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by Jabd2001
September 16th, 2019, 12:30 pm
Forum: Investment Trusts and Unit Trusts
Topic: Discretionary Trust >Investment Trusts.
Replies: 18
Views: 690

Re: Discretionary Trust >Investment Trusts.

There are two issues here. One is the setting up and administration of the discretionary trust - ie who are the trustees. The second is the investment strategy to be used within the Trust. These should be considered separately when you are thinking about charges. There is nothing to stop you managin...
by Jabd2001
September 16th, 2019, 12:20 pm
Forum: Retirement Investing (inc FIRE)
Topic: Thinking of retiring early @55
Replies: 15
Views: 759

Re: Thinking of retiring early @55

Agree with all the points so far. A few further questions/observations: How are your SIPPs/ISAs currently invested? What asset allocation and investment strategy? How would you want to change that once you switch from saving to spending down - its quite a psychological change. As well as determining...
by Jabd2001
September 13th, 2019, 7:28 am
Forum: Brokers and Share Dealing
Topic: Alliance Trust Savings taken over by Interactive Investor
Replies: 102
Views: 5225

Re: Alliance Trust Savings taken over by Interactive Investor

@parky - that sounds about right. As I was perusing the document I noticed that it’s not possible to pay in by cheque to II, only by debit or credit card. That will cause me some problems with my accounts.
by Jabd2001
September 12th, 2019, 4:24 pm
Forum: Brokers and Share Dealing
Topic: Alliance Trust Savings taken over by Interactive Investor
Replies: 102
Views: 5225

Re: Alliance Trust Savings taken over by Interactive Investor

@parky - did you get a specific email notification as a Trust account holder? There seem to be tailored communications depending on type of account. It seems to me that II are prepared to take over legacy accounts of types they don’t normally cater for, (eg child accounts other than JISA) but will n...
by Jabd2001
August 29th, 2019, 2:27 pm
Forum: Brokers and Share Dealing
Topic: Ive had enough of interactive investor, recommendations?
Replies: 56
Views: 4089

Re: Ive had enough of interactive investor, recommendations?

@dod thanks, but that’s not a solution that will work in this case.

I will just have to wait and see what happens on migration.
by Jabd2001
August 29th, 2019, 1:36 pm
Forum: Brokers and Share Dealing
Topic: Ive had enough of interactive investor, recommendations?
Replies: 56
Views: 4089

Re: Ive had enough of interactive investor, recommendations?

That is our legal advice, I’m not going to explain it further here, sorry.
To get back on topic - II don’t allow bare trusts - there is no facility for accounts held on behalf of a minor.
by Jabd2001
August 28th, 2019, 3:12 pm
Forum: Brokers and Share Dealing
Topic: Ive had enough of interactive investor, recommendations?
Replies: 56
Views: 4089

Re: Ive had enough of interactive investor, recommendations?

It’s a contingent bare trust account (accessible at 25 rather than 18). You might think it would be straightforward to provide, but my email from II was very clear that they do not allow such accounts.
by Jabd2001
August 27th, 2019, 6:54 pm
Forum: Retirement Investing (inc FIRE)
Topic: When to stop/reduce pension contributions and rely on growth?
Replies: 21
Views: 1375

Re: When to stop/reduce pension contributions and rely on growth?

Thanks, looks like I’ll be ok with 55 then. Although with the current govnt, old rules seem there to be ignored/ripped up.
by Jabd2001
August 27th, 2019, 6:31 pm
Forum: Brokers and Share Dealing
Topic: Ive had enough of interactive investor, recommendations?
Replies: 56
Views: 4089

Re: Ive had enough of interactive investor, recommendations?

Thanks Parky. I contacted II and they confirmed they do not hold accounts for minors, and had no idea what would happen with ATS accounts for minors. This was some time ago. I didn’t ask specifically about other sorts of Trust. I have also teed up accounts with HL. It’s not ideal, because all the tr...
by Jabd2001
August 27th, 2019, 4:29 pm
Forum: Brokers and Share Dealing
Topic: Ive had enough of interactive investor, recommendations?
Replies: 56
Views: 4089

Re: Ive had enough of interactive investor, recommendations?

the remaining accounts are Trust accounts, and I'm hoping they will transfer the physical copies of Trust Deeds etc. without any need for me to supply anything else. If I transferred the Trust accounts now, I would be involved in getting certified copies of Deeds etc. No thanks. Parky, I also hold ...
by Jabd2001
August 27th, 2019, 4:21 pm
Forum: Retirement Investing (inc FIRE)
Topic: When to stop/reduce pension contributions and rely on growth?
Replies: 21
Views: 1375

Re: When to stop/reduce pension contributions and rely on growth?

