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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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A few years ago I was advised by my then accountant (financial

Resolved Question:

A few years ago I was advised by my then accountant (financial advisor) to move my few small pensions into a trust and then draw the money into my Ltd company, he said that I could do that because it is a ltd company, what he did not tell me is that I would receive a annual bill for nearly a £1k, I am now thinking that I have been given bad advice
Submitted: 3 years ago.
Category: Law
Expert:  Ash replied 3 years ago.

Alex Watts : Hello my name is XXXXX XXXXX I will help you with this. Please note that I am a working Solicitor and may be on and offline as I have to attend Court and meet with clients, even at weekends. As such you may not get an instant response when you reply, but rest assured I will be giving your question my immediate attention upon return You do not need to wait here as you will get an email when I reply.
Alex Watts : Did you ask about cost implications or did he mention anything about ongoing costs please?
Customer:

Nothing at all

Customer:

Correction

Customer:

He said that there would be a one off cost at the start

Alex Watts : Ok. When did he give you this advice?
Customer:

While the pension was being transferred to the trust

Customer:

I also had another small pension that I wanted to do the same to but said NO dont do that it is rubbish

Alex Watts : ok
Alex Watts : What do you want to achieve?
Customer:

Pension back and costs gone

Alex Watts : What is the value of your loss?
Customer:

15K

Customer:

I have to out now but will be back in an hour

Alex Watts : ok. I can't advise on the mechanics of transferring the pension back but I can assist with the legal side.
Alex Watts : You need to write and set out your losses and request a payment and transfer within 14 days or say you will go to Court within 14 days. You should make sure you send this signed delivery and keep a copy.
Alex Watts : If they do not then you can issue proceedings in the County Court. You can either do this online at: www.moneyclaim.gov.uk or by completing form N1 http://hmctsformfinder.justice.gov.uk/courtfinder/forms/n001-eng.pdf and take it to your local County Court.
Alex Watts : The Court will then issue a claim which a copy will be sent to the Defendant who will have a limited time to defend it, if not you can enter Judgment and enforce.
Alex Watts : If the matter is defended it will be set down for a trial. As the claim is for £10,000 plus it will not be a small claim and you will need representation.
Alex Watts : Can I clarify anything for you about this today please?
Customer:

Hi! Back again

Customer:

So I have to get a solicitor??yes

Ash and other Law Specialists are ready to help you