Q. My father has gifted me a large amount of money and with it we intend buying a house and setting up a trust for the children. I understand that my father has to survive 7 years before the gift escapes inheritance tax. What would happen if he did not survive 7 years? A. The gift… Read more »
Q. I am 57. Last November I took out an Income Drawdown plan. After the changes in the budget, can I now cash in the entire fund? A. The answer is possibly. The full flexibility is due to come in from April next year, allowing time for consultation on the exact rules. In the meantime, there are… Read more »
Q. I am approaching retirement and I have received a letter from my pension provider detailing the level of income I am likely to receive in retirement (depending upon which of the options, detailed in their letter, I prefer). I had intended simply to take the retirement income offered by my existing pension provider; however, I… Read more »
Q. I inherited some shares from my aunt when she died in 2004. I am about to give birth to my first child and I would like to sell the shares in order to top up my maternity pay and to buy equipment for my child. Please can you tell me whether I will have… Read more »
Q. You have provided some interesting information recently regarding the forthcoming reduction to the maximum amount one can save into a pension. I am several years away from retirement and, whilst my retirement savings are not yet at a level where they will exceed the threshold, I suspect that the total value of my retirement savings… Read more »
