This document provides an overview of inheritance tax planning strategies. It discusses calculating inheritance tax liability and allowances like annual exemptions and gifts. It outlines the risks of legislative changes and investment volatility. It then presents three strategies to reduce inheritance tax liability: flexible trust planning to gift assets while maintaining control; investing in businesses qualifying for business property relief; and using life insurance to fund any inheritance tax due. Managing an overall inheritance tax plan by reviewing it over time is also emphasized.
Information from a financial perspective for those who are being made or have already been made redundant. Actions they can take and the Options they have
This presentation covers various topics related to financial planning including money management, taxation, pensions, protection, investments, and estate planning. It discusses reviewing expenses and debts, options for topping up pensions, considerations for life insurance and wills, and different types of investments including fixed interest, bonds, and equity-based options. The presentation aims to help people develop a balanced investment strategy and provides next steps for seeking additional advice.
This document provides tax planning strategies for individuals in the current climate. It discusses simple steps that can be taken before April 5th, such as maximizing pension contributions and making charitable donations. It also covers incorporation of businesses and distributing profits as dividends versus salary. The document then discusses reducing estate value through making gifts and using agricultural property relief. It provides an example of transferring land to a trust to save inheritance tax. Finally, it discusses entrepreneurs' relief and using a trust to remove business shares from an individual's estate while still qualifying for the relief.
The document discusses various tax planning strategies for individuals in the current climate. It provides tips for pre-5 April planning including pension contributions and gifts. It also discusses equalizing income, incorporation of businesses, and reducing one's estate through gifts and trusts. An example is given showing how setting up a trust can save inheritance tax compared to making gifts after a property sale. The document concludes with discussing entrepreneurs' relief and its interaction with inheritance tax planning using trusts.
- CGT is payable on capital gains arising from the disposal of chargeable assets above the annual exemption.
- Principal private residences usually qualify for private residence relief except for periods let out or deemed periods of occupation.
- Entrepreneurs' relief provides a 10% CGT rate for disposals of qualifying businesses and business assets up to a £10 million lifetime limit.
- Various reliefs are available such as holdover relief, rollover relief and reinvestment relief to defer CGT liabilities on qualifying transactions.
This presentation summarises the rules governing Inheritance Tax in the UK. It covers a description of the exemptions and reliefs, together with examples to illustrate practical implication.
The document discusses various tax reliefs available in Ireland to reduce Capital Acquisitions Tax (CAT) liabilities for beneficiaries receiving gifts or inheritances. It outlines several reliefs including Business Asset Relief, which can reduce the taxable value of a business gift to 10%; the Dwelling House Exemption, which provides a total exemption for inheriting a principal private residence; and Agricultural Relief, which reduces the taxable value of inheriting agricultural assets to 10%. The document also discusses how the annual gift exemption of €3,000 and planning gifts over multiple years can significantly reduce future CAT liabilities.
USE FAMILY TRUSTS to income split, grow wealth & save taxes, shift income to children & use this tax-free income to pay for expenses of your dependent children or grandchildren; take advantage of CRA low prescribed loan rate of 1% before it goes up...
Information from a financial perspective for those who are being made or have already been made redundant. Actions they can take and the Options they have
This presentation covers various topics related to financial planning including money management, taxation, pensions, protection, investments, and estate planning. It discusses reviewing expenses and debts, options for topping up pensions, considerations for life insurance and wills, and different types of investments including fixed interest, bonds, and equity-based options. The presentation aims to help people develop a balanced investment strategy and provides next steps for seeking additional advice.
This document provides tax planning strategies for individuals in the current climate. It discusses simple steps that can be taken before April 5th, such as maximizing pension contributions and making charitable donations. It also covers incorporation of businesses and distributing profits as dividends versus salary. The document then discusses reducing estate value through making gifts and using agricultural property relief. It provides an example of transferring land to a trust to save inheritance tax. Finally, it discusses entrepreneurs' relief and using a trust to remove business shares from an individual's estate while still qualifying for the relief.
