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Pensions

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Fixed and Individual Protection 2016

With the lifetime allowance reducing from £1.25 million to £1 million on 6 April 2016, what new protections will be available for members of a pension scheme to help protect the savings that they have already built up? Topic:Lifetime Allowance
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Individual Protection in 2014

This article considers the key points for Individual Protection. Topic:Lifetime Allowance
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Individual Protection in 2014

This article considers the key points for Individual Protection. Topic:Transitional Protections
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General comparison between QROPS for UK residents and non-residents

This tables shows a broad comparison of benefits (or not) of QROPS for UK residents and non-residents compared to a standard UK registered pension scheme. Topic:QROPS & QNUPS
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Bankruptcy and pension scheme benefits

This article outlines the impact on an individual’s pension benefits if they are declared bankrupt. Topic:Planning Solutions
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Comparison of QROPS jurisdictional rules

This table gives a broad comparison of some of the benefits and taxation rules that can be taken from a QROPS that would apply in certain jurisdictions. This is not a comprehensive list. Topic:QROPS & QNUPS
Analysis

QROPS rules and reporting

How an overseas pension scheme can qualify as a QROPS, what undertakings such schemes must make to UK HM Revenue & Customs and the requirements on UK registered pension scheme transferring pension funds to QROPS. Topic:QROPS & QNUPS
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QNUPS – your questions answered

This article aims to provide generic information for financial advisers about the features of overseas pension schemes that also meet the Qualifying Non-UK Pension Schemes regulations. Topic:QROPS & QNUPS
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Overseas pensions and QROPS requirements

The impact on clients holding overseas pensions that previously met the Qualifying Recognised Overseas Pension Schemes requirements, but subsequently no longer meet the requirements to be a Qualifying Recognised Overseas Pension Scheme. Topic:QROPS & QNUPS
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Transfers into QROPS

This article aims to provide areas for financial advisers to consider when advising clients on transferring a UK pension into a Qualifying Recognised Overseas Pension Scheme. Topic:QROPS & QNUPS
Presentation

QROPS – the reasons why

This article explains the customer benefits of investing into a Qualifying Recognised Overseas Pension Scheme (QROPS). Topic:QROPS & QNUPS
QNUPS and UK IHT

QNUPS and UK IHT

This article explains what Qualifying Non UK Pension Schemes are and the current UK inheritance tax position for these schemes. Topic:QROPS & QNUPS
QNUPS and UK Collective Investments

QNUPS and UK Collective Investments

This article explains our understanding of the taxation of the UK collective investments held by a Qualifying Non-UK Pension Scheme where the member is, or has become UK resident. Topic:QROPS & QNUPS
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Considerations of recycling

What is considered recycling? What about the consequences of recycling? This article will look at what recycling is, what can happen if recycling takes place and how to avoid recycling. Topic:Pension contributions and Tax relief
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Income tax considerations for pensions

Income paid from a UK pension fund will be paid under the Pay-As-You-Earn (PAYE) regime meaning this will be paid after tax has been deducted. This taxation can depend on when and how the withdrawal is being made. Topic:Planning Solutions
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Lifetime Allowance and Pension options part 1

This article discusses the effects of the reduction in the Lifetime Allowance and the options available under pensions. Topic:Planning Solutions
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Lifetime Allowance and Pension options part 2

This article discusses the effects of the reduction in the Lifetime Allowance and the alternative savings options other than your own pension. Topic:Planning Solutions
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Carry forward of Annual Allowance

Carry forward relates to unused annual allowance not unused tax relief. If the individual relies on carry forward to make a large personal contribution they must have the earnings in the current tax year to cover it. Topic:Annual Allowance and Carry Forward
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Removal of personal allowance

From the beginning of the 2010/11 tax year individuals with ‘net adjusted income’ in excess of £100,000 had their personal allowance reduced. Topic:Pension contributions and Tax relief
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Helping you calculate Carry Forward

This simple guide is designed to help you fill in all relevant information on the attached table to enable you to calculate unused Carry Forward allowances. Topic:Annual Allowance and Carry Forward
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Self Assessment – Pension Contributions

