Case studies

Protecting against a fall in the Lifetime Allowance for pensions savings

New limits on tax relief annually and over a lifetime – mix of DB and DC savings – top-up promises

Introducing a Corporate Partner to an LLP

New 50% rates of income tax versus lower corporation tax rates – reduced taxes overall – allows pension contributions to be maximised

Achieving a tax-free payment on termination of employment

Payments related to disability – compromise agreements – more than £30,000 tax-free

Using a family trust to save Capital Gains Tax (CGT) as well as Inheritance Tax (IHT)

Principal Private Residence (PPR) relief extended to beneficiaries – large CGT savings – long-term IHT planning

Using the Enterprise Investment Scheme (EIS) to save a large amount of Capital Gains Tax (CGT)

Rollover relief of gains – change the order between gains and losses – other valuable tax reliefs

Finding a strategy for drawing pension benefits that reduces taxes across a family unit

Changes to tax rates for lump-sums – new drawdown options – consider income tax and inheritance tax (IHT) – combine tax and wealth management advice