UK financial watchdog cancels regulatory permissions of digital bank
After the FCA found the firm ‘appeared to have provided investment products or services’ without authorisation to do so
Tax & Regulation
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17% rise in number of families paying IHT
Average inheritance tax bill fell 1% to £214,000 in 2020/21 financial year
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Aussie regulator starts civil penalty proceedings against Vanguard
Accusing the asset manager of ‘misleading conduct’ in relation to claims about ESG
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Inheritance tax receipts reached £2bn between April and June
A £200m increase from last year
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Brits may pay income tax when inheriting untouched pension pots
As the government considers new rules to replace the pensions lifetime allowance
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Pension tax overpayments hit £56m in Q2 2023
This is up almost £8m compared to the first quarter of the year
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Five potential impacts of Consumer Duty
NextWealth predicts what will happen after the FCA’s regulation is implemented
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Eight tax mistakes made by Brits retiring abroad
Blevins Franks discusses taxation issues around residency, pensions and inheritance
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£60m fall in FSCS compensation costs for LDII class
Lifeboat scheme said this was due to reduction in redress over Sipp products
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Man charged with fraud over £1.3m unauthorised investment scheme
He will appear at Southwark Crown Court on 15 August 2023 for a plea and trial preparation hearing
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UK-based adviser loses regulatory permissions
After he failed to file returns to the FCA
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Over 5,000 families reclaimed overpaid inheritance tax last year
With 1,000 families already reclaiming in 2023/24