Industry news and views from Panacea and our partners.
Tax, Trust & ISA_
Scottish Provident: Will your clients be caught in the inheritance tax trap?
It has been reported that hundreds of thousands of homeowners, notably in London but also elsewhere, will be liable for inheritance tax (IHT) within the next six years because of soaring house prices and the current freeze on the IHT threshold.
Scottish Life: Help your clients to avoid hefty tax charges
If a client has paid more into their pension than their annual allowance, they may be able to avoid tax charges by carrying forward unused annual allowance from previous years.
PruProtect: Tis the season to
December 31st does not only mark the end of the current year for us all individually, but for many companies this date is also the end of their financial trading year. In this article, PruPotect explores how planning in the lead up to this deadline can bring tax advantages to your clients using their newly enhanced Relevant Life Policy
Canada Life: The devil is in the detail ongoing adviser charges
So far, weve looked at an investment bond, a discounted gift trust, and a gift and loan trust. Lets now look at adviser charges on a flexible reversionary trust.
Canada Life: Adviser charging and the loan arranger
So far in this series of articles, weve looked at the situation with adviser charging for an investment bond and a discounted gift trust. Now let us consider the peculiarities of making an interest-free loan to trustees.
Scottish Provident: Pegasus Whole of Life opportunities for you
A whole of life protection plan gives your clients peace of mind and is designed to make a payment whenever they die. But why do they need this type of cover? It could be for inheritance tax planning or simply to leave a legacy for their grandchildren.
Canada Life: Some for you and some for me...
Although product- and provider-facilitated adviser charging for a bond taken out purely for investment purposes is reasonably straightforward, complications can be introduced where the bond is made subject to a trust. The following case study illustrates how both initial and ongoing adviser charges can be collected where the investment bond is issued subject to a discounted gift trust.
L&G: Turning savings into income
Identifying tax-efficient investment strategies that can provide regular income can be challenging. The choice of funds, wrappers and trust solutions can all play a part in making this an important but seemingly complex task.
Canada Life: Show me the money
Now that we are well and truly in the Brave New World that has been created by the Retail Distribution Review, we will quickly need to learn how to cope with the absence of both initial and trail commission for advised sales of investment bonds.
Avalon News
AIM (formerly Alternative Investment Market) funds and investments have been approved for use within ISAs and are now available on the Avalon platform.
Canada Life: A tax deferred is a tax saved
Brian is an employee who has inherited a lump sum of £100,000. Although he is a higher rate taxpayer at present, as a member of his employers defined contribution pension scheme
L&G: Protecting income and conserving wealth through tax and trust planning.
We would like to invite you to our next paraplanner webinar which will take place at 11.00am on 8 October 2013 with Brian Lewis - Legal & General's Investment Development Manager.
L&G: Tax planning isn't just for the end of the tax year!
Tax Action 2013 research by unbiased.co.uk reveals consumers are set to gift an unnecessary £4.6 billion by not being tax efficient
Viva la Retirement ISA revolution
FundsNetwork Head of Marketing, Klare Baldwin, examines how the industry has entered a revolutionary era of the Retirement ISA a positive thing especially for the consolidation and decumulation market.
Canada Life: Collective investments losses and capital gains tax calculations - part 2
This is the second of three articles on collectives and this week we will look at losses and how to work out if you have capital gains tax (CGT) to pay.
Canada Life: Collective investments and capital gains tax - part 1
This is the first of three articles on collectives and well start by setting out the rules relating to capital gains tax (CGT) and working out gains.
Canada Life: Making use of the personal allowance
At the start of a tax-year everyone is entitled to a personal allowance, meaning that the first £9,440 of income is usually free of income tax. For those individuals born before 6 April 1948 this amount increases but is reduced if their income exceeds £26,100. Where income exceeds £100,000 irrespective of age, the personal allowance can be reduced, or even be wiped out altogether.
Canada Life: The right wrapper
When advising a client about a lump sum investment, one of the things an adviser will do is identify the clients objective; such as generating income, potential capital growth or for trust and estate planning purposes.
Panacea welcomes Canada Life to the community
Panacea Adviser is delighted that Canada Life has joined our growing list of partners.