The document discusses various tax planning strategies for individuals in the current climate. It provides tips for pre-5 April planning including pension contributions and gifts. It also discusses equalizing income, incorporation of businesses, and reducing one's estate through gifts and trusts. An example is given showing how setting up a trust can save inheritance tax compared to making gifts after a property sale. The document concludes with discussing entrepreneurs' relief and its interaction with inheritance tax planning using trusts.
- CGT is payable on capital gains arising from the disposal of chargeable assets above the annual exemption.
- Principal private residences usually qualify for private residence relief except for periods let out or deemed periods of occupation.
- Entrepreneurs' relief provides a 10% CGT rate for disposals of qualifying businesses and business assets up to a £10 million lifetime limit.
- Various reliefs are available such as holdover relief, rollover relief and reinvestment relief to defer CGT liabilities on qualifying transactions.
This presentation summarises the rules governing Inheritance Tax in the UK. It covers a description of the exemptions and reliefs, together with examples to illustrate practical implication.
The document discusses various tax reliefs available in Ireland to reduce Capital Acquisitions Tax (CAT) liabilities for beneficiaries receiving gifts or inheritances. It outlines several reliefs including Business Asset Relief, which can reduce the taxable value of a business gift to 10%; the Dwelling House Exemption, which provides a total exemption for inheriting a principal private residence; and Agricultural Relief, which reduces the taxable value of inheriting agricultural assets to 10%. The document also discusses how the annual gift exemption of €3,000 and planning gifts over multiple years can significantly reduce future CAT liabilities.
USE FAMILY TRUSTS to income split, grow wealth & save taxes, shift income to children & use this tax-free income to pay for expenses of your dependent children or grandchildren; take advantage of CRA low prescribed loan rate of 1% before it goes up...
Practical wealth management strategies for Health Care professionals looking to reduce taxes and maximize family estate using tax deferrals, income splitting, incorporation, insurance and Individual Pension Plans, among other strategies.
This powerpoint training is the slides from the webinar I did on the taxing of social security and is placed on our training site.
If you want more training on annuities, selling or building your book of business visit us at www.7figuresalestools.com
This document introduces the "Anti-AnnuityTM", which is described as Single Premium Indexed Universal Life insurance (SPIUL). It summarizes the credentials and experience of the advisors behind the product. The SPIUL is presented as a tax-advantaged alternative to annuities that allows tax-free growth and access to funds. Examples are given showing how SPIUL can be used to create larger tax-free inheritances than other options like annuities. It also describes how SPIUL can be used to avoid taxes on IRA and retirement account funds by transferring them into the life insurance product. Readers are encouraged to schedule a meeting with the advisors to learn more about SPIUL and how it can save on estate
2017 TORONTO Fall Event - Proposed Tax Reform: What You Need to Know (October...Nicola Wealth Management
On October 1, 2017, NWM hosted a group of clients at the Four Seasons Hotel Toronto to discuss Finance Minister Bill Morneau and the Canadian government's proposal for tax reform impacting the majority of Canadian business owners.
NWM President, David Sung, opened the evening with an overview of the proposed tax changes. He provided some context and asked the audience to consider the political undertone of the Liberal government's tax proposal and the way in which they have handled the public push-back.
John Nicola, Chairman & CEO, an overview of what the government is proposing exactly and the impact it will have. He went on to discuss some planning options available to Canadian business owners.
This document discusses retirement planning options for clients. It provides examples of how using enhanced annuity rates through phasing retirement benefits and income drawdown can maximize retirement incomes and death benefits. Specifically, it shows how qualifying clients for enhanced annuity rates from the start or at annual reviews could significantly increase uncrystallized funds over time compared to only using standard rates. It emphasizes asking clients simple medical questions to identify eligibility for enhanced rates to provide better client outcomes and advisor compensation.
Women have unique financial issues and needs. This presentation discusses 15 of the most common misconceptions women have about general financial strategies, retirement and estate planning, insurance, as well as money and relationships. It provides guidance on strategies to help women manage their finances.
This document discusses opportunities for gift and estate planning in 2012 given that beneficial estate and gift tax provisions are set to expire on January 1, 2013. It notes that the lifetime gift/estate and GST tax exemptions will decrease substantially, as will the tax rate, unless action is taken. It recommends making gifts now to take advantage of the higher $5.12M exemptions and lower 35% tax rate before they expire. Specific techniques discussed include outright gifts, trusts, GRATs, QPRTs, life insurance trusts, and sales to intentionally defective grantor trusts.
