When it comes to gaining and maintaining inheritance tax (IHT) planning know-how and expertise, nothing beats a good case study.
So this special case study investigation, which features not one but two client examples, is bound to be right up your street.
Join Steve and Richard as they crack the case
Because in this 50-minute episode, Utmost International’s Steve Sayer joins host, Richard Allum, to explore why reversionary interest trusts (RITs) combined with the available nil rate band (NRB) threshold, can become a powerful and flexible feature of a client’s IHT strategy.
In a conversation that’s packed with practical insights, ideas and expertise, tax and trusts expert Steve unpacks two case studies which will help you:
– understand the mechanics and key features of a RIT
– consider planning opportunities using RITs especially in conjunction with other options
– be able to discuss and explain RITs and NRB with a client in a clear and concise way
– apply this knowledge to appropriate, individual, client scenarios
Whether you’re a seasoned paraplanner who wants to keep your knowledge fresh or the role of RITs in IHT planning is new territory for you, we’re sure you’ll enjoy the hands-on learning offered by this expert discussion.
Watch or listen now
Just follow the links for a CPD certificate and downloads.
Working out what to do with your client’s wealth after their death is all part of a paraplanner’s life.
But settling on the best strategy can be complex – especially when missing a vital detail can have costly consequences.
So what can you do about it?
Stay up to date with the latest thinking, that’s what.
Which is why Neil Macleod, senior technical manager at M&G Wealth, joined us to explore death and trusts and paraplanning.
During this lunch-hour Assembly, Neil covered:
- the types of trusts that can be created upon a person’s death
- how to spot different trust structures and what this means
- the income tax and capital gains tax treatment of trustee investments
- strategies for selecting appropriate investments for specific trusts
- practical approaches to providing investment advice to trustees
What will I learn from this online Assembly?
By the end of this Assembly, you’ll be able to:
- identify the types of trusts which can be created on a person’s death
- describe the income tax and CGT treatment of trustee investments
- identify appropriate investments for a particular trust
No matter how complex the cases you deal with, this is a great chance to tune in to Neil’s expertise, and get up to speed on death and trusts.
Once upon a time, we were scouring our library of previous online Assemblies and realised something: we had never covered the topic of inheritance tax (IHT) planning using the alternative investment market (AIM)!
So we thought it was high time to fix that with a whistle-stop tour to discover why investing in AIM is right up there as a strategy for IHT planning.
Whether you’re new to paraplanning and in search of a primer, or you’ve been paraplanning for absolutely ages and want to make sure you really know what you’re talking about, tuning into this Assembly will be well worth your while.
To help us navigate the topic we were joined by the ideal tour guide: Canaccord Genuity’s senior investment director and head of IHT investments, Paul Parker. During our lunch-hour gathering we explored:
- why AIM is so appealing for IHT planning
- business relief and how it works
- why AIM has a reputation for riskier investments
- how clients can invest in AIM – investment managers and DFMs
- researching the suitability of AIM portfolios and their managers
- things to consider when designing an IHT strategy using AIM
As ever, the chat was open for paraplanners to pose questions, or share ideas and observations – and the quality of contributions was great!
It’s no secret that top slicing relief offers a powerful method of reducing tax liability by spreading bond gains across each year of the lifetime of the bond.
But no matter how experienced a paraplanner you may be, working out the best way to make use of the relief, and getting the top slicing calculations right, can be tricky.
Join Steve and Richard as they crack the case
That’s why we think this case study investigation (CSI) on top slicing will be right up your street.
In this 45-minute special on top slicing, Utmost International’s technical sales manager, Steve Sayer, joins The Paraplanners’ Richard Allum, to pick his way through a case study featuring fictional client, David.
Designed to give you the chance to consider the financial planning opportunities from all sorts of angles, this CSI will help you:
- understand how top slicing relief works and when it can be applied;
- calculate top slicing relief as accurately and tax efficiently as you can;
- work out strategies to assign bond segments to spouses or beneficiaries to reduce tax liabilities;
- understand how pension contributions can be used to save tax and maximise relief; and
- navigate how bond gains, personal allowances, and other sources of income work together
Watch or listen now
Whether you’re new to top slicing relief or are a seasoned pro, it never hurts to top up your knowledge and know how – especially when it can make such a big difference to a client’s financial plan.