Sorry cross posted.
What is the proposed timetable for increasing the access age, JohnB? I’m 53, SP age will be 66 before I turn 55. Am I likely to have to wait a year?
by Jabd2001
August 27th, 2019, 4:19 pm
Forum: Retirement Investing (inc FIRE)
Topic: When to stop/reduce pension contributions and rely on growth?
Replies: 21
Views: 1375

Re: When to stop/reduce pension contributions and rely on growth?

The stated intention is for access to SIPP to rise to be state pension age minus 10 years. That said, SP age reaches 66 next year and the rules have not yet changed so I am not sure of the timing of that move. But you’re only 45, your state pension age is likely to be 68 and I would think your acces...
by Jabd2001
August 27th, 2019, 7:44 am
Forum: Legal Issues (Practical)
Topic: Conditional Inheritance
Replies: 23
Views: 1500

Re: Conditional Inheritance

@vrdiver you’re absolutely right of course, but I think this just proves the point. The real issue here is the brother expecting to be bailed out. This is leading to complicated inheritance issues which will add to the family’s grief, rather than solve it. The brother is of course going to resent wh...
by Jabd2001
August 26th, 2019, 9:56 pm
Forum: Legal Issues (Practical)
Topic: Conditional Inheritance
Replies: 23
Views: 1500

Re: Conditional Inheritance

People in this family need to stop enabling the brother. I appreciate the sister has already lent the money, under duress from her mother, but it really has to stop. I predict a big falling out in the family after the mother dies. Therefore you need the simplest most bombproof solution, which I thin...
by Jabd2001
August 23rd, 2019, 8:49 pm
Forum: Taxes
Topic: Exceeding the lifetime allowance
Replies: 12
Views: 1203

Re: Exceeding the lifetime allowance

what is your aim for these funds? If you are wanting to maximise the amount left to children, I think it would be better to leave the funds inside the pension and the LTA excess tax will be paid on your death. That way the amount left in is still sheltered from IHT, which it won’t be if you put it i...
by Jabd2001
August 22nd, 2019, 12:31 pm
Forum: Bank Accounts Savings & ISAs
Topic: NS&I ILSCs: consolidating
Replies: 6
Views: 964

Re: NS&I ILSCs: consolidating

I can’t comment on inheritance issues, but I have ILSCs. These were bought in three separate tranches and obviously have different maturity dates, so roll over at different dates into whatever deal is on offer at that time. I get one written statement listing all the certificates, with their maturit...
by Jabd2001
August 21st, 2019, 5:24 pm
Forum: Pensions - Practical Problems
Topic: SIPP and Work Pension
Replies: 7
Views: 1145

Re: SIPP and Work Pension

ursaminortaur wrote:
I can't actually see much about the DB calculation in that link.

.


Down at the bottom, you need to click through. But I’m sure your info is better ;)
I was trying to find an ‘official’ source, but searched in vain on gov.uk.

Btw, HTH means ‘hope that helps’
by Jabd2001
August 20th, 2019, 5:51 pm
Forum: Pensions - Practical Problems
Topic: SIPP and Work Pension
Replies: 7
Views: 1145

Re: SIPP and Work Pension

Btw if you did need money from your SIPP, you could avoid triggering the MPAA by simply taking the 25% tax free cash. But you said you specifically wanted to take taxable money, and that will certainly trigger it.
by Jabd2001
August 20th, 2019, 5:49 pm
Forum: Pensions - Practical Problems
Topic: SIPP and Work Pension
Replies: 7
Views: 1145

Re: SIPP and Work Pension

For further information, as noted above the MPAA restriction only applies to contributions to DC or AVC contributions. However, if you don’t need the money, you might regret restricting yourself in this way for the sake of saving a few thousand pounds in tax - the restriction is permanent. And what ...
by Jabd2001
August 18th, 2019, 5:02 pm
Forum: Legal Issues (Practical)
Topic: Will help
Replies: 26
Views: 1685

Re: Will help

I think strictly speaking, any residual beneficiary (ie someone who receives a division of the estate once any specific legacies have been given) is entitled to see the accounts. But there's no reason not to be open if people want to see it.

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