Higher rate relief on personal pension contributions is generally given through Self Assessment. Here are some key dates for Self Assessment and the effect of pension contributions on payments on account and balancing payments. Topic:Pension contributions and Tax relief
Presentation

Pension tools

See our range of Pension tools. Topic:Pension Tools
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Small Pots and Triviality 

April 2015 saw the introduction of one of the biggest changes to pensions ever seen. This is potentially changing the fundamental concept of a pension and what it can be used for. Topic:Taking Pension Benefits
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Main changes to pension rules from April 2016

This article looks at the income tax treatment of trusts created by a UK individual, when their unmarried minor children are beneficiaries of the trust. Topic:General
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Fixed and Individual Protection 2016

With the lifetime allowance reducing from £1.25 million to £1 million on 6 April 2016, what new protections will be available for members of a pension scheme to help protect the savings that they have already built up? Topic:Transitional Protections
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Tapered annual allowance – examples

We have put together some simple examples to help explain Tapered annual allowance and how the client may be affected. Topic:Annual Allowance and Carry Forward
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Tapered annual allowance & high earners

From 6 April 2016 the annual allowance will taper to a minimum of £10,000 for those with adjusted income exceeding £150,000. Topic:Annual Allowance and Carry Forward
Completing forms

Non auto enrolement funding options

People overlook pension funding options which may be available to higher earners without breaching the auto-enrolment rules. Here we look at a pre A-Day concept applying to the new pension regime and funding. Topic:Auto enrolment and state benefits
Completing forms

Non auto-enrolment funding options

People overlook pension funding options which may be available to higher earners without breaching the auto-enrolment rules. Here we look at a pre A-Day concept applying to the new pension regime and funding. Topic:Planning Solutions
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Death benefits flowchart

From April 2015 the death benefit rules are changing to allow for true intergenerational sharing of pension funds on death. Topic:Death Benefits
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Pension Input funding - July Budget 

The attached table outlines the potential options for pension funding under the transitional "mini PIP's" created by the Summer Budget on 8 July 2015. Topic:Annual Allowance and Carry Forward
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Planning to protect your pension - PoA

There are many issues within pensions that need decisions to be made and require a full understanding - something that some may not be capable of as they get older and/or lose mental faculty. Topic:Planning Solutions
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Money Purchase Annual Allowance restrictions after 2015

With some of the biggest changes to pensions coming in April 2015, we look at the potential impact on contributions to money purchase pensions. Topic:Annual Allowance and Carry Forward
Apples

PIP changes - July Summer Budget

Significant changes to pension input periods (PIPs) have been introduced and from 6 April 2016 all PIPs will run in tax years. These PIP start and end dates will not be able to be altered by either the provider or the member. Topic:Annual Allowance and Carry Forward
Handing over papers

Pension rules - care and state benefits

State benefits and care home fees can be affected by how and when pensions are taken - and even if they are not taken. This article looks into some of the effects the new pension legislation could have on these benefits. Topic:Auto enrolment and state benefits
Handing over papers

Pension rules: Care and State benefits

State benefits and care home fees can be affected by how and when pensions are taken - and even if they are not taken. This article looks into some of the effects the new pension legislation could have on these benefits. Topic:Planning Solutions
Windmills

Pension transfers and potential IHT

Much has been said concerning HMRC’s ability to treat a pension scheme as within a client’s estate on death based on the fact they had transferred within 2 years of death. Here we briefly discuss when this may apply. Topic:Death Benefits
Windmills

Pension transfers and potential IHT

Much has been said concerning HMRC’s ability to treat a pension scheme as within a client’s estate on death based on the fact they had transferred within 2 years of death. Here we briefly discuss when this may apply. Topic:Inheritance Tax and Pensions
Brainstorming

New requirement for advising on QROPS transfers

Clients will now need expert pensions advice before transferring UK Defined Benefit schemes to a Qualifying Recognised Overseas Pension Scheme (QROPS) which further emphasises the importance of independent advice in this area. Topic:QROPS & QNUPS
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Auto-enrolment: an overview