In a world where even HMRC doesn’t seem too sure what the score is, how can paraplanners get to grips with the new allowances landscape so clients know what they need to know right now?
Well you could tune into this recording of our Assembly with Les Cameron on 24 April 2024 for starters.
Because M&G Wealth’s head of technical took us on a guided tour of the new allowances regime following the abolition of the lifetime allowance (LTA).
What you’ll gain from this Assembly
During this lunch-hour event, hosted by Richard Allum of The Paraplanners, Les explored what has changed, what matters, and what it all means for you and your clients.
In a session that was jam-packed with examples, case studies and practical tips, Les covered all the essentials including
- individual starting allowances
- allowance excesses
- transitional allowances – including transitional tax free amount certificates (TTFACs)
- ongoing allowance availability and use
- death benefits and beneficiaries drawdown
- the importance of the order of benefits
Among the nuggets that Les shared were his analysis of the winners and losers under the new regime, nine things you need to know about TTFACs, and planning opportunities for clients as a result of the changes.
What’s more, he recapped the legislative position as well as shared some good-to-know quirks that the changes are throwing up.
With the post-LTA world still in an apparent state of flux, this is a timely chance to take stock in the company of one of the Assembly’s most popular experts. Want to join in? Then save your spot now.
A special tax year end Assembly combining expert insights and Chat-powered Q&A.
Coming just a week after the Budget statement on 6 March, a little over a fortnight before tax year end, and while the Finance Bill from last October’s statement is still making its way through Parliament, it was the ideal time to tune in to what you really need to know as the tax year hits its paraplanning peak.
To help, we gathered together a stellar panel of experts to share their knowledge and know-how: Les Cameron from M&G Wealth, James Jones-Tinsley of Barnett Waddingham and Transact’s Brian Radbone. (Scottish Widows’s Tom Coughlan, was due to join us but technical gremlins proved too much of an obstacle.)
Expect a lunch-hour discussion laden with lashings of insights on allowances, reliefs and exemptions spanning pensions, ISAs, capital gains tax and inheritance tax (and everything in between).
Ever-popular Assembly regular, Les Cameron of M&G Wealth, joined us to answer the question ‘What’s going on with the lifetime allowance?’
Why? Because in his Budget statement to the House of Commons earlier this year, the Chancellor of the Exchequer, Jeremy Hunt, announced the removal of the amount you could hold in pension savings before becoming liable for tax.
And that’s quite the change. Because it’s not all that long since Hunt’s predecessors stood accused of levying ‘stealth taxes’ by freezing the LTA at to £1,073,100 – potentially exposing an influx of pension savers to tax liabilities thanks to the effect of inflation.
So with proposed legislation removing the LTA and introducing a rise in the annual allowance, doesn’t the future look rosey for pension savers and their pots?
Or do other proposed measures – like setting a limit of £268,275 on tax-free lump sums – muddy the waters a bit?
Well, that’s where Les came in. Because over the lunch-hour session he:
- recapped the saga of the lifetime allowance so far
- explained the changes that the government has proposed
- explored what’s already happened (and what’s still left to happen); and
- considered what it all means for paraplanners working on retirement planning cases for clients.
Be honest. This stuff is like catnip to a paraplanner isn’t it?
Listen now
By loading the tweet, you agree to Twitter's privacy policy.
Learn more
We recently teamed up with friend of the Assembly, Steve Sayer of Utmost International, to record a three-part series of special Assemblies. Each one-hour session explores the issues affecting tax and tax planning, and offers practical ideas that paraplanners can consider for their firms’ clients.
In the first part of the series, Steve looked back at the last two budgets – the ‘mini-budget’ in September 2022 and spring Budget in March 2023 – to demonstrate the cumulative effect of ‘stealth’ tax rises and explore strategies to alleviate their effects.
In the second episode, he explored the flexibility of loan trusts and their potential for inheritance tax planning – especially in the wake of the freezes in nil rate and residence nil rate bands announced by the Chancellor of the Exchequer earlier this year.
