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Full Private Banking Advice
Keith Edwards
James Johnsen
Amanda Loram

Investment Management
Graham Hughes

Pensions Advice
Stephanie Bebbington-Dyke
Peter Burton

Banking Deposits
Phillip Slade

Bank Lending
Sue Best

Tax Compliance
Karen Blake

Trust Administration
Ann Hallett

Pension Rights

After April 6th 2006 (A-day), when claiming benefits, individuals may have pension rights equal to a new Life Time Allowance (LTA), with a capitalised value of:

• 2007/08 £1,600,000
• 2008/09 £1,650,000
• 2009/10 £1,750,000
• 2010/11 £1,800,000

In 2011/12, the next five years’ increases will be announced by the Treasury.

Primary Protection

• Those with benefits above the Life Time Allowance on A-day can apply for transitional protection for their fund. The application must be made within three years of A-day.

Enhanced Protection

• Transitional protection is also available for those with funds likely to be above the Life Time Allowance at a future benefit crystallisation or withTax-Free Lump Sums above 25% that they would like to ‘phase’. No further ‘relevant benefit accrual’ may occur and the application for protection must be made within three years of A-day.

Penalty Taxation: any benefits drawn above the Life Time Allowance will suffer tax at a total effective rate of 55%.