Monthly Web Release 13/09/2023

Monthly Web Release 13/09/2023

Dear Client,

We are pleased to advise that our next Portal release will be implemented on the evening of Wednesday 13th September. 

This release includes both improved features and minor fixes to functionality in the Portal, the details of which can be found in the notes below.  We would ask that you review these items and cascade to your teams as appropriate.

In the event that there are any changes to what we have shared with you, then we will provide a follow-up note at the earliest opportunity. 

Improved Features

HWPLAT – 2736 Pension Allowance Increase from £40,000 to £60,000.

In order to support the increase in annual pension allowance, we have implemented the following:

1a.  Annual allowance updated to allow contributions to £60,00 

1b. Portal wording update -"You may contribute up to £60,000.00 in the current tax year before becoming liable for a tax charge. Please note that this figure may vary if you have triggered the MPAA, have carry forward available, or are affected by the tapered annual allowance."

2a. Update tax relief option - Capon illustration tax relief for eligibility option A/B to   £36,000

                2b. MPAA Increase to £10,000 from £4,000

2c. Illustration wording update -“the illustration assumes that a basic rate tax relief is available for the full contribution”

HWPLAT-2779 Adviser list in Adviser Portal

Based on client feedback, we have made a minor improvement to the adviser list in the “Select adviser” drop-down in the portal, so that they now display in alphabetical order.

HWPLAT-2781 Default Payment Method in Adviser Portal

When adding an account contribution in the Adviser Portal,the default payment method will now be “electronic payment”.

HWPLAT-3031 Pension application and drawdown options

As we now have the “Drawdown Required” configuration option and the information it captures, if enabled, we have updated the application form updated to include this information too which will ensure that the investo rhas a complete picture of what they are signing for.

Fixes

HWPLAT-2514 Updating only the frequency value for anexisting income withdrawal record is now an allowed amendment action.

HWPLAT-2653 Illustrations produced for Floating BPS modelsnow use the drifted weighting values rather than the original weighting values.

HWPLAT-2769 JISA applications now persist the selectedtransfer type value when saving and reopening the application.

HWPLAT-2923The categories list in the MI Reports screens nolonger loads with the same category repeated for the whole list, a previousintermittent error.

HWPLAT-3230 In the Maintain Investor Details screen, updates to the TIN and/or Country of Taxation values are now immediately reflected upon committing the update, rather than requiring the screen to be refreshed.

HWPLAT-3271 The Investor Portal now correctly displays themarital status under the Personal Details screen again.

HWPLAT-3272 Drawdown illustrations generated when using theCompany Session option to view another company’s environment will no longer fail.

 HWPLAT-3275 Illustrations using the CTC Elementsengine (drawdown) no longer fail when the investor’s marital status is set asCommon Law.

Should you have any questions then please raise a Freshdesk ticket.

Kind regards,

Jo Jones

Managing Director