Prudential is adding a further three trusts to its inheritance tax planning product suite and is arming advisers with revamped sales aids.An excluded property trust, lifetime nil-rate band trust and discounted gift trust are being launched by Pru to bring its range to a total of 16 trusts. The excluded property trust is aimed at people not currently UK-domiciled, ringfencing offshore investments from UK IHT if the client subsequently becomes UK-domiciled. The lifetime nil-rate band trust is targeted at UK-domiciled married clients or civil partners who want to make use of the nil rate bands. Pru’s discounted gift trust allows the person taking it out receive a regular payment for life with the amount fixed from the outset. The rest of the trust fund is sheltered from IHT and held for the beneficiaries. Pru now provides both an onshore and offshore version of its discounted gift trust. With an estimated 37,000 estates liable for IHT in the 2005/06 tax year, 68 per cent of people are falling into the IHT net. Pru taxation & trust man- ager Paul Kennedy warns property price growth has pushed far more individuals into the IHT trap although many are unaware of this. He says: “Inheritance tax has traditionally been seen as a tax on a wealthy minority. That is all changing. It is becoming a mainstream tax but one for which you can plan.”
The Exchange has announced a number of roadshows aimed at showing existing subscribers how they can maximise the value of its service.The events will take place in Southampton, Chelmsford, Manchester, Cheltenham, Newcastle on Tyne and Bristol in February and March.They will last two and a half hours with delegates having the opportunity to share business […]
Consultancy Impact Plus has called for much greater transparency for multi-tie deals to clear up consumer confusion.
I am a great admirer of Robin Geffen and believe he is the best global fund manager in the UK.
Mirror takes on client service and pays ongoing income
By Fiona Tait, Pensions Specialist Ros Altmann reportedly hoped for more product innovation following pension freedom¹ and, according to one poll, 66 per cent of advisers also believe that providers should be doing more². This article considers whether there is a real client need for new products, or whether we should be focusing our attention on efficient delivery […]
- Top trends
News and expert analysis straight to your inboxSign up
Latest from Money Marketing
Offsetting the cost of advice this way would benefit clients and advisers alike One of the multiple barriers to better take-up of financial advice is that some people are unwilling or unable to meet the upfront cost. In response to this, the government has allowed people to take small chunks (three lots of £500) out […]
Fund managers like to trade off having a unique style. There thousands of funds out there to choose from – the question I often hear from advisers is: what makes this person different? Sometimes this can be a really tough one to answer. “We invest for the long term” is all fine and good, but […]
With rising costs and an increasingly tough regulatory market more advisers are looking to outsource their investment proposition, with many leaning towards discretionary fund managers. But while the number of advisers using DFMs is on the up, overall satisfaction with them has dipped. According to a recent survey by financial information firm Defaqto, 74 per […]