Tax experts attack Labour ‘non-dom’ plan
Tax experts have slammed the Labour party’s proposal to scrap the non-domicile regime, claiming the move would be “reckless” and would create unknown economic effects.
Tax experts have slammed the Labour party’s proposal to scrap the non-domicile regime, claiming the move would be “reckless” and would create unknown economic effects.
Major UK pension providers have reported a surge in customer inquiries following the new rules governing access to their savings with most seeking to drawdown some of their cash.
The UK’s non-domicile tax regime could be abolished if the Labour party comes to power in May, but experts claim this would be a “disaster” for the UK economy.
Independent financial advisers in the UK and wealth managers on the continent are likely to be the biggest losers in the current “digital revolution”, according to new research.
The UK Government’s final Budget before the country takes to the polls in the general election in May revealed plans to extend pension reforms to allow existing annuity holders to sell their contracts from 2006.
Advisers now have to provide pension trustees with details of any transfer advice they give to members of defined benefit pension schemes, according to final guidance by the UK’s pension regulator.
Trail commission remains an important driver of income for 93% of advisers despite the charge being completely banned from next April, a survey has found.
UK financial services giant, Sesame Bankhall Group, is to sell part of its advisory network in a bid to return the business to profit, despite a 30% reduction in new complaints in the second half of last year.
Fears that unregulated financial advisers will step up the marketing of unsuitable products following the introduction of UK pension freedoms next week are growing.
UK investment platform Cofunds has reported an 83% increase in pre-tax profits of £7.7m for 2014 due in part to a big growth in retail pension assets using its service.
The UK Financial Conduct Authority has outlined plans to increase the adviser regulatory levy by 10% to reach nearly £75m.
Annuity providers in the UK will be required to rank their product against their competitors in order to help consumers find out if they can get a better deal by shopping around.