TRUSTEE FORMS AND REPORTING REQUIREMENTS Trustees have a number of duties to fulfil which include the need to satisfy certain compliance and reporting requirements during the duration of the trust. This article looks at trustee reporting requirements in light of what documentation needs to be completed and submitted to HMRC or given to a beneficiary. […]
Latest statistics from HMRC show that the number of estates where 10% or more of the net chargeable estate passes to charity is low compared to the number of estates chargeable to inheritance tax. The reduced rate of inheritance tax at 36% applies where 10% or more of the net chargeable estate is left to […]
Individual savings accounts (ISAs) Proposals made in the Budget Help to Buy: ISA To help as many people as possible realise their aspirations of home ownership, the Help to Buy: ISA was announced at Budget 2015. This supports people saving up for their first home by providing them with a maximum government bonus of £3,000 […]
Getting the right life insurance policy means working out how much money you need to protect your family or dependants. This sum assured should take into account your living costs, as well as any outstanding debts/loans, such as a mortgage. We hope this guide helps you understand the different types of policy available and will […]
BUDGET 2015 (CON) Synopsis: The pensions minister expresses her views on pensions reform It has been reported that the pension’s minister, Ros Altman, seems set against the development of a merged pensions/ISA product with no constraints on when withdrawals were taken, no tax relief on contribution and no tax on withdrawal. She was commenting on […]
We’re excited to announce that this website has been listed as one of the top 25 contenders for the Best Advisor Websites 2015 by Professional Advisor. Professional Advisor describe what they are looking for as, ‘There are many ‘things’ a good website should offer. These range from the obvious: simple navigation; contact details and good […]
Please find a summary of the 2015 Summer Budget. As always there is plenty of small details to digest but we thought you’d like to see a summary of the headlines. For ease of navigation we have listed each topic we have summarised below. We have also avoided pictures in order to make the copy […]
AUTOMATIC ENROLMENT Synopsis: NEST Web Services will revolutionise auto enrolment for SMEs. NEST has recently revealed new functionality which revolutionises the way that employers can meet their auto enrolment duties. The new functionality, called NEST Web Services, enables employers to manage their NEST account seamlessly through their payroll software, taking the hard work out of […]
AUTOMATIC ENROLMENT Synopsis: Legislation published to remove the annual contribution limit and the transfer restrictions on NEST. The National Employment Savings Trust (Amendment) Order 2015 (2015/178) has been published removing the annual contribution limit and the transfer restrictions on NEST with effect from 1st April 2017. The National Employment Savings Trust (NEST) was set up alongside […]
PENSION REFORM 2014/15 Synopsis: The newly generous treatment of pension death benefits are prompting some creative ideas about the use of pensions in estate planning. Whether they could be applied in practice is open to question. Date posted: Friday, May 01, 2015 The changes to the tax treatment of pension scheme death benefits that came […]