Who gets your percentage of the business when you retire, die or sell it? Your partner, a spouse, or your children? Are you doing the best to maximize tax advantages? What are you doing to protect your interest and assets? How are you positioning employee retention and loyalty?
1. The document provides information about financial planning services offered by Turenne Joseph, a financial advisor with Investors Group. It discusses various financial topics and risks women may face.
2. Building wealth, protecting assets, and planning for retirement and legacy are important topics to discuss with a financial advisor. Insufficient planning can leave one vulnerable.
3. Meeting regularly with a financial planner allows them to ensure one's investments, insurance, and estate plan align with their goals and risk tolerance over the long term. Asking the right questions is important to financial security.
- Gross income includes all income from any source unless specifically excluded by law. It includes cash as well as non-cash items valued at fair market value.
- Some common exclusions from gross income include life insurance proceeds, gifts, inheritances, employer-provided health insurance, and municipal bond interest.
- The tax treatment of other income sources like interest, dividends, alimony, annuities, and scholarships depends on certain rules and calculations explained in the document.
Karen Sands discusses key challenges to retirement income and estate planning, focusing on income splitting and minimizing taxes. Income splitting can be done through investing in assets that generate capital gains for children or prescribing loans between family members. Tax can be deferred through RRSPs or paid at lower rates through capital gains, eligible dividends, or pension income splitting. Planning like setting up trusts can reduce taxes paid by heirs. Proper planning through income splitting and upon death can substantially reduce taxes paid over a lifetime and for heirs.
This chapter discusses the definition of gross income and various income categories that are included or excluded from gross income calculations for tax purposes. It covers interest, dividends, alimony, prizes, annuities, life insurance, gifts and inheritances. It also discusses exclusions such as employer-provided health insurance, meals and lodging, municipal bond interest, and social security benefits. The chapter contains examples and learning objectives related to calculating taxable portions of various income streams.
Trudeaumania 2 and Trump Dynasty for Posting onlineMichael Bondy
Trudeaumania-2 and What's in Store for Us All
- Justin Trudeau wants to strengthen Canada's middle class through income-based programs that tax higher incomes and increase benefits for middle incomes.
- His approach involves larger public spending programs and deficits to "spend our way to happiness."
- However, Trudeau has moderated some of his policies since taking power and the future effects on taxpayers remain uncertain.
Albion Financial Group Senior Wealth Advisors Sarah Bird, CFP and Liz Bernhard, CFP, MBA work with clients to ensure their financial concerns are addressed in an integrated fashion, that pieces of their overall plan are working in concert, and that tactical changes to investment portfolios are made to stay on track toward each client’s goals.
Linkedin francic chimenti planning for retirement -Carol Buckmann
This document provides an overview of retirement planning for a hypothetical couple, Frank and Joanne Wilson. It discusses estimating retirement expenses, sources of retirement income, developing a retirement vision, and strategies to pursue their goals. Key points include estimating the Wilsons' annual living expenses in retirement will be $175,000 but their current annual income is only $50,000, leaving a $125,000 shortfall. The document outlines a potential strategy to address this, including reviewing investments, Social Security claiming strategies, generating income streams, protecting principal, and ensuring insurance needs are met.
Annuities are hard to understand for most retirees, this easy to read booklet explains the new types of annuities and the amazing features they have. Whether you’re looking to purchase an annuity or want information on your current annuities, this booklet provides all the answers you may be looking for.
Pragmatic Steps to Managing Money Early in Your CareerPeggy Groppo
GW & Wade provides comprehensive financial services including retirement planning, investment management, tax planning, estate planning, and more. Their expert counselors create custom plans for each client based on their unique needs and goals. Services include income tax planning, cash flow analysis, charitable gifting strategies, education planning, and executive team services. Counselors help clients manage their investments and assets to stay on track with their financial plans over time.
