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Chartered Insurance Institute
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Personal Finance

Domicile and trusts: review of recent changes II »
In this second part of an update on the recent changes related to domicile and trusts we will look at some specific planning strategies that are still relevant to those who are UK resident but not UK domiciled and not UK deemed domiciled. Before we get down to specifics though an update on the case which was mentioned in last month's article, namely Proles v Kohli,   as we now have the decision.  As explained last month the issue of a person's domicile is relevant to claims under the Inheritance (Provision for Family And Dependants) Act 1975.
My PFS - Technical news - 01/05/18 »
Personal Finance Society news update from 12th April to 25th April 2018.
Business succession planning and option agreements »
Introduction Business succession planning is relevant to sole proprietors, partnerships, limited liability partnerships (LLPs) and limited companies.  It is geared towards setting up a business protection arrangement to provide for the smooth transfer of a business interest in the event of a business owner’s departure from the business whether on death, critical illness or disability, planned or otherwise; and at the same time ensuring that appropriate financial compensation is provided to the deceased’s family (on death) or the incapacitated owner (eg in the event of critical illness).  In general, the implications for sole proprietors are different from those which apply for those who own a business with others.
Lifetime Allowance excesses »
With the drop in the lifetime allowance over recent years more and more of my conversations are focused on those that have exceeded the lifetime allowance. There are those that will not have applied or protection for one reason or another or invalidated protection they did apply for.
New tax year pension tasks »
Now we are in the new tax year it will soon be possible to get a grip on what allowances are remaining from the 2017/18 tax year with regards to the annual allowance and to check pension contributions for the previous years.   For those not subject to the tapered annual allowance it should have been possible to get accurate figures before the end of the tax year for any money purchase schemes and contributions but for those subject to the taper any small amount of taxable income will have an impact to the available annual allowance and therefore use of any carry forward from previous years.
Insurance gender pay gap »
The Chartered Insurance Institute analyses the insurance sector's gender pay gap and provides guidance to members on how to fix it.
Mortgage market review - April 2018 »
Mortgage market update for April 2018
Protection market review - April 2018 »
Protection market update for April 2018
My PFS Technical news 17/04/18 »
Personal Finance Society news update from 29 March to 11 April 2018 providing the latest information on taxation and trusts, investment planning and pensions.
Domicile and trusts: review of recent changes I »
A lot has happened in the last couple of years as regards the tax treatment of non-UK domiciled individuals as well as offshore trusts. Now that almost all of the changes have come into effect (the latest from 6 April 2018) it is a good time to review the issues relevant to those who are or have been affected by those changes. Principally we are concerned about individuals who are not domiciled in the UK but are either resident in the UK or own property here. This month we will concentrate on the fundamentals and next month we will consider some specific planning strategies that are still relevant.
My PFS Technical news - 03/04/18 »
Personal Finance Society news update from 15 - 28 March 2018 providing the latest information on taxation and trusts, investment planning and pensions.
Bypass Trusts and the 45% special lump sum death benefit charge »
As is well known, in the case of a member of a pension scheme dying aged 75 or over and a lump sum being paid to a personal discretionary/flexible trust (such as a by-pass trust), a 45% SLSDBC income tax charge will arise. On later payment of some or all of this amount to a beneficiary, the beneficiary will be taxed on the grossed-up amount but be entitled to a credit for tax previously suffered by the trustees.
Personal tax changes effective from 6 April 2018 »
A reminder of some of the less publicised changes to personal taxation, effective from 6 April 2018, which may impact on the clients of financial advisers.
Protection market review - March 2018 »
Protection market update, including; news, regulation & legislation, product development & innovation, consumer trends and experts corner.
Mortgage market review - March 2018 »
Mortgage market update for March 2018, including; news, regulation and legislation, product development and innovation, consumer trends and experts corner.



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