Our report writing software has been fully updated to accommodate changes to allowances, rates and reliefs in advance of the 2023/24 tax year.
Full details can be found below:
Pensions
- ‘Annual Allowance’ amount updated to £60,000.00.
- Adjusted income threshold amount for the ‘Tapered Annual Allowance’ updated to £260,000.00.
- ‘Money Purchase Annual Allowance’ amount updated to £10,000.00.
- All ‘Lifetime Allowance’ content has been updated or removed from the application to accommodate removal of the lifetime allowance tax charge.
Investments
- ‘Dividend Allowance’ amount updated to £1,000.00.
- ‘Annual Exempt Amount’ updated to £6,000.00.
- Maximum investment amount for ‘Seed Enterprise Investment Schemes (SEIS)’ updated to £200,000.00.
Please don’t forget we have a collection of ‘how to’ guides, articles and hints/tips via our FAQs which are available on our Help & Support Portal.
Our support team are available 9am – 5pm / Mon – Fri to answer any further questions you may have support@atebsuitability.co.uk / 0191 338 8177.
Pension Transfer charging
Alistair MacDougall Compliance abridged, FCA, P1, Pension, Pension Transfer, PI, transfer
Policy Statement PS 20-06 stated that a firm providing pension transfer advice “… may also not charge less than it would charge for investment advice of the same value”. That seems clear enough, but the rule that gives effect to this statement is subtly different. COBS 19.1B.7 states: “A firm should not charge less […]