Downing Estate Planning Service Application Form

Transcription

1 1. About the invest Title: First name(s): Surname: Date of birth: / / Country of birth: Nationality (please specify all): National Insurance number: Permanent residential address: Postcode: Country of residence: Contact number: address: Please note that we will send you acknowledgements/valuation statements by to the above address. If instead you would like these by post, please tick this box. Crespondence address (if different from above; this may be care of your adviser) Address: Postcode: Country: Is a person with a power of attney making this application? If yes, please provide the name and address of the power of attney: Name: Address: Postcode: Country: If there is me than one power of attney, please provide the name and address f each one on another sheet. Please note that if a lasting power of attney does not have a specific delegation of discretion authity, the lasting power of attney cannot invest in this service. Page 1 of 12

2 2. Country(ies) of tax residence Tax regulations require us to collect infmation about each invest s tax residency. Are you a tax resident, do you complete tax returns, in any country other than the UK? If you answered, please list the country(ies) in which you are a resident f tax purposes, together with any tax reference number(s): Country(ies) Tax reference number(s) 3. About the investment How much are you investing? (the minimum investment is 25,000) What is the source of your subscription? (e.g. savings, earnings, proceeds from a capital gain, etc.) Please indicate how you will pay your subscription By cheque Cheques should be made payable to Thompson Taraz Downing Client A/C re (the FCA regulated Custodian) By bank transfer Bank transfers should be made to: Account Name: Thompson Taraz Client Account Account number: St code: Please put your surname and initials as the payment reference to help us identify your payment. Please indicate how you would like your subscription to be allocated I would like to indicate what proption of my subscription is allocated to each sect, as set out below: Asset-backed businesses Energy businesses % % I give Downing discretion to allocate my investment (allocated on the basis of investment opptunities in each sect) Distributions You can elect f the returns generated to remain in the Service f capital growth, opt to receive distributions. Please choose one of the following options: Capital growth Distributions Quarterly Six-monthly Annually Required distribution level % This figure should be set out as an annual % of the amount subscribed above. F example, 4% on 100,000 subscribed would result in total distributions annually of 4,000, paid based on the above selection. Page 2 of 12

3 Invest bank account details Please provide details of the bank building society account to which you would like any proceeds from the Service credited. Account name: Account number: St code: Bank building society name and address: 4. Beneficiaries You can express your wishes with regard to the allocation of any receipts from the Downside Protection Cover group policy. Downing will hold the proceeds of the policy f your family beneficiaries, as Downing selects, taking into account the wishes expressed below. Declaration I wish Downing to consider paying any lump sum claim under the Downside Protection Cover to the following person(s). If you wish to name me than one person, please state the percentage f each person. If you wish to nominate me than four persons, please enclose a separate letter with this fm. Full names Relation to me Percentage of benefit (%) I confirm that I understand that Downing can take this expression of wishes into account when deciding how to exercise its discretionary powers, but is not legally bound to do so. By signing this application fm, with effect from the date upon which shares are issued in IHT Companies, I hereby irrevocably assign my beneficial interest in the Downside Protection Cover to Downing as trustee pursuant to the terms of the settlement set out in the Appendix of the Terms & Conditions and acknowledge that Downing accepts such role on the basis of those Terms & Conditions. 5. About adviser/intermediary charges I have been advised on this application We can facilitate a payment from your subscription to your Adviser in respect of an agreed adviser charge f advice and related services in respect of this investment. The amount will be deducted from your gross investment and paid to your Adviser. This will reduce the number of shares issued to you by the equivalent value of these adviser charges. I have not been advised on this application (i.e. execution only application via an intermediary) Commission is payable to your intermediary by Downing from the charges it receives. Please indicate the fixed amount of initial adviser charge and/ the fixed amount percentage of ongoing adviser charge agreed. If you request us to facilitate the ongoing adviser charge on a percentage basis, this will be calculated as a percentage of the value of your investment at the relevant time and will fluctuate in line with its value. If you are unsure of what this means, please ask your adviser. If not applicable, please write nil. Initial adviser charge % Ongoing adviser charge % Please note that any adviser charges commission will be paid by the custodian to Downing, who will pay your adviser/intermediary. Page 3 of 12

