Tax efficient savings »
Many times we hear "my property is my pension" where people are
talking about their home or buy to let portfolio but by combining
property and pensions more tax efficiency could be achieved.
Dividend v salary v pension revisited »
Considering the options and tax consequences for funds derived
from profits is only really relevant in relation to owner/managers
of private limited companies. Profits derived by the
self-employed are assessed to tax on the sole trader no matter how
those profits are spent. The same is true for partners and
members of a LLP - they are taxed on their share of profits whether
it is drawn or not.
Technology providers to continue evolution in mortgage advice »
The recent announcement that Equifax have teamed up with
Castlight in order to provide a real-time affordability platform,
provides further evidence that technology providers will not rest
on their laurels in their bid to provide advisers with the best
possible tools to do their jobs.
Conveyancers must think digitally to succeed in 2017 »
These are unpredictable times for the property market with
forecasts changing from joyfully optimistic to the polar opposite
within what feels like the blink of an eye, but there is one thing
I am sure of - the future of conveyancing is online.
2017 Spring Budget - The pension changes »
Following on from our previous article looking at the
non-pensions Budget changes, this article looks at the main
pensions changes, as announced.
2017 Spring Budget - The main non-pensions changes »
This year's March Budget was the last Spring Budget, as Mr
Hammond has said that from now on Budgets will be presented in
Autumn, with the Spring reserved for a financial statement. Thus in
2017 we will have two Budgets, with the second probably arriving in
Trust disputes - interesting decisions from 2016 »
This month we continue to look at some interesting Court
decisions from last year in the area of trust law. Last month we
considered one case concerning trustees' duties when investing
trust funds, and another one dealing with the more fundamental
question of whether a trust in fact existed or not. Another area
that is frequently the subject of a dispute in this area is the
beneficiaries' right to receive information from the trustees about
the trust fund and there has been a recent decision on this so we
start with it. We then look at yet another decision involving a
settlor's mistake as to the consequences of a transfer of an asset
to a trust.
The penny drops »
Inflation is on the rise. The latest numbers published by the
Office for National Statistics show prices increased to 1.8% in
January, up from 1.6% in December. Just seven months ago in June,
price rises were only coming in at an average of 0.5%.
Increasing complexity demands greater specialism »
The Society of Mortgage Professionals' recent survey
found 61% of members supported a standalone lifetime
mortgage qualification for pensions and investment advisers so
they could sell such products without having full mortgage
Getting to grips with the new buy to let affordability checks »
The new Prudential Regulation Authority regime regarding
Interest Cover Ratios (ICR) and stress tests are a mathematical
consequence of the income tax relief changes announced by George
Osborne back in July 2015.
Defined benefit green paper »
The long awaited Green paper issued by the Department for Work
and Pensions is a significant document in both number of pages and
the depth of the content. It followed an informal consultation in
2016 which was undertaken with a range of stakeholders, from which
no consensus was reached on whether or how to adjust the current
balance between protecting members and supporting employers.
Trust disputes - interesting decisions from 2016 »
Court decisions are very useful in reinforcing knowledge and
understanding, especially in the area of trust law. Recently we
have looked at some cases involving trustee mistakes and
rectification. As it happens, in 2016 there were quite a few very
interesting trust cases which deserve proper consideration. This
month we will look at two of these - the first concerning trustees'
duties when investing trust funds, and the second dealing with the
more fundamental question of whether a trust in fact existed or
Rectification of trust mistakes »
It is a well-known fact that once a trust deed has been executed
it cannot simply be amended subsequently. Certainly, changes will
not be allowed simply because the settlor changes his mind.
However, where it is clear that a mistake has been made and there
is evidence to support this, there are two possible remedies: a
remedy of rectification and a remedy of rescission (setting aside).
Both need an application to the Court and, being "equitable
remedies", are at the Court's discretion, which depends to a large
extent on the conduct of the applicant.
The inexorable rise in demand for bridging loans »
The bridging industry has gained both ground and reputation in
the past few years. The credit crunch, while creating problems for
the lending industry as a whole, saw lenders in the bridging
industry rise to fill the gap left by the mainstream lenders.
Ongoing lifetime allowance enhancements and reductions »
The lifetime allowance is one of many
aspects of pension legislation that is getting ever more complex as
we get further away from A-day in 2006. We are nearly 11 years on
and it has gone up from £1.5 million to £1.8 million and now we are
having to cope with a standard lifetime allowance of just £1
million. With this new reduction it is ever more important to
understand any enhancement or reductions that can apply to this