How to Form an Angel or Venture Fund: Legal, Business and Tax Strategiesideatoipo
While large amounts of pooled capital continue to be invested in startups, the legal, tax and regulatory environment continues to evolve. Many entrepreneurs and investors pool their capital into vehicles designed to invest in startups. Others form funds to manage investments by other passive investors.
Join us as we discuss the complex web of legal, tax and regulatory requirements for forming and operating a fund.
Veteran Silicon Valley venture capital attorney Roger Royse will discuss the nuts and bolts of forming an angel or venture fund, including:
1) Types of investment funds designed to invest in startups
2) Typical investment fund terms
3) Various ways of structuring the distribution waterfall
4) Special tax rules applicable to fund managers (and some related tax issues on the investors side)
5) The federal and state registration requirements for fund managers
6) Securities law issues for funds
7) Special considerations for foreign investors in funds
8) CFIUS considerations for funds with foreign investors
and more!
This document provides information about Registered Disability Savings Plans (RDSPs) in Canada. RDSPs allow individuals with disabilities and their families to save and receive government grants to help fund for future needs. The government offers matching grants through programs like the Canada Disability Savings Grant of up to 300% of contributions. RDSPs also benefit from tax-deferred growth over many years. Withdrawals can begin at age 60 and are taxed then. RDSPs require long-term saving as government grants received in the past 10 years may need to be repaid upon any withdrawals or closing of the plan. Financial advisors can help determine optimal contribution strategies and ensure proper planning is in place.
Swindells LLP is a firm of chartered accountants and tax advisers with two locations. They provide services to a range of clients including multi-national companies, UK trading companies, lottery winners, families with inheritance tax issues, high net worth individuals. The document discusses strategies for reducing inheritance tax exposure such as flexible trust planning which allows gifting assets but retaining access if needed, and business property relief for non-business owners which provides IHT exemption after two years of asset ownership. A case study of a couple with various assets worth £1.5 million is presented, showing how their IHT bill could be reduced.
Practical wealth management strategies for Health Care professionals looking to reduce taxes and maximize family estate using tax deferrals, income splitting, incorporation, insurance and Individual Pension Plans, among other strategies.
This powerpoint training is the slides from the webinar I did on the taxing of social security and is placed on our training site.
If you want more training on annuities, selling or building your book of business visit us at www.7figuresalestools.com
This document introduces the "Anti-AnnuityTM", which is described as Single Premium Indexed Universal Life insurance (SPIUL). It summarizes the credentials and experience of the advisors behind the product. The SPIUL is presented as a tax-advantaged alternative to annuities that allows tax-free growth and access to funds. Examples are given showing how SPIUL can be used to create larger tax-free inheritances than other options like annuities. It also describes how SPIUL can be used to avoid taxes on IRA and retirement account funds by transferring them into the life insurance product. Readers are encouraged to schedule a meeting with the advisors to learn more about SPIUL and how it can save on estate
2017 TORONTO Fall Event - Proposed Tax Reform: What You Need to Know (October...Nicola Wealth Management
On October 1, 2017, NWM hosted a group of clients at the Four Seasons Hotel Toronto to discuss Finance Minister Bill Morneau and the Canadian government's proposal for tax reform impacting the majority of Canadian business owners.
NWM President, David Sung, opened the evening with an overview of the proposed tax changes. He provided some context and asked the audience to consider the political undertone of the Liberal government's tax proposal and the way in which they have handled the public push-back.
John Nicola, Chairman & CEO, an overview of what the government is proposing exactly and the impact it will have. He went on to discuss some planning options available to Canadian business owners.
This document discusses retirement planning options for clients. It provides examples of how using enhanced annuity rates through phasing retirement benefits and income drawdown can maximize retirement incomes and death benefits. Specifically, it shows how qualifying clients for enhanced annuity rates from the start or at annual reviews could significantly increase uncrystallized funds over time compared to only using standard rates. It emphasizes asking clients simple medical questions to identify eligibility for enhanced rates to provide better client outcomes and advisor compensation.
Women have unique financial issues and needs. This presentation discusses 15 of the most common misconceptions women have about general financial strategies, retirement and estate planning, insurance, as well as money and relationships. It provides guidance on strategies to help women manage their finances.