In the final part of the trilogy, Steve considers discounted gift trusts as an alternative to loan trusts for inheritance tax planning.
In sharp contrast to loan trusts, the decision to execute a gift trust brings no flexibility but their appeal is the immediate inheritance tax advantages.
Whether they’re the right vehicle will depend on a number of planning considerations such as the ages of the applicants and the types of gift trust.
During his talk, Steve looks at the difference between absolute trusts and discretionary trusts, touches on issues like the consequences of pre-2006 flexible power of appointment arrangements, making gifts and insurance policies.
In the slides that you can download below, you’ll find two case studies:
Case study No 1: explores the issues a couple might consider when choosing between a joint settlor or single settlor discounted gift trust.
Case study No 2: a client who wants to invest in a discounted gift trust but wants to be able to secure a fixed level of withdrawals. By combining discretionary and absolute trusts they’re able to achieve their objective without exceeding their nil rate band.
Steve’s talk is ideal if you’re handling cases where clients are weighing up planning opportunities for inheritance tax, this is the special Assembly for you.
We’ve ‘chapterised’ the video above so you can navigate the video however you’d like – and provided the slide number/s too for easy reference.
To download a PDF version of Steve’s slidedeck, just tap the link below. You can also download a CPD certificate as a record of viewing the recording, and links to other resources mentioned during the recording.
CPD, downloads and links
Slides: Discounted gift trusts (opens a PDF in a new browser tab)
We recently teamed up with friend of the Assembly, Steve Sayer of Utmost International, to record a three-part series of special Assemblies. Each one-hour session explores the issues affecting tax and tax planning, and offers practical ideas that paraplanners can consider for their firms’ clients.
In the first part of the series, Steve looked back at the last two budgets – the ‘mini-budget’ in September 2022 and spring Budget in March 2023 – to demonstrate the cumulative effect of ‘stealth’ tax rises and explore strategies to alleviate their effects.
In this episode, Steve explores the potential for loan trusts to feature in inheritance tax planning – especially in the wake of the freezes in nil rate and residence nil rate bands announced by the Chancellor of the Exchequer earlier this year.
Perhaps typecast as a bit of a ‘slow burn’ option in the past, Steve reveals the surprising flexibility that loan trusts offer clients. For instance, offering the ability to begin inheritance tax planning but not cutting off access to cash.
While the inheritance tax advantages of a loan trust may not be so significant initially, the growth of the funds outside the estate over time can accumulate to a substantial amount, providing future planning flexibility.
If you’re handling cases where clients are weighing up planning opportunities for inheritance tax, this is the special Assembly for you.
We’ve ‘chapterised’ the video above so you can navigate the video however you’d like – and provided the slide number/s too for easy reference.
To download a PDF version of Steve’s slidedeck, just tap the link below. You can also download a CPD certificate as a record of viewing the recording, and links to other resources mentioned during the recording.
CPD, downloads and links
Slides: Planning with loan trusts (opens a PDF in a new browser tab)
We recently teamed up with friend of the Assembly, Steve Sayer of Utmost Wealth International, to record a three-part series of special Assemblies. Each one-hour session explores the issues affecting tax and tax planning, and offers practical ideas that paraplanners can consider for their firms’ clients.
In the first part of the series, Steve takes a look back at the last two budgets – the ‘mini-budget’ in September 2022 and Spring Budget in March 2023 – to demonstrate the cumulative effect of ‘stealth’ tax rises and explore strategies to alleviate their effects.
During the hour-long talk he deals with changes in income tax, capital gains tax, corporation tax, and inheritance tax.
Just hit play (above) to watch here or watch it on Vimeo. Alternatively, you can listen to Steve because his talk is also the latest episode of our podcast.
We’ve ‘chapterised’ the video above so you can navigate the video however you’d like – and provided the slide number/s too for easy reference.
To download a PDF version of Steve’s slidedeck, just tap the link below. You can also download a CPD certificate as a record of viewing the recording, and links to other resources mentioned during the recording.
CPD, downloads and links
Slides: Post-April 2023 personal tax changes (opens a PDF in a new browser tab)
Top slicing relief: planning strategies – online Assembly, 16 November 2022 »
Talking top slicing relief – online Assembly, 29 June 2022 »