FCA launches cinema ad to highlight dangers of ‘hype-driven’ investments
It will be shown before film about GameStop scandal
Tax & Regulation
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What advisers need to know about the statutory residence test
A recent HMRC case has shown the UK taxman will ‘instigate intensive enquiries where exceptional circumstances are claimed’
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How UK expat clients can tackle rising IHT bills
Fines on families who broke inheritance tax rules jumped by a third to £2.28m last year
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UK regulator bans duo for British Steel Pension Scheme advice failings
Advisers will pay £155,000 in compensation
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FCA to introduce screening checks for financial adverts
Rules come into force in February 2024
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One-in-10 advisers planning to quit due to Consumer Duty
More than a third say regulations are harming their mental health
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European WMs stumped by Mifid directives in sustainability assessments
It is ‘concerning just how many wealth managers still aren’t up to speed’
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UK tax tribunal delivers outcome on domicile case
Appeal results in reduction in taxes of around £100,000
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FCA to review treatment of politically exposed persons
Regulator will ‘take prompt action if any significant deficiencies are identified in the arrangements of any firm assessed’
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Duo face bans and £1.3m fine over pension transfer advice
They have referred the FCA decision notices to the Upper Tribunal
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Demand for tax-effective investment advice set to surge
But 39% of advisers do not routinely explain the benefits of tax efficiency on investments
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IHT penalties increase by 34% in a year
HMRC ‘don’t hold back where they suspect inheritance tax has been underpaid’