4 6. Life Cover option Downside Protection Cover is a standard feature of this Service. Life Cover, which covers 40% of your iginal gross investment, is an optional feature available at an additional cost and is subject to the Terms & Conditions. Do you wish to opt f the Life Cover policy? Please note that you will need to meet the conditions set out below to qualify f Life Cover. If yes, please indicate the amount of your investment that you want to benefit from the Life Cover option. F example, if you would like your full investment as entered in section 3 to be covered, please write this amount. If you would like less than the amount entered in section 3 to be covered by the policy, please let us know how much. Maximum of (i) your investment as set out in section 3 and (ii) 250,000 per invest, whichever is lower. I declare that: ffi will be aged over 18 years and under 85 years old as at the investment date; ffi have not been diagnosed with any fm of terminal illness; ffin respect of a life-limiting illness anything that may be diagnosed as a life-limiting illness: (i) I am not currently undergoing awaiting to undergo any medical investigations; (ii) I am not awaiting any fm of hospitalisation awaiting any fm of surgery; and (iii) I live without the need f help with daily activities. ffwithin the last five years, I have not been diagnosed with any fm of cancer, heart disease chronic lung condition. Please tick to confirm that you have understood and comply with the above declaration. Definitions ffinvestment date: each policy will commence on the date of investment, which is the date shares are issued in the IHT-qualifying companies. Shares are issued on a monthly basis. ffterminal illness: an illness that has no known cure progressed to the point where it cannot be cured and in the opinion of a registered UK doct the illness is expected to lead to death within two years. fflife-limiting illness: a medical condition f which there is no known cure and it is expected that death will be a direct consequence of the specified illness. ffdaily activities: you are able to perfm the following activities unaided: dressing, using the toilet, feeding yourself, bathing/showering and the ability to get around independently. ffcancer: any malignant tumours, carcinoma, leukaemia, sarcoma and lymphoma. ffheart disease: heart attack (myocardial infarction, cardiac arrest), angina, cardiomyopathy, heart surgery, heart failure. ffchronic lung condition: requiring the need f regular oxygen treatment and/ bronchodilats and/ hospitalisation. Page 4 of 12

5 7. Appropriateness questionnaire Please note that we cannot accept an application if this infmation is not complete. Investment objectives The investment is designed to be held f the medium to long term, because investments in IHT Companies have to be held f at least two years at death in der to benefit from IHT relief. Please note that shares in unquoted companies are higher risk than shares traded on the main market of the London Stock Exchange. The service is designed to provide invests with access to a ptfolio of investments in unquoted companies that qualify f IHT relief. Please tick this box to confirm that you understand the investment objectives of the service (including the risk facts detailed in the product literature) and that these are consistent with your personal financial objectives. You should only invest money you are able to lose. Please also confirm the following: I am able to invest through the service over the medium to long term. I have a chargeable estate greater than 325,000. Specific questions relating to IHT relief Are you seeking to benefit from relief from inheritance tax (after two years from the date of the underlying investments)? Have you received any taxation advice relating to the service? Have you received any specific investment advice (e.g. from an intermediary)? Do you have any significant capital commitments which cannot be funded from your annual disposable income liquid savings (after taking into account distributions from this service)? If you answered yes to this question, please confirm how this commitment will be funded below. Language Please state your first language, if you are not fluent in English: Source of subscription Please state the source of subscription (e.g. proceeds from a capital gain, savings, earnings): Knowledge and experience Please confirm which of the following types of investments you have previously made and how many years you have been making these investments:. of years Tax products (e.g. VCTs, EISs) Large quoted companies (including authised unit trusts, OEICs, ISAs, PEPs) Smaller quoted companies AIM-listed unquoted companies Page 5 of 12

6 On average, how much do you invest in these types of investments each year? Above 100,000 50, ,000 25,000-50,000 5,000-25,000 Less than 5,000 Please indicate your education histy Professional/ post-graduate qualification Higher education/ degree Secondary education Occupation Occupation/ pri occupation Please also indicate if you have previously held a position in the financial services sect if you are a relevant professional (e.g. accountant, stockbroker, solicit). Financial situation The figures below should include your spouse civil partner, where applicable. Please indicate your annual net disposable income (after all regular financial contributions): Above 100,000 50, ,000 25,000-50,000 10,000-25,000 5,000-10,000 Less than 5,000 Please indicate the value of your assets (excluding your residence), net of any loans other liabilities: Above 1,000, ,000-1,000, , , , ,000 50, ,000 Less than 50,000 Please indicate the value of your residence, net of any loans other liabilities secured on it: Above 1,000, ,000-1,000, , , , ,000 50, ,000 Less than 50,000 Regular source of income Employment status Main sources of income (e.g. earnings, pension) Page 6 of 12