This document discusses opportunities for gift and estate planning in 2012 given that beneficial estate and gift tax provisions are set to expire on January 1, 2013. It notes that the lifetime gift/estate and GST tax exemptions will decrease substantially, as will the tax rate, unless action is taken. It recommends making gifts now to take advantage of the higher $5.12M exemptions and lower 35% tax rate before they expire. Specific techniques discussed include outright gifts, trusts, GRATs, QPRTs, life insurance trusts, and sales to intentionally defective grantor trusts.
Who gets your percentage of the business when you retire, die or sell it? Your partner, a spouse, or your children? Are you doing the best to maximize tax advantages? What are you doing to protect your interest and assets? How are you positioning employee retention and loyalty?
1. The document provides information about financial planning services offered by Turenne Joseph, a financial advisor with Investors Group. It discusses various financial topics and risks women may face.
2. Building wealth, protecting assets, and planning for retirement and legacy are important topics to discuss with a financial advisor. Insufficient planning can leave one vulnerable.
3. Meeting regularly with a financial planner allows them to ensure one's investments, insurance, and estate plan align with their goals and risk tolerance over the long term. Asking the right questions is important to financial security.
- Gross income includes all income from any source unless specifically excluded by law. It includes cash as well as non-cash items valued at fair market value.
- Some common exclusions from gross income include life insurance proceeds, gifts, inheritances, employer-provided health insurance, and municipal bond interest.
- The tax treatment of other income sources like interest, dividends, alimony, annuities, and scholarships depends on certain rules and calculations explained in the document.
Karen Sands discusses key challenges to retirement income and estate planning, focusing on income splitting and minimizing taxes. Income splitting can be done through investing in assets that generate capital gains for children or prescribing loans between family members. Tax can be deferred through RRSPs or paid at lower rates through capital gains, eligible dividends, or pension income splitting. Planning like setting up trusts can reduce taxes paid by heirs. Proper planning through income splitting and upon death can substantially reduce taxes paid over a lifetime and for heirs.
This chapter discusses the definition of gross income and various income categories that are included or excluded from gross income calculations for tax purposes. It covers interest, dividends, alimony, prizes, annuities, life insurance, gifts and inheritances. It also discusses exclusions such as employer-provided health insurance, meals and lodging, municipal bond interest, and social security benefits. The chapter contains examples and learning objectives related to calculating taxable portions of various income streams.
Trudeaumania 2 and Trump Dynasty for Posting onlineMichael Bondy
Trudeaumania-2 and What's in Store for Us All
- Justin Trudeau wants to strengthen Canada's middle class through income-based programs that tax higher incomes and increase benefits for middle incomes.
- His approach involves larger public spending programs and deficits to "spend our way to happiness."
- However, Trudeau has moderated some of his policies since taking power and the future effects on taxpayers remain uncertain.
Albion Financial Group Senior Wealth Advisors Sarah Bird, CFP and Liz Bernhard, CFP, MBA work with clients to ensure their financial concerns are addressed in an integrated fashion, that pieces of their overall plan are working in concert, and that tactical changes to investment portfolios are made to stay on track toward each client’s goals.
Linkedin francic chimenti planning for retirement -Carol Buckmann
This document provides an overview of retirement planning for a hypothetical couple, Frank and Joanne Wilson. It discusses estimating retirement expenses, sources of retirement income, developing a retirement vision, and strategies to pursue their goals. Key points include estimating the Wilsons' annual living expenses in retirement will be $175,000 but their current annual income is only $50,000, leaving a $125,000 shortfall. The document outlines a potential strategy to address this, including reviewing investments, Social Security claiming strategies, generating income streams, protecting principal, and ensuring insurance needs are met.
Annuities are hard to understand for most retirees, this easy to read booklet explains the new types of annuities and the amazing features they have. Whether you’re looking to purchase an annuity or want information on your current annuities, this booklet provides all the answers you may be looking for.
Pragmatic Steps to Managing Money Early in Your CareerPeggy Groppo
GW & Wade provides comprehensive financial services including retirement planning, investment management, tax planning, estate planning, and more. Their expert counselors create custom plans for each client based on their unique needs and goals. Services include income tax planning, cash flow analysis, charitable gifting strategies, education planning, and executive team services. Counselors help clients manage their investments and assets to stay on track with their financial plans over time.
