11th November 2016
Prudential: Planning for a £50,000+ tax-free annual income
Les Cameron, Head of Technical at Prudential, explores how applying the new Finance Act 2016 provides an opportunity to simplify, which could result in attractive outcomes.
“Fools ignore complexity. Pragmatists suffer it. Some can avoid it. Geniuses remove it”. – Alan J Perlis (19922 – 1990) American computer scientist, Professor at Yale University and first recipient of the Turing Award.
It’s well known that change can cause confusion, and confusion often leads to inaction. It’s the role of the financial advice industry to understand, translate and simplify the complication that often accompanies change, with a view to helping clients take advantage of any opportunities that change provides. The Finance Act 2016 (which received Royal Assent on 15 September 2016) provides ample opportunity to practice interpretation and simplification skills. Some of the recent changes are summarised below, together with a practical example of how applying the new legislation can produce attractive outcomes.
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