7 8. Invest confirmations I confirm that: ffi am applying on my own behalf; ffi have read the product literature, including the Invest Agreement. I have understood and I agree to be bound as a party to the Terms & Conditions of the Invest Agreement and authise the Manager to enter into Custodian Agreements on my behalf; ffi have read this and (if applicable) I confirm that I have provided full and accurate infmation on my personal and financial circumstances in der that the Manager may assess the appropriateness of the Service and the investments made f my Ptfolio f me. I understand that the Manager may decline to act on my behalf in the event that the infmation provided is incomplete; ffi will notify the Manager if the infmation on my personal and financial circumstances changes in writing immediately; ffi will notify the Manager if I become a US person. A US person includes individuals who are United States of America (US) citizens (including dual citizens) resident, US passpt holders, individuals bn in the US who have not renounced their citizenship and permanent residents of the US and those with a substantive presence in the US as defined in US tax law. ffi have advised the Manager if I am a solicit an accountant other professional person who is subject to professional rules preventing me from making investments in particular IHT Companies (please advise the Manager which firm you wk f); ffi consent to the Manager s dealing and best execution arrangements and acknowledge that on occasions when the Manager passes an der to another party f execution, the counterparty may execute the trade outside a regulated market exchange; ffi agree and acknowledge that where the Manager is required by the FCA Rules to provide infmation to me, such infmation may be provided by means of the Manager s website; and ffi instruct the Manager to pay (if applicable) the adviser charges entered in section 5 to the adviser listed at section 9. ffthe declaration in section 6 (if applicable) is true and accurate, effective as at the date of my signature ( attney s signature) below. ffi am making the settlement regarding my beneficial interest in the Downside Protection Cover and/ Life Cover set out in section 4 and undertake to pay all inheritance tax arising out of such settlement. Invest declaration I confirm by signing below that the infmation provided on this fm is, to the best of my knowledge and belief, accurate and complete. I agree to notify Downing LLP immediately in the event the infmation provided in this fm changes. Signature of invest: Date / / Print name: Attney declaration (if applicable) I confirm by signing below that I have read, understood and agree with the terms and conditions and give the confirmations and consents therein. In particular, I confirm that I have sufficient knowledge of the health of the invest to make the declaration set out in section 6 (if applicable). If appropriate, I have completed the additional Instruction Fm f Lasting Power of Attneys. Signature of attney: Date / / Print name: Page 7 of 12

8 9. About the adviser/intermediary TO BE COMPLETED BY THE ADVISER/INTERMEDIARY Title: First name(s): Surname: Company: Are you part of a netwk service provider? If yes, please give us the netwk/service provider name: Address: Postcode: Contact number: address: Please note that we will send copies of your clients valuation statements to you by to the above address. If instead you would like these by post, please tick this box. Individual FCA number: Firm FCA number: Have you advised the invest? please tick this box if you have advised the invest, provided a personal recommendation as to the suitability of this investment f them and the adviser charge (if any) has been agreed with your client and complies with COBS 6.1A. please tick this box if you have not advised the invest and are permitted to receive commission (e.g. f execution only transactions). Payment of adviser charges commission If adviser charges commission payment is due, please provide details of the bank account to which you would like the payment credited. Account name: Account number: St code: Bank building society name and address: Adviser/intermediary declaration I confirm by signing below that the invest is a customer of our company and that the infmation provided on this fm is, to the best of my knowledge and belief, accurate and complete. Signature of adviser/ intermediary: Date: / / Page 8 of 12

9 10. Identity verification certificate TO BE COMPLETED BY THE ADVISER/INTERMEDIARY Please provide details of the client below Full name: Date of birth: / / Current address: Postcode: Previous address: if individual has changed address in the last three years Postcode: Please give confirmation that: The infmation in the above section was obtained by me/us in relation to the client and the evidence I/we have obtained to verify the identity of the client: Tick one box only Meets the standard evidence set out within the guidance f the UK Financial Sect Exceeds the standard evidence (written details of the further verification evidence taken are attached to this confirmation) Signature of adviser: Date: / / Print name: Position: Company ( sole trader): Please note that Downing reserves the right to request iginal documentation. Page 9 of 12

10 Submitting your application Send this completed iginal application fm to: Downing LLP St Magnus House 3 Lower Thames Street London EC3R 6HD What happens next? We will send you and your adviser by (you can elect within the application fm to receive notifications by post instead) ff ff An acknowledgement within two business days that we have received your application fm. Quarterly valuation statements (once your funds have been invested). When you have completed the fm, tick the following to confirm:. Invests ( their attnies) should complete all sections on pages 1-6 and sign the invest declaration on page 7. Advisers/intermediaries should complete all sections on pages 8 and 9, and sign both the adviser/intermediary declaration and the client s identity verification certificate on page 9. You have answered all the required sections that apply to you. You ( your attney) have signed the declaration in section 8 on page 7. You have enclosed the necessary verification of identity documentation. An iginal identity verification certificate (completed by your adviser/intermediary in section 9 on page 9). Or one each of the following: Verification of identity: a certified copy of your current passpt UK driving licence. Verification of address: an iginal utility bill (not mobile phone), bank account statement council tax statement, dated within the last three months, a certified copy of your driving licence if it hasn t been used f verification of identity. If you are acting under a power of attney you have provided a certified copy of your power of attney and the necessary verification of identity documentation f each attney. If you are paying by cheque you have enclosed your cheque, made payable to Thompson Taraz Downing Client A/C re Downing Estate Planning (the FCA regulated Custodian). If you are paying by bank transfer, please transfer your investment monies to the following account, using your surname and initials as the payment reference (to help us identify your payment): Account Name: Thompson Taraz Client Account Account number: St code: Page 10 of 12

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12 St Magnus House 3 Lower Thames Street London EC3R 6HD contact@downing.co.uk This document has been printed on 100% recycled paper Downing LLP is authised and regulated by the Financial Conduct Authity