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Home Avail Blog April 2017/18 Tax Update

April 2017/18 Tax Update

We are pleased to confirm that the Avail Suitability System is now fully updated for the 2017/18 tax year.

Updates include:

*Isa and Junior ISA allowances updated to £20,000 and £4,129 respectively

*Addition of new LISA paragraphs

*Pension Lifetime Allowance reduced to £1.0 Million

*Reduced MPAA to £4,000

*State Pension and other State Benefit figures updated

*Changes to all tax rates including IHT, Income Tax and CGT

*Tax treatment of Interest Distributions for Collective Investments updated to reflect gross payments

Future Updates.

Avail is pleased to announce that our all new Final Salary to Money Purchase Pension Transfer Report will be available shortly after extensive testing and client feedback.

We are also in the process of updating all company descriptions and these will be available shortly.

Lastly, we have been working hard after guidance issued by the FCA and FOS on suitability letter construction. The feedback we have received is that a number of users would prefer to start their suitability letters in a different manner, effectively providing a 2 page executive summary which explains in clear plain language the main points of the advice. This will be facilitated in the Avail system, but will be a choice for the user and not a mandatory format.

We will keep you informed of progress on these updates

If you have any queries with regards these updates, Please contact The Avail Team.

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