2020-02-28T10:41:32+00:00April 13th, 2018|

When life assurance leads to a tax charge on pension death benefits

It is not uncommon for beneficiaries and their executors to find that pension benefits are subject to an unexpected lifetime allowance tax charge. This may be due to a pay-out from a death in service scheme, which may seem odd to those who have not yet seen this in practice.

In this Briefing Note we highlight how those potentially affected – higher earners with significant pension assets – should do to avoid this additional tax charge on death.

2020-02-28T10:41:51+00:00October 18th, 2017|

Business loan protection

Good risk management includes planning for events which might seem unlikely today but which could have a huge impact on the business.

Yet a recent report by Legal & General shows that 35% to 48% of UK SMEs do not have adequate cover to protect their debts in the case of death of a shareholding director.

Here we explain why business loan and key person protection plans should form part of a company’s risk management plan.

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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.

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