Petition to scrap 25% Qrops charge launched
A petition has been set up to get the UK Government to scrap the “unfair” and “discriminatory” 25% charge on qualifying recognised overseas pension scheme (Qrops) transfers.
Best Practice
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End of tax year: Making the most of allowances
Advisers should act now to make sure their clients make the best use of allowances as the countdown starts for the end of the UK tax year. Click through the slides to see the Prudential technical team’s list of actions advisers should consider.
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Mifid II will kill fund price herding: Nucleus CEO
Mifid II will kill the mistaken notion that all funds cost the same, Nucleus chief executive David Ferguson says.
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Advisers brace themselves to explain Mifid II transaction charges
Advisers and consultants have voiced concerns about the consistency and accuracy of information amid fears that the broader investment industry will take another reputational hit.
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Adviser admits misleading clients, fails in compensation bid
An adviser has failed to secure compensation for his clients after claiming that Zurich Assurance applied “unfair renewal terms” on their whole-of-life assurance plan, despite admitting that he misled them about the nature of their policy.
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UK Govt backs down on pension freedoms ‘auto guidance’ plans
The UK Government has removed an amendment to the Financial Guidance and Claims Bill, that would have required people taking benefits under the pension freedoms or transferring benefits to be automatically enrolled into guidance.
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Options for non-resident landlords in ‘buy-to-let war’
Expat buy-to-let landlords holding UK property will be hit with a non-resident property owners tax from April 2019. But, is there anything they can do?
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Serial complainer loses AJ Bell ombudsman case
The Pensions Ombudsman has not upheld a complaint from a client and ex financial adviser accusing AJ Bell of poor service, negligence, maladministration and misconduct, which saw the investment firm take the “unprecedented decision” to end its relationship with him.
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Chinese CFA candidate numbers surge
The number of Chinese candidates taking the Chartered Financial Analyst (CFA) Level I exam jumped by 38% in December to nearly 20,000, outstripping the US and India combined, the CFA Institute said.
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UK wealthy struggle to understand inheritance tax
More than two thirds of UK consumers with assets of more than £325,000 ($454,305, €370,339) do not know their estate may be liable for an inheritance tax (IHT) bill, according to research by Canada Life.
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Advisers must be aware of the complexities US clients face
American citizens living outside the US often have their financial lives made more complex by local advisers who do not appreciate their need for joined up advice to avoid negative tax treatment by US or local authorities.
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Pension freedoms withdrawals hit fresh low
Withdrawals under the pension freedoms have hit an all time low, reducing the need for emergency regulation or government intervention, an industry expert says.