Tax Efficient

Highlights of the BPR Masterclass at the offices of BDO in London where an audience of 44 financial advisers and wealth managers heard presentations from Tony Mudd of St James’s Place; Jason Butler of Bloomsbury Wealth; David Brookes of BDO; Simon Ruthers & Oliver Hughes of Oxford Capital; Eddie Grant & Gabrielle Beaumont of Ingenious; Justin Waine of Puma; and Henny Dovland of TIME.

Jason talks about where BPR fits into the overall picture, the criteria he uses to select products and providers, whether you should ever let the tax tail wag the investment dog and the three potential changes to BPR legislation that he foresees.

Henny discusses key questions advisers should ask of both products and the team behind them, the importance of scalability, the nature of the underlying trades, why BPR products could be essential for business owners and why BPR is a great way for advisers to add value for their clients.

Justin shares the secrets of successful stock picking on AIM when your objectives are capital preservation and IHT relief, and gives us an insight into Puma’s BPR service and his views on any potential challenge to BPR from HMRC.

Simon discusses BPR and liquidity, how Oxford Capital structure their product to address the impact that additional liquidity has on returns, gives his views on possible changes to BPR legislation and talks about Oxford Capital’s “decency cap” on fees.

David considers the popularity of BPR vs trusts, the outlook for the legislation around the relief, BPR vs EIS and the key areas advisers should look into when sourcing product.

Tony discusses risk and client suitability, talks about some of the scenarios where BPR is uniquely placed to provide a solution and gives his views on the differences between tax avoidance, tax evasion, tax mitigation and tax planning.

Richard Farley, CEO and Founder of Kidspace and Mark Gross, Investment Director of Downing discuss the impact of Downing VCTs’ investment.