How to Form an Angel or Venture Fund: Legal, Business and Tax Strategiesideatoipo
While large amounts of pooled capital continue to be invested in startups, the legal, tax and regulatory environment continues to evolve. Many entrepreneurs and investors pool their capital into vehicles designed to invest in startups. Others form funds to manage investments by other passive investors.
Join us as we discuss the complex web of legal, tax and regulatory requirements for forming and operating a fund.
Veteran Silicon Valley venture capital attorney Roger Royse will discuss the nuts and bolts of forming an angel or venture fund, including:
1) Types of investment funds designed to invest in startups
2) Typical investment fund terms
3) Various ways of structuring the distribution waterfall
4) Special tax rules applicable to fund managers (and some related tax issues on the investors side)
5) The federal and state registration requirements for fund managers
6) Securities law issues for funds
7) Special considerations for foreign investors in funds
8) CFIUS considerations for funds with foreign investors
and more!
This document provides information about Registered Disability Savings Plans (RDSPs) in Canada. RDSPs allow individuals with disabilities and their families to save and receive government grants to help fund for future needs. The government offers matching grants through programs like the Canada Disability Savings Grant of up to 300% of contributions. RDSPs also benefit from tax-deferred growth over many years. Withdrawals can begin at age 60 and are taxed then. RDSPs require long-term saving as government grants received in the past 10 years may need to be repaid upon any withdrawals or closing of the plan. Financial advisors can help determine optimal contribution strategies and ensure proper planning is in place.
Swindells LLP is a firm of chartered accountants and tax advisers with two locations. They provide services to a range of clients including multi-national companies, UK trading companies, lottery winners, families with inheritance tax issues, high net worth individuals. The document discusses strategies for reducing inheritance tax exposure such as flexible trust planning which allows gifting assets but retaining access if needed, and business property relief for non-business owners which provides IHT exemption after two years of asset ownership. A case study of a couple with various assets worth £1.5 million is presented, showing how their IHT bill could be reduced.
This document discusses care fees planning and how financial advisors can help their clients plan for long term care costs. It provides statistics on the long term care market, outlines various care fees planning options like immediate needs annuities and investments, and discusses how advisors can expand their services and refer clients to specialists in care fees planning. The document also aims to address common myths around long term care costs and planning.
•Estate planning with your pension
•Your year end checklist: time to focus
•Buy-to-Let: a taxing issue
•Curtains for the Autumn Statement
•Your shrinking pension allowances
The document discusses challenges and opportunities in retirement planning. It notes that demand for retirement advice will increase as more people approach retirement with complex financial situations. Additionally, it highlights the need for holistic and ongoing retirement advice to help clients effectively manage longevity risks, inflation risks, and make their resources last throughout retirement. The document also advocates for product and regulatory changes to improve retirement outcomes and access to advice.
This document provides an overview of tax planning ideas for private clients, business owners, UK resident non-domiciled individuals, and how the professional services firm RSM can help. For private clients, it discusses tax planning opportunities related to allowances, inheritance tax, business and agricultural property relief, pensions, tax efficient investments, investment wrappers, supporting children or grandchildren, UK residence status, and residential property owned by individuals or corporates. For business owners, it covers business profits, cash extraction, entrepreneurs' relief, and partnership structures. For non-doms, it addresses domicile status, remittance basis, business investment relief, offshore trusts, and deemed domicile.
Mercer & Hole Property Plus - January 2015TIAG_Alliance
Published by Mercer & Hole - TIAG Member in London, England
These articles give an overview of some of the property issues that we are typically dealing with. These range from commercial property investment, to families buying property for their children to occupy, a second home investment, maybe a buy to let or a wealthy non UK domiciled individual acquiring a home or investment in the UK.
