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.
Trust Registration Service – update
John Begg Compliance 2017, 2020, 2021, EU, ML, Pension, PI, Register, transfer, Update
New rules, transposing the Fifth Money Laundering Directive (5MLD) into UK law took effect on 10 January 2020. One impact of the rules was to broaden the scope of the Trust Registration Service (TRS) requirements. you can read more about 5MLD and TRS here. In brief, the previous rules required that all express trusts that […]