In January, the Lancashire and Cumbria branch took a lively and informative look at pensions and inheritance tax.

Gareth Jones of Hornbuckle Mitchell, sponsors of the meeting, highlighted pension planning opportunities. These included maximising contributions, benefit options, and lifetime allowance charges as well as carry forward and taking advantage of pension input periods to maximise contributions.

Mr Jones provided an overview of retirement options; capped drawdown, flexible drawdown, annuity purchase, and the scheme pension available via Hornbuckle Mitchell. He summarised the changes to lifetime allowances, and options available.

Mark Simpson of Simpson Burgess Nash Chartered Accountants, showed how Financial Planners and tax advisers can provide collaborative client solutions, in a lively presentation entitled Inheritance Tax – Traps and Cunning Plans.

Presenting a number of IHT planning solutions, he showed that there were many opportunities for planners and tax advisers to work together. In a whirlwind tour, IHT onsiderations including gifts with reservation of benefit, taper relief, business and agricultural property relief, diminution of value, the transferable nil rate band, gifts of shares in various types of property were covered. Potential client situations and creative technical solutions provided a new perspective.

Paul Jones CFP^CM, branch chairman, said: “It was great to see delegates interacting with the speakers and networking with one another while enhancing and refreshing their technical knowledge.”