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Important update: tax year end guidelines

 

In order to help manage your diaries and client appointments at this important time of the year we are communicating our tax year end deadlines. We hope you find this information useful and if you have any questions then please do not hesitate to contact our Client Services Team on 0117 975 2355.

2017/2018 Deadlines:

Friday 17th  March 1pm Cut off for receipt of payment request from Portal Personal Pension drawdown clients wishing to take a drawdown payment in 2016/2017 tax year.

Cut off for receipt of payment request for UFPLS and Small Lump Sum Payment for Portal Pension clients wishing to receive a payment in 2016/2017 tax year.
Tuesday 21st   March 1pm Cut off for clients with Non Portal uncrystallised pension benefits with Sanlam wishing to crystallise before the end of the 2016/2017 tax year.

Cut off for receipt of payment request for UFPLS and Small Lump Sum Payment for Non Portal Pension clients wishing to receive a payment in 2016/2017 tax year.
Thursday 23rd  March Cut off for receipt of payment request from Non Portal Personal Pension drawdown clients wishing to take a drawdown pension payment in 2016/2017 tax year.
 
Thursday 23rd  March Cut off to instruct ad-hoc movement of funds from Sanlam GIA to Sanlam ISA.
Thursday 23rd  March If a client wishes to send in an ISA application and cheque for tax year 2017/2018, this is the first day when Sanlam will be able to accept post-dated cheques for these ISA subscriptions.
Tuesday 4th  April 5pm Cut off for ISA subscriptions/pension contributions to be received at Sanlam’s office or for direct credits to be received in Sanlam’s client money bank account.
Applications must be complete in all aspects and accompanied by a valid cheque, which is subsequently honoured. For ISAs cheques these must be from the investor’s own account.
Cheques to be made payable to ‘Sanlam Financial Services UK Limited’ and must clear in due course.
Wednesday 5 April 2016/17 TAX YEAR ENDS
Thursday 6 April First business day of 2017/18 tax year.

Cash received on or after this date will be applied to the 2017/18 tax year. There can be no carry back to the previous tax year.

 

Sanlam Bank Account

For an electronic transfer/direct credit, please instruct your bank/building society to send the payment to:
 
Account Name: Sanlam Financial Services UK Limited CMA
Sort Code: 20-13-42
Account Number: 70514543
Bank: Barclays
Branch: Queens Square RMS

Bed and ISA

Standard practice today is to ensure clients utilise ISA subscriptions at the start of the tax year, to maximise their tax benefits. Our GIA applications incorporate this option which enables our system functionality to allow the transfer to be executed automatically. To utilise this feature it must be set up on our system before the close of the preceding tax year.

2017/18 Allowances

ISA £20,000

IMPORTANT NOTES

Sanlam are not able to lend money to clients to fund ISA subscription allowances. Early action is advised to ensure clients do not lose their allowances.

Investing involves risk and the value of investments and the income from them may fall as well as rise and are not guaranteed. Investors may not get back the original amount invested.