Life Assurance

Changes introduced by the Finance Act 2006 meant the providers of inheritance tax (IHT) solutions needed to review these strategies to see how they may be affected by the changes.

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.

There are several ways to establish partnership/shareholder business protection. This article outlines some of the key considerations and options.

A lender often makes it a condition of a loan that some of the directors and key employees have life insurance cover. In fact, the lender may not advance the money until the cover is in place. In this article we look at some of the key considerations for business loan cover.

Unlike the other forms of business protection, partnership or shareholder protection covers individuals rather than the company. In this article we look at the key considerations for this type of cover.

Any business could suffer if a director or key employee died or became critically ill. As well as the day-to-day problems of covering the absence, losing a key person can have a serious effect on the company’s finances.

Working out the sum assured needed for each key employee is not an exact science. This article outlines the key considerations.

The Rysaffe case is often referred to within trust planning. It demonstrates that there are various ways of using multiple trusts in order to achieve effective trust planning. This article sets out the key Rysaffe principles and gives you example scenarios that you can use with your clients.

Trusts

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.