Nucleus is set to expand the range of protection products available on the wrap to include inheritance tax and death-in-drawdown policies, among others.
Pension providers who automatically increase clients’ drawdown income to 120% GAD could push clients into a higher tax bracket warns Hornbuckle Mitchell.
IHT Planning Matters head Peter Legg talks about the current political motivation to clamp down on tax avoidance and what implications it could have for the planning of inheritance tax.
With restrictions on annual pension contributions being cut from £50,000 to £40,000 and the lifetime limit on savings qualifying for tax reliefs dropping from £1.5m to £1.25m for the 2014-15 tax year, retirement planning for high net worth individuals has never been more challenging.
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