Meemoh

Hi, I have a question regarding how the lump sum allowance works with respect to death benefits. If I die I have nominated the following beneficiaries (but I believe all are discretionary i.e. trustees have final decision): 1. Workplace pension - spouse (I understand they can choose whether to receive lump sum or drawdown/installments) 2. Death in service - spouse (has to be a lump sum) 3. Death in service for dependents (2 children under 18, has to be a lump sum) I have the following questions 1. If I die, does the lump sum allowance apply to all of three items above? 2. If this is the case, and the total value of these items exceeds £1.073m, I understand that the beneficiaries would have to pay income tax at their marginal rate. As there are three beneficiaries nominated, how would the lump sum allowance be applied to their respective benefits? 3. Assuming all three items are discretionary, am I correct in thinking they are not liable for IHT? Thanks

Hi, I have to fully replace a bathroom at a rental property, due to an extensive leak. The bathroom currently consists of tile walls and floor, bath with shower over, basin, WC, radiator, storage. This will be replaced with panels (instead of tiles), shower enclosure (instead of bath), towel radiator (instead of radiator), basin, WC and storage. Based on this, would you agree that everything except for the towel radiator would be income expenditure (as it is replacing not improving - and in fact, we are only going to have a shower, not a bath going forward)? Thank you.