2021-07-06T11:36:41+01:00July 6th, 2021|

Understanding the role of a wealth manager during divorce

A wealth manager is qualified to help with the difficult financial decisions during, and after, a divorce. Some individuals are sufficiently experienced to navigate these decisions unaided. But if that is not you, or you simply do not have the time, then you may need to take some advice. Here we explain what wealth management advice is, how to engage with a wealth manager and what you can expect in return.

2020-03-12T16:35:17+00:00March 12th, 2020|

Budget Summary 2020

Many of the changes in yesterday’s Budget had been previously publicised, even before the current Chancellor took office barely a month ago. The remainder of the Budget was a post Covid-19 government spending package the likes of which we have not seen for a while.

We have summarised what we think are the highlights.

2020-02-28T10:35:17+00:00February 17th, 2020|

Pensions – Estate Planning and Inheritance Tax

Defined contribution (DC) pensions offer valuable legacy planning opportunities, but it’s vital that DC pension holders and their advisers act early to utilise these benefits.

Here we highlight the potential tax advantages of planning early.

2020-02-28T10:35:48+00:00January 27th, 2020|

The trouble with ERI

It’s fairly common for investors hold offshore investment funds in their portfolios. Investors, however, may be unaware that some of their offshore funds could be accumulating income (that is never distributed) that needs to be included in their UK tax return.

Here we highlight the different types of offshore funds and how to remain tax compliant.

2020-02-28T10:36:34+00:00January 17th, 2020|

Pensions and divorce – looking beyond the settlement

The splitting of pension assets on divorce is complex but with careful planning, it’s possible to identify outcomes that will stand the test of time, for both parties.

Here we look at the main tax implications of pensions (the Lifetime Allowance, Pension Protection and the Annual Allowance) and where the opportunities, and problems, arise both during and after divorce.

2020-02-28T10:37:28+00:00November 21st, 2019|

Pension Annual Allowance

The 6th April will re-set the clock on the annual pension contribution allowance. It’s therefore the time of year to work out what additional income tax relief may still be available from pension contributions. Relief at higher rates of income tax can be significant. But those on higher earnings are subject to a tapering of their Annual Allowance. It’s not a straightforward calculation, with plenty of blind spots which could lead to penalties on excess contributions.

2020-02-28T10:37:41+00:00October 16th, 2019|

Tax efficient life cover for business owners and high earners

Most businesses offer death in service benefits as part of their overall remuneration package. What can often be overlooked is that these schemes are usually set up on a similar basis to a registered pension scheme and could result in additional tax charges of up to 55% in the event of a claim.

Here we highlight how a relevant life policy could be an effective alternative to group life assurance cover.

2020-02-26T13:39:21+00:00September 25th, 2019|

Life assurance – the guaranteed way to cover UK inheritance tax liabilities

Life assurance has proved to be a dependable and non-controversial way to fund future UK inheritance tax liabilities. Can it be as simple as getting through the medical and paying the premiums?

This briefing note looks at the advantages and disadvantages of life assurance and how it can be used to help mitigate UK inheritance tax.

2020-02-28T10:40:35+00:00August 12th, 2019|

Defined Benefit Pensions – Should I stay, or should I go?

Defined Benefit (DB) pensions provide secure index-linked income for life. So why are so many people tempted to give up this guaranteed income for life?

Here we highlight some of the reasons why it could be suitable to transfer benefits from a DB pension to a defined contribution (DC) arrangement.

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The value of investments and the income arising from them can go down as well as up and is not guaranteed, which means that you may not get back what you invested. Past performance is not necessarily a guide to the future. The information contained in this website does not constitute advice. The FCA does not regulate tax advice. The FCA does not regulate advice on Wills and Powers of Attorney. The Financial Ombudsman Service is available to sort out individual complaints that clients and financial services businesses aren’t able to resolve themselves. To contact the Financial Ombudsman Service please visit www.financial-ombudsman.org.uk.