Pension withdrawals jumped in Q3
But only half of retirees aware of the money purchase annual allowance
MPAA
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Over 80% of UK advisers call for annual allowance reform
40% want ‘deeply unjust’ MPAA scrapped altogether to ease the covid burden savers are facing
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Rash decisions risk hurting unadvised retirees during pandemic
DIY savers ‘more inclined to have a knee jerk reaction’ to volatile markets
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Covid-19 pushes over 10% of UK retirees to access pension pots
As more than one million people have been furloughed
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Warning over ‘absurd tax’ triggered by UK pension withdrawals
People accessing their pots to cope with effects of covid-19 should seek financial advice
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UK government urged to review pension allowances
HMRC told to work with schools to improve public’s understanding of tax and finance
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Pension checklist for changing job
It can be easy to forget about pension benefits when you are swept up in the excitement and stress of changing job. But as workplace pensions can be very generous, it pays to keep on top of any pots that have been built up, says Fidelity International’s Ed Monk.
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No cold calling ban but Finance Bill rolls out key reforms
The latest UK Finance Bill has not included a ban on pensions cold calling but has reduced the non-domicile threshold and implemented cuts to the money purchase annual and tax-free dividend allowances.
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UK Queen’s Speech fails to address Finance Bill ‘limbo’
Key tax policies dropped from the Finance Bill in the run up to the general election will now be reviewed over the summer, the UK has announced, as the Queen’s Speech gave little clarity on the government’s tax plans for the coming year.
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Advisers voice top concerns ahead of UK election day
The Conservative Party’s plans to introduce a so-called ‘dementia tax’ as well as uncertainty surrounding the Finance Bill are the top concerns voiced by UK advisers ahead of the country’s general election on 8 June.
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Five UK tax changes postponed by the snap election
UK chancellor Philip Hammond has put on hold some significant changes relating to IHT, deemed domicile rules, and life insurance policies due to the snap election in June, that will impact the international advice market.
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Six changes you need to know from the Spring Budget 2017
Chancellor Philip Hammond took to the despatch box for the Spring Budget on Wednesday, delivering a hammer blow to qualifying recognised overseas pensions schemes (Qrops).