PRF Composite Materials announced as material supplier to ThrustWSH

PRF Composite Materials is delighted to be announced as prepreg supplier to ThrustWSH.

Led by Richard Noble OBE and Lorne Campbell, ThrustWSH aims to set a new water speed record, using pioneering research and a truly innovative design to create a safe and fast hydroplane with a target to set an officially ratified two way average speed of 400+mph over a measured mile or kilometre.

PRF will be supplying its innovative prepreg materials for the fully instrumented data collection model test programme part of the project; supporting Supernatural-x in construction of a concept model, which will be used to promote the project directly to educational and composites industry settings, and then the ¼ scale 240mph operational model.

The model programme is essential for building the research and testing to ensure the safety and performance of the full-scale hydroplane. The build of the ¼ scale model will commence once the research reaches a point where the boat design team is happy to proceed with the design or to evolve this further; this is currently projected to be early in 2023 at this point in the project.

Hannah Khusainova, marketing director at PRF, said: “It is an honour to be selected as material supplier and to be particularly noted for our long-standing history of innovation and technical expertise. Over our 40 years, we have led material development in composites, and we are looking forward to being part of a STEM educational project.” www.prfcomposites.com

FOCUS ON finance

with Peter Harding

The advantages of Inheritance Tax planning

As Dorset financial expert Peter Harding explains, there comes a point in life when thoughts turn to what happens after we’re gone, with this likely to include considering how best to pass on any assets we may have.

The importance of planning often begins with Inheritance Tax (IHT) planning. While few estates actually pay IHT, the 40% tax charged on assets above the nil-rate band and the Residence Nil Rate Band makes it a risk not worth taking.

When you’re trying to come up with a plan for passing on wealth, traditionally it’s about trusts, property and so on but people are increasingly using their pension pots. A pension has long been one of the most taxefficient ways to pass on wealth.

For example, if you die before you turn 75 and you haven’t accessed your pension, your beneficiaries can receive all of it tax free, provided they claim it within two years of your death. It’s important to get to grips with the pension rules and ensure you’re using them to your advantage.

You could also consider gifting. This is money you can give away while still alive to reduce the IHT bill, so it should be part of your tax planning. For example, you can give away a total of £3,000 worth of gifts each tax year without them being added to the value of your estate (and you can use the previous year’s allowance, too, if you haven’t already).

Retirement continues to change, with implications for how inheritance planning works. Advice is especially crucial here to balance your own needs and those of your loved ones.

To receive a complimentary guide covering wealth management, retirement planning or inheritance tax planning, contact Peter Harding Wealth Management on 01202 830730 or email peterhardingwm@sjpp.co.uk. Peter Harding Wealth Management is a trading name of Peter Harding Practice Ltd.