This article examines the key workplace pension scheme requirements. Topic:Auto enrolment and state benefits
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Personal pension higher rate relief

Higher rate tax relief is given by increasing the basic rate and higher rate band by the amount of gross contribution paid into a personal pension. The effect of this is that the investor will get higher rate relief by paying basic rate tax on income that they would have otherwise paid higher rate tax on. Topic:Pension contributions and Tax relief
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Continued relevance of bypass Trusts

The concept of bypass trusts have been around for a long time. Topic:Death Benefits
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Lifetime Allowance calculations for different forms of protection

A summary of the Lifetime Allowance calculations which should be used for different forms of protection. Topic:Lifetime Allowance
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Tax-free cash under the lifetime allowance rules

With the introduction of Fixed Protection 2012, Fixed Protection 2014 and Individual Protection in addition to the existing Enhanced Protection and Primary Protection, this article is designed to summarise the calculations for each circumstance. Topic:Lifetime Allowance
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Scheme specific lump sum protection

Some individuals who are members of occupational pension schemes or section 32 policies are afforded a degree of protection, known as scheme specific tax-free cash protection. This article explains how this protection works. Topic:Taking Pension Benefits
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Lifetime Allowance calculations for different forms of protection

A summary of the Lifetime Allowance calculations which should be used for different forms of protection. Topic:Transitional Protections
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Capped Drawdown, Flexi-access and triggering the money purchase annual allowance.

April 2015 saw the introduction of one of the biggest changes to pensions ever seen. This is potentially changing the fundamental concept of a pension and what it can be used for. Topic:Annual Allowance and Carry Forward
Flower hand

Pensions from April 2015 – A summary

As we know, the Government intends that from April next year, individuals from the age of 55 with a defined contribution pension will be able to access their entire pension flexibly if they wish. The following summarises the main changes. Topic:Planning Solutions
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Pension salary/bonus sacrifice

Salary sacrifice allows an employee to give up an amount of their salary and replace it with an employer’s pension contribution creating a larger pension contribution than they would have paid themselves for the same or lower net cost. Topic:Pension contributions and Tax relief
Presentation

Flexibility in capped drawdown

A drawdown arrangement that allows a client the flexibility to lock in a higher capped drawdown income limit is invaluable. We examine the issues that can affect the maximum income under capped drawdown and the options in a drawdown arrangement that are required to take advantage of them. Topic:Taking Pension Benefits
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Lifetime Allowance calculations applicable after 5 April 2014

Table detailing the various lifetime allowance protections. Topic:Lifetime Allowance
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Facilitating income reviews

Following a period of change in the capped drawdown market, Adrian Walker looks at what functionality can help you get the best income result for your clients. Topic:Planning Solutions
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Registered pension scheme protection

This ‘Back to Basics’ guide lays out some of the fundamental facts needed to understand the different types of protection a member can have on their pension scheme benefits and how these are calculated. Topic:Lifetime Allowance
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Registered pension scheme protection

This ‘Back to Basics’ guide lays out some of the fundamental facts needed to understand the different types of protection a member can have on their pension scheme benefits and how these are calculated. Topic:Transitional Protections
Tailor

Defined benefit occupational pensions

This article explains the revaluation and escalation requirements that apply to Occupational pension scheme benefits. Topic:Escalation and revaluation
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Guaranteed Minimum Pension benefits

The following sets out in detail the rules applying to the GMP that apply to members with pre 6 April 1997 service in a defined benefit contracted-out scheme. Topic:Escalation and revaluation
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Spousal Bypass Trusts

This basic guide lays out some key fundamental information that will need to be understood for the use of spousal by-pass trusts with different types of pension scheme structure. Topic:Death Benefits
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Phasing Retirement

This article explains the tax benefits associated with phasing retirement income. Topic:Planning Solutions
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Block Transfers

This article explains what a block transfer is and how it can protect tax-free cash and early retirement ages when pension rights are transferred between pension schemes. Topic:Taking Pension Benefits
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Employer contributions

This article covers the impact that employer contributions will have in relation to the pension changes introduced from 6 April 2011. Topic:Pension contributions and Tax relief

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