02: Buying property for children
03: Capital allowances in commercial property
04: Commercial property investment
05: VAT on student accommodation: 1 April 2015 changes
06: Non UK domiciliaries owning UK property
07: UK residential property – buy to let 08: Residential service charge accounts
Tax Treatment of Non-UK Domiciled PersonsNaddir Muthu
Reforms to the tax treatment of non-UK domiciled persons
The use of overseas Trusts for non-UK domiciled persons
The use of non-Trust solutions for former UK domiciles and UK persons
Reforms to IHT on UK residential property held through overseas companies
This document contains summaries of presentations given by Dr. Nigel Wilson, the CEO of Legal & General Group. It discusses the success of the UK's auto-enrollment pension system and proposes next steps to improve it. It also outlines Legal & General's investments in areas like housing, infrastructure, and healthcare and argues these investments provide long-term returns while creating social benefits. Finally, it proposes expanding auto-enrollment to include income protection insurance in order to provide greater financial security.
This webinar provides strategies for property investors to minimize taxes and maximize wealth through proper structuring. Tony Lee from Lee & Lee Accountants discusses the top 5 tax strategies, how to determine the optimal ownership structure, and investing in property through a self-managed superannuation fund (SMSF). The webinar includes a case study of a couple who can benefit from an SMSF to develop a duplex and build their superannuation balances.
Pensions: nirvana or nightmare? - Bovill briefingBovill
Bovill - the UK financial services regulatory consultancy - runs regular briefings. These are the slides from the May 2015 briefing on the FCA's Business Plan and Outlook for 2015/16. For more information visit www.bovill.com.
Further information on the event is below:
Our May briefing looks at the impact of the latest pension reforms.
New freedom and choice has made pensions a more attractive investment, and the greater complexity means there’s greater need for advice. But is the opportunity for advisers worth the risk? As it becomes harder to divorce pension planning from investment advice, will wealth managers who choose not to offer pensions advice lose business? And what is the knock on effect for the industry as a whole? Our London briefing look at the new pensions regime. We consider:
•what’s changed
•how it affects advisers and the suitability considerations they face
•how to address the compliance challenges that it brings
Dentons wealth clarity newsletter spring 2017Sue Stevens
The document is a newsletter from ClarityProud highlighting changes in the insurance and financial industry and providing updates on various topics. It discusses the danger of retaining profits within a business and losing inheritance tax relief, the high costs of long term care, and the benefits of long term investing over trying to time the market. It also covers tax year-end planning, moving ISAs out of the inheritance tax trap, and the tax benefits of various investments.
Dentons wealth clarity newsletter spring 2017Jonathan Gall
The document is a newsletter from ClarityProud highlighting changes in the insurance and financial industry and providing updates on various topics. It discusses the danger of retaining profits within a business and losing inheritance tax relief, the high costs of long term care, the benefits of long term investing over trying to time the market, tax efficient investing strategies like ISAs and pensions, and questions if ISAs are caught in the inheritance tax trap. It also lists upcoming elections that could lead to market volatility.
A Presentation from a panel of experts including a Chartered Tax Adviser, a Chartered Wealth Manager, an Estate Planning Solicitor and our special celebrity guest speaker, BBC financial pundit and Co-Founder of Seven Investment Management, Justin Urquhart-Stewart. This event took place in Plympton on 11th October 2017
1. The document discusses "Simplified Planned Giving" (SPG) which uses charitable gifts like charitable gift annuities (CGAs) to provide benefits to both donors and charities.
2. CGAs offer donors guaranteed lifetime income, income tax deductions, capital gains tax relief, and estate tax reductions while also leaving a legacy for heirs.
3. An example shows how a CGA allowed a couple to increase their annual income, pay for long term care, fund a life insurance policy for heirs, and receive an immediate tax deduction.
The document discusses various tax issues related to self-employment, property rentals, and business incorporation. It addresses questions about using the Approved Mileage Allowance Payment (AMAP) for self-employment and vans. It also covers deducting interest payments and refinancing for buy-to-lets, capital allowances, and using principal private residence rules to reduce capital gains tax on rental properties.
The document outlines 7 methods for legally avoiding property tax:
1. Capital gains tax exemptions for principal private residences and partial letting exemptions.
2. Claiming repairs and maintenance as expenses to reduce taxable profits rather than improvements which reduce capital gains.
