April 2010 Budget & Tax Year Updates

As part of our commitment to continuously improve the Paraplanning Online software and ensure it remains the leading and most innovative Suitability Report writing solution available on the market; we are pleased to announce the following updates and enhancements have recently been, or soon will be, applied to the software to reflect the March 2010 Budget, the imminent change of tax year, compliance directives and the valued feedback we have received from you, our customers. All tax year sensitive changes will take effect from 8.00am Tuesday 6th April.

Introduction

• The new Additional 50% tax payer rate will be added to the drop down menu in the Client Details section

• A fail safe modification has been applied to ensure that it is no longer possible to include more than one Introduction section in any given report

• Following compliance feedback, the following wording has been added to the standard remuneration statement for both the fee and commission option "Please note - Any trail commission will go towards covering the cost of the ongoing servicing and availability of advice associated with the recommended product."

• Following compliance feedback, the standard warning text regarding limited / focused advice has been edited slightly

• Following compliance feedback, "Lasting Power of Attorney" will be added to the sub heading of "Wills" in the section relating to "Other areas of financial planning not addressed but deemed important"

Investment Recommendation

• Following their withdrawal from the market place on 26/2/10, Aviva have been removed from the list of company drop downs for Offshore Bonds

Mortgage Recommendation

• The standard text has been updated to reflect the changes to Stamp Duty Tax announced in the March 2010 Budget

Pension & Pension Switching Recommendation

• Both sections will be updated to reflect that from the turn of the tax year, benefits from a pension can be taken at any time between the ages of 55 and 75, and that higher rate tax relief will be restricted on pension contributions for people with incomes in excess of £130,000

Appendix

• The Aday Technical Notes will be updated to reflect the above, as well as the change in the Lifetime and Annual Allowances

• All of the Notes on Financial Products relating to pensions will be updated to reflect the above

• The Technical Notes on Offshore vs Onshore Bonds will be updated to reflect the introduction of the new additional tax rate

• The Technical Notes on Chargeable Events will be updated

• The Notes on Financial Products relating to ISAs will be updated to reflect the changes in the annual allowances

• The Notes on Financial Products relating to onshore bonds will be updated to reflect the introduction of the new additional tax rate