Should you be sat with any prospective equity release client, you may find it useful to gauge how much equity can be released from a clients property. This would be for guidance purposes only but can be handy to know.

We have incorporated the various types of equity release schemes in the table. Ranging from lifetime mortgages to traditional home reversion plans, we have collated the maximum percentages for every scheme.

Therefore, with such valuable information to hand and knowing the age of the youngest client & estimated property value, you can approximate the maximum equity release tax-free lump sum they could take. Personal loans aren’t considered income and therefore usually aren’t taxed and with an Accountants for Self Assessment it is easier to make the moves for your taxes. They can still impact your tax filings, though, depending on how you use the funds and whether any portion of your loan is forgiven. Is a personal loan tax deductible? A personal loan is a liability, meaning it’s something you owe as opposed to taxable income that you earn. Therefore, personal loans are not tax-deductible, nor is any interest paid on them. A personal loan functions like any other debt that needs to be paid back, says Clark Kendall, a certified financial planner and CEO of Maryland-based Kendall Capital Management. It’s “no different than a car loan,” he says. “It can be used to buy a car or go on vacation, but the actual loan is not a taxable event.” Can a personal loan become taxable? Depending on how you use the personal loan, it may become a taxable event. Using a personal loan for business expenses is an example. Any interest paid on the loan could be tax-deductible for the business. Kendall advises that the money must be used solely for business costs, and that it’s best to consult a tax advisor to understand the implications.