Controversial death tax hike axed ahead of snap election
Plans to introduce a sharp increase in UK probate fees have been scrapped by the Ministry of Justice as a direct consequence of the surprise snap general election in June.
Plans to introduce a sharp increase in UK probate fees have been scrapped by the Ministry of Justice as a direct consequence of the surprise snap general election in June.
A UK court has ruled that Sipp scheme operator Sippchoice should not pay sanction charges after HM Revenue & Customs (HMRC) accused it of being a pension liberation vehicle.
The UK government could delay introducing a ban on pension cold calling after British prime minister Theresa May called a snap election for 8 June, according to investment platform AJ Bell.
The murky state of UK politics is cementing wealth manager and asset allocator aversion to the domestic equity market with exposures continuing to shrink.
Hong Kong, Dubai and Singapore are some of the most expensive cities in the world when it comes to how much people have to earn to pay rent but they do not top the list, research from UK property selling start-up Nested has found.
Physical gold sales soared on Tuesday after UK prime minister Theresa May called a snap general election, according to The Pure Gold Company.
Taxpayers on the Isle of Man will pay for the winding up of collapsed investment fund New Earth Recycling and Renewable (NERR), part of the New Earth Group of Funds, after the island’s financial regulator stepped in to pick up the tab.
Nine countries were dropped and one added when HM Revenue & Customs updated its list of qualifying recognised overseas pension schemes (Qrops) on Tuesday after it was temporarily suspended following drastic changes to overseas pension transfers.
The UK’s financial regulator plans to put a greater focus on the drawdown phase of the pensions market in the current financial year, and has promised to do more to tackle pension scams.
The Financial Conduct Authority has proposed a 4.7% hike in fees for advisers and brokers as part of its 2017/18 business plan.
Changes in regulation coupled with a transformation in client expectations and increased use of technology means financial advisers need to review their business model to ensure they have a business that is future fit, says Old Mutual Wealth’s Mike Leeson.
The sharp increase in people transferring out of defined benefit (DB) pension schemes poses risks for investors and the industry, says Tom McPhail, head of policy at Hargreaves Lansdown. His warning comes as the UK’s pension transfer industry remains under close regulatory scrutiny.