L&G: A guide to being a trustee
Efficiency is doing things right for your clients and, where appropriate, that should mean placing their policies in trust.
L&G: Perception versus reality
Weve just published a new Deadline to Breadline research report. Less than half the people who took part in the survey favoured taking out insurance over relying on their savings; yet our report highlights that 37% of households have no savings.
Scottish Provident: Speedier life claims and the benefits of trusts
Although we always try to pay claims quickly, it can take some time to settle a claim and its even longer when the policy is not written under trust. The main reason for the delay is without a trust its not clear who we should be paying the claim to. But with a small change to our claims process this can all change
FundsNetwork: Taxation of rebates which way now?
Paul Kennedy, Head of FundsNetwork Tax Planning, discusses the effect of the tax position for fund Annual Management Charge rebates and what is the best outcome rebate v clean.
Aviva Platform Users Investment Portfolio Tax Voucher
On Friday 28th June 2013 we will post Tax Vouchers to your Aviva Platform clients holding an Investment Portfolio in line with our regulatory responsibilities.
adviser-hub: New 2013/14 ISA guide for clients
Hot on the heels of the new tax year comes Adviser-Hub's 2013/14 Isa guide a balanced, user-friendly and professionally designed introduction to Stocks and Shares and Cash Isas for you to send out to existing and potential clients.
FundsNetwork: Taxation of rebates to clients latest position
Following HMRC's recent announcement on the taxation of rebates, our tax specialist, Paul Kennedy has provided an initial commentary on the draft guidance.
Legal & General: Trust and adviser fees.
The use of trusts in inheritance tax planning is still a crucial tool for many clients. With advisers now charging for their services, the question of who actually pays the adviser charge and how it is paid will need to be considered very carefully.
FundsNetwork: Proposed abolition of Schedule 19 stamp duty reserve tax
The proposed abolition of schedule 19 stamp duty reserve tax may look a tad dull but is of considerable relevance to investors in UK investment funds
Legal and General: Maximise the opportunity through funding for education
Trusts are extremely useful tools for your clients to plan their financial affairs more effectively.
FundsNetwork support for your clients last-minute applications
With 5 April fast approaching, FundsNetwork will be on hand to help you get your clients applications in on time right up until the final minute of the tax year.
Scottish Life: Helping you make tax less taxing
With time running out before the tax year-end, theres still time to take advantage of the 5 key opportunities weve identified to help your clients benefit from their tax entitlement.
unbiased: £4.6 billion wasted by not being tax efficient
We have launched our annual Tax Action campaign, this year supported by TaxCalc.
AEGON: Transform Ideas New zone
Adviser businesses may think they can do without planning for the future but businesses in our profession now need to be on the lookout for what todays rapidly changing landscape means to them and the clients they deal with.
Avalon latest news
Its now been over a year since the Junior ISA was launched and Chancellor George Osborne confirmed on 5th December a rise in the tax free allowance from April 2013 to £3,720.
Avivas ISA Portfolio A hard-to-beat 0.25% platform charge
With its low 0.25% AMC, the ISA Portfolio on the Aviva Platform is one of the lowest priced platforms of its kind.
L&G: End of tax year is looming - don't let your customers miss out!
With £12.6 billion* set to be gifted to the taxman this year through a lack of tax planning, your clients need your advice more than ever during this time.
Unbiased: Want to be a part of TaxAction campaign 2013?
For 20 years unbiased has been running the TaxAction campaign, highlighting to consumers and SMEs the full extent of tax wastage in the UK!
MetLife: TAX BILL ADDS UP TO £190,400 BY 50
The average 50-year-old has paid £190,400 in direct taxes by the time they celebrate their 50th birthday equivalent to around three-and-a-half times more than theyve invested in their pension, new analysis from MetLife shows.
Jeffreys Henry: Do You Have a 2012/13 Capital Gain?
There is a rare opportunity for 2012/13 only to mitigate Capital Gains Tax (CGT) entirely on up to £100,000 of capital gains on any assets under the Government's new Seed Enterprise Investment Scheme (SEIS).