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18 September 2012
MIKE TRUMAN reports the highlights of the event held at the University of Warkwick
SPEAKERS
- Chris Whitehouse 5 Stone Buildings
- Peter Rayney Peter Rayney Tax Consulting
- Stephen Ward Premier Pension Solutions
- Mark Morton Mercia Group
- Mike Thexton Thexton Training Services
Life insurance bonds
Talking about the underused inheritance tax relief for normal expenditure out of income Chris Whitehouse explained that in the past HMRC had accepted that the 5% “tax free” income paid from a single premium life insurance bond was still to be treated as income for the purposes of the relief.
They will no longer accept this and Chris said that they are looking for a test case.
Peter Rayney said that a common approach is to take the firm’s accounts for the last three years and make appropriate adjustments.
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