View more on these topics

Standard Life reopens its DGT plan

Standard Life has reopened its discounted gift plan from the end of this month.

Standard initially suspended its trust range earlier this year after the Budget announcement that many said created uncertainty around the tax status of gifts to trusts.

Standard estate planning specialist Julie Hutchison says this plan is eager anticpated by financial advisers as it allows both an initial gift an ongoing withdrawals, making it the most flexible plan for the majority of clients.

Hutchison says: “Two important milestones have passed. The dust is settling now that the Finance Bill has received Royal Assent and we have had clarification from HM Revenue & Customs on how the Finance Act applies to our discounted gift plan. After months of confusion and uncertainty the re-launch will mean advisers can return to business as usual in this important area of estate planning.

“But there is a knowledge gap. IFAs now have to get clued up on what different trust arrangements are available to them.”

Recommended

Firms plan to cut NPSS payments for new staff

The introduction of pension personal accounts could see 80 per cent of employers reduce contributions for new staff. A survey of 750 employers by Deloitte and sponsored by Standard Life, Scottish Widows, Aegon and Axa found the Government’s plans for an NPSS-style pension scheme is likely to result in a reduction in corporate provision. Total […]

BBB network placed in default by FSCS

The Financial Services Compensation Scheme has declared the former network Berkely Berry Birch in default, paving the way for consumers to receive compensation. FSCS chief executive Loretta Minghella says: “It is important for consumers to know that if they have had dealings with this firm, and believe they may have lost money as a result […]

American idle

The UK could follow the US, with rising rates slowing the market right down

Let us be more open-minded

Daniel Godfrey, The AITC’s viewInvestment companies have survived numerous crises in their 150-year history, perhaps none more challenging than the recent collapses in the split-capital sector. That is now behind us and the industry can start to focus on what is needed to thrive rather than just to survive. In some ways, the split-cap crisis […]

UK: mid-year review and outlook

By Mark Martin, manager of the Neptune UK Mid Cap Fund, and Scott MacLennan, manager of the Neptune UK Opportunities Fund H1 2014• Equity markets continued to show strength: despite a strong rally in 2013 driven by a market-wide re-rating, equity markets continued to generate positive returns for investors. Economic activity continued to be stimulated […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment