UK inheritance tax receipts reach record £5.2bn
The UK government hauled in £5.2bn ($7.2bn, €5.9bn) of inheritance tax receipts during the 2017/18 tax year, a figure 8% higher than the previous year.
Author: Tom Carnegie
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Columbia Threadneedle expands European multi-asset range
Columbia Threadneedle Investments is expanding its Luxembourg multi-asset offering with the launch of a fund that is designed to deliver equity-like returns of 4% above European inflation.
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PEOPLE MOVES: Tilney, Aviva, Brewin Dolphin
Tilney appoints a former Schroders chief financial officer to its board of directors, Aviva hires a head of global financial institutions and Brewin Dolphin makes several key changes to its Cardiff team.
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RL360° grows 5% despite ‘difficult market conditions’
Isle of Man-based life insurer RL360° grew its present value of new business premiums (PVNBP) by 5% in 2017, continuing the company’s record of year-on-year growth.
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Faulty Aviva platform sends advisers false 10% drop warning
Aviva has been forced to issue another apology to advisers after they were wrongly sent a notification that the value of their clients’ portfolios had dropped by more than 10%.
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Harwood Wealth Management continues IFA buying spree
Harwood Wealth Management is showing no let up in its IFA firm buying spree after it struck a £1.56m deal to acquire retirement solutions specialist Plan 65.
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Elaborate offshore pension liberation scam lands two in jail
Two fraudsters will both spend years behind bars after conning 16 victims out of their pensions to fund lavish lifestyles that included luxurious overseas holidays and high-end sports cars.
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Advisers giving inadequate information to DB specialists: FCA
Financial advisers who are outsourcing pension transfer work to specialists are providing them with inaccurate information, according to the executive director of the Financial Conduct Authority (FCA).
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S Africa to prosecute as outstanding tax returns hit 30 million
The South Africa Government is criminally prosecuting non-compliant taxpayers, including prominent South Africans, as 30 million tax returns are now outstanding in the country.
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Aviva sorry for platform troubles as adviser pulls clients
Aviva has apologised for its platform, which has been a source of ongoing frustration for advisers since it was updated three months ago.
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AMP misleading Aussie regulator could bring ‘jail time’
Australian treasurer Scott Morrison says revelations financial services giant AMP intentionally and repeatedly misled the regulator over advice fees charged to its own customers could result in “jail time”, a sentiment echoed by the regulator.
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HMRC pulls pension calculator after Royal London pressure
HM Revenue & Customs knew its pension tax calculator was giving incorrect data to users, but only pulled it once Royal London’s director of policy publicly slammed the tool.