3. Using intermediaries like letting agencies to divert rental profits to lower-tax entities.
4. Claiming interest deductions on mortgages and loans related to investment properties.
5. Strategies for avoiding stamp duty land tax, though some may no longer be valid after recent changes.
6. Claiming capital allowances for properties with communal facilities like houses of multiple occupancy.
7. Hiring a
The document discusses opportunities and risks related to upcoming changes in UK pension laws. It outlines several ways high earners could maximize their pension contributions and tax relief before rules change in 2011. It also notes opportunities for employers through initiatives like auto-enrollment and salary exchange to increase employees' pension contributions in a tax-efficient manner. Overall the document aims to help advisers identify strategies clients could use to benefit from pending pension reforms.
This document provides an overview of various tax considerations for private clients, business owners, UK resident non-domiciliaries, and how the company can help. It covers topics like utilizing tax allowances between couples, inheritance tax planning, business and agricultural property relief, pensions, tax efficient investments, and more. The sections describe key aspects of each topic and considerations around qualifying for various reliefs to minimize tax liability.
Similar to Inheritance Tax Planning in uncertain times Dec 2010 (20)
88. Access – retain right and flexibility over future income stream
89. Tax Savings – Immediate IHT saving, Tax-free growth, further IHT after 7 years and No Income Tax on death
90.
91. Year 1 £ £ £ £ £ £ £ £ £ £ £ £ £ £ £ £ £ £ £ £ £ £ £ £ £ £ £ £ £ £ £ £ £ £ £ £ £ £ £ £ £ £ £ £ £ £ £ £ £ £ £ Investors Estate Year 2 Year 3 Year 4 £ Year 5 Year 8 Year 6 Year 7 In any year some, all or none of a reversion can be taken £ £ £ £ £ £ Year 9 Year 10 Year 11 Year 12 Chargeable gain assessable at Settlor’s marginal rate of income Tax No Income Tax on death £ £ £ £ £ Year 14 Year 13 Year 16 Year 15 Postponement does trigger Tax events
93. Business Property Relief (BPR) Qualification can be complex BPR available on “Relevant Business Property which has been owned for 2 Years at the rate of 100%” (Inheritance Tax Act 1984 Sections 105 and 106) Relevant Business Property includes:- The shares of an unquoted company which is undertaking permitted business activities. Permitted business activities includes trading but not investment
99. Fund Structure:Limited Liability Partnership Subscriber 1 £50,000 Other Subscribers £9,850,000 Subscriber 2 £100,000 XXX Fund Management LP (Manager) XXX IHT Fund Limited Liability Partnership £10m XXX Corporate Finance Limited (Sponsor & Operator) Experienced operators (Business Managers) Care Home £2m Health Club £1.5m Property Development £1.5m Pub £1m Two Hotels £4m Care Home Operator Health Club Operator Property Developer Pub Operator Hotel Operator
100.
101.
102. Purchased property for £1.6m in May 2010 with a £900k (16-week) extensive redevelopment programme which commenced in June 2010
103. Re-opening in October 2010 as an exclusive boutique B&B with a stylish and contemporary steakhouse bar and grill on the ground floor
104. Property purchased as a joint venture with Urban and Country Leisure, who own and operate a number of similar venues in central and southern of England
105. Purchase of property and all refurbishment works funded 80% by the Downing IHT Funds, 20% by Management
106.
107. 90 Days £100 £103 £97 Investor Company 180 Days 0 Days CAPITAL PROTECTION EXAMPLE TRADE CREDIT INSURANCE SUPPLIER RETAILER CAPITAL PROTECTION For illustrative purposes only
125. Adviser value is in discussing, creating and reviewing a comprehensive and robust overall strategy, not simply selecting a product
126. Question Time Robin Stevenson Duncan Orr robins@swindellsandgentry.co.ukduncano@swindellsandgentry.co.uk 01825 763366 01323 894202
Editor's Notes
Since the investment has been made, 4 of the apartments have subsequently been sold and 5 are tenanted on a ‘rent-to-buy’ basis (24months) which gives an option of placing the rent as deposit to buy. The sales & r-t-b gives a clear exit route for the funds. The market for selling property id very tough in Armley, and the sale prices of £100,000 are now considered too high by agents and so the prices are to be reduced to sell the remaining three flats. The IHT fund capital is still well covered.