AJ Bell warns of pensions overtax pitfall
Ad-hoc pension withdrawals could be overtaxed in the new tax year by thousands of pounds, AJ Bell has warned.
Author: Tom Carnegie
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FCA hits advisers with 4.2% fee hike
The Financial Conduct Authority (FCA) is planning to raise adviser fees by 4.2% for the upcoming financial year as it looks to cover EU withdrawal costs.
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FCA will ‘absorb’ Brexit-related costs
The Financial Conduct Authority (FCA) says its next annual budget and business plan will make explicit the costs associated to Brexit that it will have to absorb, news that will likely be welcomed by the financial services industry.
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FCA targets cryptocurrency advisers
The Financial Conduct Authority has set its sights on those offering and advising on cryptocurrency derivatives, saying there will be consequences if they do not comply with current regulation.
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Two in three still confused by pension freedom rules
Despite being three years since HM Revenue & Customs introduced the pension freedoms, two out of three people over the age of 55 say they are still confused by the regulations.
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Whistleblower in HSBC tax evasion case set free after arrest
A whistleblower who leaked more than 100,000 records from HSBC’s Swiss private banking arm, which led to tax evasion probes across the world, was arrested in Spain but released a day later.
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FEIFA adds seven members in three months
The Federation of European Independent Financial Advisers (Feifa) has added seven members to its books in the first three months of 2018, representing membership growth of more than 10%.
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FCA steers away from pre-RDR trail commission ban
The Financial Conduct Authority (FCA) has “no immediate plans” to ban trail commission on legacy investment products, it has announced in a policy statement that looks to shake-up the asset management industry.
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Guernsey sees green for financial services industry
Guernsey has launched a development strategy to champion “green investment”, in a move it hopes will position the island as the go to jurisdiction for green financial services.
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EU tax haven blacklist a ‘real danger’ to the Isle of Man
The Isle of Man’s chief minister, Howard Quayle, says the jurisdiction faces the “very real danger” of being put on the EU tax haven blacklist.
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Kuwait edges closer to controversial expat tax
Kuwaiti politicians are preparing to debate a polarising remittance tax for foreigners working in the country, after it was controversially endorsed by the parliament’s financial and economic affairs committee.
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Five firms pull free pension transfer tool
Prudential, Scottish Widows and LV are the latest providers to stop their free pension transfer value analysis services (Tvas) for advisers, as they respond to regulator concerns that such tools could act as an inducement.