for financial advisers only


Today the Treasury published their response to the consultation ‘Freedom and choice in pensions’. The Government confirmed the general path they are following to prevent abuse of the new post April 2015 flexible regime by announcing a reduced annual allowance of £10,000 for certain individuals. Defined benefit transfers from funded public sector and private sector schemes are largely unaffected, whilst the Guidance Guarantee is beginning to take shape.

Retirement reforms and the Guidance Guarantee CP14/11.

Latest video

Building a decent retirement income. In our short video for use with your client, resident pension experts Jim Jarvie and Jon Hogg, explains how climbing the retirement mountain has become more of a challenge and that success will take careful planning and getting the right kind of expert advice, from an experienced financial adviser.

Download video transcript

Around the site


This article outlines the details of a recent court case and its implications for pensions and bankruptcy of an individual.

When pension benefits are taken, a test is carried out to determine whether the member has sufficient unused lifetime allowance. There are now a variety of lifetime allowance protections that makes this test increasingly complex. This table details the various lifetime allowance protections. It also explains how to value previous benefit crystallisation events at the point further pension benefits are taken.

Tax & Trusts

This article provides a high-level summary of who is liable to tax when an asset is held in a trust.

HM Revenue & Customs published its final consultation on the simplification of trusts in a document called 'Inheritance Tax: A fairer way of calculating trust charges' on 6 June 2014.


This article looks at the taxation of a collective investment when owned directly by a UK resident investor and considers any additional liability which may fall on the investor.

This article is designed to outline how life assurance and investment bonds could be assessed by UK local authorities and the impact this may have on means testing for residential care.

Financial Planning Solutions

This article discusses the effects of the reduction in the Lifetime Allowance and the alternative savings options other than your own pension.

This article discusses the effects of the reduction in the Lifetime Allowance and the options available under pensions.


Various exemptions are available to individuals who wish to give assets away so that they are immediately no longer included in their ‘estate’ for inheritance tax (IHT) purposes.

The pre-owned assets tax ('POAT') was introduced in the tax year 2005/06 and levies a charge to income tax on certain inheritance tax (IHT) planning schemes. POAT was introduced to levy an income tax charge on those schemes which had circumnavigated the existing ‘gift with reservation’ provisions which would otherwise have meant they were caught under the IHT rules.


This financial planning tool provides two calculations. One calculates the capital gain on a given withdrawal from an investment while the other calculates the amount of withdrawal which can be made when looking to utilise an individual’s or trustee’s available capital gains tax (CGT) exemption.

This financial planning tool has been designed to demonstrate how a UK authorised investment fund (collective) and a single premium investment bond can be used together to create tax-efficient withdrawals.