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Jargon Buster

Unsecured Pension

A feature of the FA04 regime, in which payment of income withdrawals from a money purchase arrangement (or income paid from a short term annuity contract purchased from such an arrangement) is made to a member who is less than age 75.

Unauthorised Member Payment

With remarkable logic, HMRC tells us this is any payment which is not an authorised member payment or a payment which is deemed to be an unauthorised payment. There are unwelcome payments to HMRC triggered where unauthorised payments are made.

UEL

Upper Earnings Limit

Articles

The effects of Shari’a law on will drafting & estate planning

More and more families in the UK have some connection to Shari’a law. For the practitioner, the impact of Shari’a law raises certain challenges. First, advisers need to know that the wills they are drafting are valid. Second, Shari’a law can have an impact on standard UK estate planning.

This article summarises the conflict of law rules, to show how Shari’a law can be relevant, and then gives a very brief overview of the Shari’a laws of succession. Practical examples are included to show the issues that practitioners need to look out for.

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