‘Unfair’ pension freedom tax refunds hit £262m
HM Revenue & Customs has had to repay more than £262m to consumers that were charged emergency tax since the launch of the pension freedoms in 2015.
Regions
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MitonOptimal on advisers using DFMs
Dissecting advice and portfolio management can resolve the cost, performance and regulatory issues IFAs are facing, Scott Campbell, managing director and chief investment officer of MitonOptimal, tells International Adviser.
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Five big factors in the £1.27bn UK wills, probate and trusts market
Fragmented and largely unregulated, the UK wills, probate and trusts market was worth £1.27bn last year, but this is set to grow, according to market research company IRN Research.
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Should investors buy the Catalonia dip?
Dips to buy on have become ever scarcer in the QE-led era. Does the big performance gap between Spanish and other European equities, that has emerged thanks to the political turmoil in Catalonia, present investors with a great opportunity now?
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UK compensation scheme warns of Russian scam
UK consumers have been warned to avoid a Russian website claiming to be a subsidiary of the Financial Services Compensation Scheme (FSCS).
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German regulator demands UK insurers’ Brexit plans
Germany’s financial service regulator, BaFin, is well within its rights to contact UK-based insurers demanding they explain how they plan to handle a no-deal Brexit, says an insurance law expert.
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Reforming Korea is too cheap to ignore
Korea is becoming more appealing to international investors as newly elected government officials in South Korea start to position themselves away from the country’s most powerful families and implement reform to eliminate many prevalent shareholder-unfriendly practices, says Jacob Mitchell, chief investment officer Antipodes Partners and manager of the Antipodes Global Fund – Ucits.
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Hammond’s budget surplus dream in tatters after IFS kick
Philip Hammond needs to admit his promise to eradicate the UK’s budget deficit by the mid-2020s is “no longer sensible”, a report from the Institute of Fiscal Studies (IFS) has said.
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Expats reprieved on Portuguese pension tax
A widely speculated 10% tax on expat pensions transferred to Portugal has been left out of the country’s 2018 budget, but this does not mean the rule change is not coming, experts warn.
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Friends Provident Int’l on Millennial opportunities
Andrew Waddell, managing director at Friends Provident International (Singapore) talks to International Adviser about the ongoing opportunities for advisers to meet the needs of Millennial clients.
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STM chief executive arrested in Gibraltar
The chief executive of cross border financial services provider STM Group, Alan Kentish, was arrested by the Royal Gibraltar Police in relation to a tax issue in 2015 involving an STM client company.
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Guernsey set to cut tax on mansions over £1.5m
Guernsey looks set to make itself more attractive to high net worth expats with the adoption of a tax cut on open market property worth at least £1.5m ($1.98m €1.7m).