2018/19 Tax Year Changes & April 2018 Update

We have completed the latest upgrade to ATEB suitability on 5th April 2018.

Details of the enhancements can be found below, but some of the highlights are:

Upgraded MiFID II ‘Continued Suitability Review Letter’ Template

On further review and following feedback from our clients, we have implemented changes to the Charges section of our ‘Continued Suitability Review Letter’. Users now have the ability to discuss/include reference to the costs and charges reports received directly from product and/or platform providers in the previous 12 months; with the option to replicate/consolidate these (and any other applicable charges) in table format.

Users are able to choose whether they wish to enter these figures manually or have the charges table automatically calculate the sterling amount based on a percentage of the current fund value entered. The charges table calculates the total/aggregated charge for each investment in both (%) and (£) amounts.

For letters written on a joint basis, a plan owner can now be added to each individual investment within the charges table.

Pension Transfer/Switch Recommendations

Our ‘Recommendation Reasons’ and ‘Potential Disadvantages’ tabs have been reviewed and revised for all pension transfer/switch recommendations to ensure the suggested text provided at an Existing Plan/Scheme level is relative only to the action being taken (i.e. advice to transfer or switch) and not the new plan/product being recommended.

The Pension Transfer TVAS Yield tab for Defined Benefit Scheme transfers has also been enhanced to show a range of critical yield and hurdle rate figures in a table format with the ability to expand upon these outcomes further within a personalised free text box.

Full and Focused Independence Definitions

We have provided new ‘Full’ and ‘Focused’ Independence definitions within our ‘Covering letter Information’ tab to help support firms disclose/describe their independence status post-MiFID II. This revised section comes with a Help Text note and link to our Help & Support page providing further details on the types of products firms need to be able to advise upon to qualify as ‘Fully Independent’.

Tax Year End Changes

As always, our report writing software will be fully updated to accommodate changes to allowances, rates and reliefs in advance of the 2018-19 tax year.

Further details on all the changes that will be taking place can be found below.

Continued Suitability Letter Enhancements

Change at a glance



A new page has been added to the Continued Suitability Review Letter: ‘Costs and Charges’.

Costs and Charges page

An additional page has been developed in the CSRL which provides the option for the user to include discussion/reference to the cost and charges reports received directly from the product and/or platform providers in the previous 12 months with an optional appendix to replicate/consolidate these costs and charges in table format.

Add Client Name as Plan Owner in Charges tables.

Charges → Investment Charges → Plan Owner

If a letter is written on a joint basis (Basic client details → Is this letter to be written on a Joint Basis? = Yes), each individual Plan in the  Charges section prompts for the Plan Owner.

Total Aggregated Percentage.

Charges → Charges Table → Amount (%), Total Charge

The Charges table will now display the Total Aggregated Percentage at the bottom of the table in both the wizard and the letter. This option can be removed by inputting a sterling amount (£) without the corresponding percentage amount (%).

Add or remove Current Fund Value from Charges table.

Review Details → Introduce your Existing Investments → Do you wish to include a Current Fund Value?

The user now has the option of including or removing Current Fund Value from the Charges tables in both the wizard and final report.

Include or remove the calculation logic on the Charges table.

Charges → Charges Table → Do you wish the table to calculate the sterling amount (£) of each charge type entered as a percentage of the current fund value (£)?

Previously, the sterling amount was automatically calculated within the Charges table as a percentage of the Current Fund Value entered. This is now optional and a user can opt to enter the figures manually.

Suitability Report Enhancements

Change at a glance



Option to include ‘Initial Charges’ for Existing Plans/Products.

Report Builder → Retirement Advice/Investment Advice → Section Builder → Charges → Plan Builder → Existing Plan/Product → Charges


Initial charges can be included alongside the annual charges for top-ups to Existing Plans/Products.

‘Risk Warnings and Other Important Information’ subheading within the Covering Letter Information tab has been placed in a personalised free text box.

Getting Started → Covering Letter Information

New flexibility to personalise the subheading drawn through to the Covering Letter in final report.

Product Type – Retirement

Change at a glance



Suggested ‘Reasons’ and ‘Disadvantages’ text for Defined Benefit Transfer and Defined Contribution Switch recommendations have been revised at both the Existing and New Plan level.

Report Builder → Retirement Advice → Plan Builder → New/Existing Defined Contribution Plan/Existing Defined Benefit Scheme → ‘Recommendation Reasons’ & ‘Potential Disadvantages’

These have been revised to provide a clearer demarcation between the ‘Reasons’ and ‘Disadvantages’ text provided for an existing Plan/Scheme (when the advice is to ‘Transfer’ or ‘Switch’) and the ‘Reasons’ and ‘Disadvantages’ text provided for New Plan recommendations.

Enhancement to Pension Transfer TVAS Yield tab for Defined Benefit Scheme transfers.

Report Builder → Retirement Advice → Plan Builder → Existing Defined Benefit Scheme → Pension Transfer TVAS Yield

Pre-populated text options have been replaced with a table to clearly show a range of critical yield and hurdle rate outcomes at the client’s scheme and desired retirement ages (with or without PCLS).

Enhancement to Pension Projection table for Defined Benefit Scheme transfers.

Report Builder → Retirement Advice → Plan Builder → Existing Defined Benefit Scheme → Plan Details

The Pension Projection table has been re-formatted in final report to provide clarity and to ensure consistency with new Pension Transfer TVAS Yield table.

Product Type – Retirement & Investment

Change at a glance



Glossary and suggested text options provided throughout report updated in preparation for the 2018/19 tax year.

Report Builder → Retirement Advice/ Investment Advice & Glossary

Suggested text appropriately updated to accommodate for a reduction in the Dividend Allowance and increases in the Lifetime Allowance, CGT Allowance and JISA limit among others.

Product Type – Mortgage

Change at a glance



‘Surveyors Report’ optional for remortgage advice

Report Builder → Mortgage Advice → Plan Builder → Mortgage Details → Remortgage


To accommodate circumstances where no surveyors/valuation report is required prior to a remortgage application being finalised the reference to a ‘Surveyors Report’ is now optional.

Please don’t forget we have a collection of ‘how to’ guides, articles and hints/tips via an FAQ which is available now on our Help & Support Portal.

Our support team are available 9am – 5pm / Mon – Fri to answer any further questions you may have Contact Details Here.

Many thanks for your continued use of ATEB suitability.

Important Note: ATEB news is intended to provide general information ONLY. The content, including any views expressed or guidance provided, does not replace the need to comply fully with FCA Rules and Guidance. Unless you have discussed news article content with ATEB, and specifically how it relates to your circumstances, then ATEB disclaims all liability and responsibility and actions arising from any reliance placed upon it. For the avoidance of doubt therefore, any reliance you place on such information without our consultation is at your own risk.

ATEB Compliance offers compliance and regulatory advice.

ATEB Suitability provides report writing software for the financial services market.

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About the Author

Director - Having joined us directly from university, David quickly developed into an indispensable member of the team. As our IT Director he is responsible for ATEB’s technology strategies, security systems and platforms. He has been at the forefront of the development of ATEB Suitability and instrumental in ensuring that the complex regulatory requirements are catered for in an interactive and intuitive fashion. He would be delighted to discuss its capabilities with you in more detail.

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