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Personal Finance Society
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Technical articles

Tax planning - chargeable event gains on UK investment bonds »
In this article it is assumed that the reader is conversant with the general rules surrounding top-slicing relief which could apply when a UK investment bond (Bond) is encashed/surrendered.
Charitable gifts and trusts »
Last month we looked at a case involving a charity, who was the beneficiary in remainder under a trust, taking the trustees to Court to obtain information about the trust. In fact, there have been many cases reported recently where charities have been involved in litigation, for which many have been roundly criticised.
Charitable trusts and wills »
Last month we looked at the subject of charitable legacies and the various ways a Will can be structured to ensure that not only the lower (36%) inheritance tax rate is achieved but that the testator's practical aims are achieved. 
Chargeable event gains - Who is assessed and liable for tax? Part 2 »
In Part 1 of this series of 2 articles we explained that chargeable event gains made under life assurance policies (which includes capital redemption policies) owned by individuals or held on non-charitable trusts established by an individual, are potentially subject to income tax. In that article we examined the position where a life assurance policy is not held under trust.
Pensions savings statements »
It’s that time of year again when pension savings statements will be issued. They should be issued by 6 October following the end of the relevant tax year. So pension savings statements will shortly be issued for the 2016/17 tax year.
Beneficiaries' rights to trust information »
Recently we looked at a novel way some trust beneficiaries had sought to obtain information from the trustees, using the Data Protection Act.
Mortgage Professional - August 2017 »
Many lenders wanted The Financial Policy Committee to relax the residential mortgage stress test introduced in 2014 and so when it announced a tighter test in July it surprised the market.
GDPR to play catch-up with the advance of technology »
Exponential growth in the internet, the paperless office, remote working and the use of cloud computing services have revolutionised the way in which individuals and businesses interact and data is processed.
Mortgage Professional - August 2017 »
What is adverse in 2017?The mortgage industry has always prided itself on how it evolves quickly to meet the changing needs of the market, and 2017 is no different. As the lifestyles, living situations and working habits of the population shift, lenders are having to adapt, become increasingly flexible and cater to the demands of the growing number of borrowers rejected by high street banks.
Chargeable event gains - Who is assessed and liable for tax? »
Income tax can be charged on gains treated as arising from certain life assurance policies, capital redemption policies and annuities. In this article and the next article we consider the circumstances in which persons are assessed on those gains and so may be liable for the payment of any income tax.  The articles will not cover annuities or company-owned policies (gains to UK companies are taxed under the loan relationship rules) and the expression 'life assurance policies' includes capital redemption policies.
Disclosure of trust information »
As trusts become more popular as part of estate planning an adviser is likely to come across clients who may be beneficiaries or/and trustees of existing trusts. Extraordinarily it is not uncommon to find that trustees are not totally familiar with the trusts they administer, let alone understand fully their duties and responsibilities. However, more often one comes across an individual who is a beneficiary of a trust but has little information about the trust.
Life insurance policies »
We have recently received a few enquiries with regard to the application of time-apportionment relief (also referred to as 'non-resident relief'), with particular reference to UK life policies and the effect that certain transactions under policies can have on the relief.  In this article we provide an overview of the position.
Retirement Outcomes Review Interim Report »
The Retirement Outcomes Review Interim Report published by the FCA runs into 122 pages and invites responses to numerous questions raised throughout. The deadline for these responses is the 15 September 2017 with the full report due out in the first half of 2018. The interim report looks into how the retirement income market is evolving after the introductions of the pension freedoms.
Great Expectations...? »
"Boys is wery obstinit,and wery lazy, gen'lmen, and there's nothink like a good hot blaze to make 'em come down vith a run. It's humane too, gen'lmen, acause, even if they've stuck in the chimbley, roasting feet makes 'em struggle to hextricate theirselves".
The consequences of the death of the settlor »
Financial advisers, whether or not they have been involved in the setting up of an earlier trust, are frequently called upon to assist with financial matters after a client or a relative of a client has died.  Frequently there are questions with regard to the administration of a trust that the deceased had set up during lifetime or there may be questions in relation to a trust that has been created under the deceased's will. Judging from our experience at Technical Connection particular problems often arise in connection with loan trusts and other inheritance tax (IHT) mitigation schemes.  This month we will consider the consequences of the death of a settlor under the different trust arrangements.

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