News

News

  • The Government has repaid £36m in overpaid PAYE annuity income tax. As many advisers will know, when you set up regular withdrawals from maturing pension funds, the income payments or withdrawals are not taxed on a cumulative basis.
    Pension News
  • The SMCR is a critical piece of work for one simple reason. It is not EEA inspired.
    FCA news
  • The client had mandated that Northern Foods Pension Scheme transfer his benefits to the Capita Oak scheme following a sales pitch from Capita Oak who promised a significantly higher rate of return on the benefits.
    Pension News
  • The Pensions Regulator together with the Financial Conduct Authority, has published "Guide for Employers and Trustees on providing support with financial matters without needing to be subject to regulation" This gives guidance on how employers can provide limited financial advice to employees without getting authorisation from the FCA.
    Pension News
  • Welcome to the UBER world of the IFA. Soon everyone will be a banker, using API to manage other peoples money! PSD2 will strengthen the pure play fee based adviser further against the provider owned IFA practices that remain hooked on commission and cross subsidy. It could also negate any desire for IFAs to become DFM firms.
    IFA news
  • One key change to PII on which the FCA is consulting further ongoing from CP17-36 is the possibility of preventing PIFs from purchasing policies that exclude the insolvency of the policyholder or related parties, as the FCA believes these exclusions can prevent the FSCS from making a claim on the policy.
    IFA news
  • In December 2016 the FCA published a consultation paper aimed at discussing the FSCS and its fairness to all parties. CP16-42.This week the FCA published a second consultation on FSCS funding. CP17-36 contains various items, but no major changes. Providers could be asked to contribute to FSCS levies on advisers, but not in any major way, at least initially.
    IFA news
  • Pensions and LPA IFA’s have responsibilities under the Mental Capacity Act 2005, as do other professionals such as solicitors. In a nutshell, if you judge that an individual has, shall we say, “mental health issues”, you shouldn’t act. Which is why IFAC insist that any client in drawdown should always be asked in the fact find about a Lasting Power of Attorney.
    IFA news
  • Clients accessing flexi-access income have a legal obligation - or face HMRC fine - to alert other schemes of drawdown
    Pension News
  • Cold Calling ban from The Informatoin Commissioner leads to problems for IFAs purchasing leads
    IFA news

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