Financial Planning Solutions frequently asked questions

It will allow you to get an indicative value of a client’s IHT liability, taking into account their assets and liabilities and any available nil-rate bands.

It gives a quick guide to the taxation of withdrawals from a collective, assuming a capital withdrawal. It utilises the part disposal formula for withdrawals as well as using any available annual CGT exemption.

This tool is designed to show how different wrappers can assist in the planning process and demonstrates how tax rates are only one part of the equation. It combines the part disposal and annual exemption for collectives alongside the 5% tax deferred efficient withdrawal facility of bonds and then uses this information to work out an estimated period withdrawals could be received before tax (other than income tax on the collective’s distributions) is payable given certain assumptions.

It will help you calculate a premium for each client when looking at business shareholder or partnership protection to help to ensure that each individual is paying an equitable (fair) amount of the cost of the arrangement to help to avoid any element of gift by an individual in the arrangement.