income tax rates.
Prudential: Duty Calls
When running a trust, its a fundamental duty of trustees to invest the trust fund so that the beneficiaries interests (whether in terms of income or capital appreciation) are enhanced. Graeme Robb, Senior Technical Manager at Prudential goes into more detail.
Prudential: Its all about the IIP
Before the radical trust changes in 2006, most insurance companies issued flexible interest in possession trusts (IIP). Helen OHagan, Technical Manager at Prudential goes into more detail.
Prudential: Thats a relief or is it?
Clients wishing to mitigate a potential Inheritance Tax (IHT) liability have a dilemma. Should they reduce the value of the estate through the tried and tested method of gifting, or invest in assets potentially qualifying for IHT Business Relief? Graeme Robb, Senior Technical Manager at Prudential explores further.
Royal London: Could your clients fall into the taper trap?
Jim Grant looks at how the tapered annual allowance could affect your clients with higher incomes.
Prudential: Loan Trusts for Inheritance Tax Planning
A loan trust is a way of setting up a trust for Inheritance Tax (IHT) planning whilst allowing the settlor (the individual who sets up the test) access to the original capital. Helen OHagan, Technical Manager at Prudential explores further.
Prudential: Intergenerational Planning ideas
Prudential are running two different webinars on Tuesday 24 July 2018, designed to highlight opportunities for you to discuss with your clients. Heres what you can expect from both sessions.
Prudential: A matter of life and death
The Office of Tax Simplifications is very busy these days. Graeme Robb, Senior Technical Manager looks at its recent Business Lifecycle Report and why it has concerns about Entrepreneurs Relief.
Prudential: And so it begins
Following Philip Hammonds letter to the Office of Tax Simplification (OTS) asking for a review of Inheritance Tax, a consultation has been issued to gather information and to look into opportunities to simplify it. Graeme Robb, Senior Technical Manager at Prudential looks into it further.
Prudential: The trials and tribulations of parenthood aka the High Income Child Benefit Charge
A recent tax tribunal decision and general day to day parenting combined in my mind to once again highlight the potential pitfalls of receiving child benefits, and ways that impacts of losing this can be mitigated. Mark Devlin, Senior Technical Manager at Prudential explores.
Prudential: Thoughts about bonds
A bond is normally a single premium whole of life contract which offers many features and benefits. In Helen OHagan, Technical Manager at Prudentials opinion, heres some of the salient features of bonds.
Prudential: Has it really been 12 years already?
Pensions simplification promised to remove the complex rules and multiple maximum benefit calculation regimes that existed prior to 6 April 2006. So how has our relationship with the changes that were introduced developed over the last 12 years? Jacqueline Clezy, Technical Manager at Prudential explores.