INDUSTRY

Five things you need to know about Trump’s tax plan

Five things you need to know about Trump’s tax...

This week, US president Donald Trump unveiled what he called “the biggest tax cuts in history”. Here’s a look at some of the initial proposals to slash inheritance tax, top income brackets and tax for large corporations.

Published : 28, Apr 2017
Pension trustees banned over £16m Fiji tree plantation scam

Pension trustees banned over £16m Fiji tree plantation...

The Pensions Regulator (TPR) in the UK has banned the trustees of a scheme that lost more than £15m ($19.3m, €17.7m) of member’s money after investing in overseas ventures that "bore the hallmarks of a scam", including leases on a plantation in Fiji.

Published : 28, Apr 2017
PEOPLE MOVES: Pictet, Intertrust Jersey, Nucleus

PEOPLE MOVES: Pictet, Intertrust Jersey, Nucleus...

Pictet Asset Management makes two new hires, bolstering its Hong Kong multi-asset team and its UK distribution business while Intertrust Jersey announces a round of promotions. Nucleus appoints a technology stalwart to its board of directors as Sandaire poaches an ex-Tilney man.

Published : 28, Apr 2017
SA unveils new wealth tax to address ‘rampant inequality’

SA unveils new wealth tax to address ‘rampant...

A committee set up to review South Africa's tax system has revealed plans to introduce a new wealth tax as the country struggles to deal with extreme income inequality coupled with a dwindling tax base.

Published : 28, Apr 2017
Five tips to consider when using an overseas pension

Five tips to consider when using an overseas pension...Lock icon

Given the recent dramatic changes to rules governing overseas pension transfers, Martin Hall, the director of Isle of Man-based pension provider Optimus, gives his tips on what to consider when using an international pension scheme.

Published : 28, Apr 2017
Old Mutual exits India with sale of joint venture life stake

Old Mutual exits India with sale of joint venture...

Old Mutual is pulling out of its joint venture life company in India by selling a 26% stake for a net cash sum of £141m ($182m,€167m).

Published : 28, Apr 2017
IoM taxpayers to pay up for collapsed Eco Resources Fund

IoM taxpayers to pay up for collapsed Eco Resources...

Isle of Man taxpayers will have to foot the bill for another collapsed fund, the Eco Resources Fund, which was set up by the troubled Premier Group in 2012.

Published : 27, Apr 2017
Seven IM unveils new model portfolio service

Seven IM unveils new model portfolio service

Wealth manager Seven Investment Management (7IM) has launched a new managed investment service for advisers and added new features to its flagship discretionary managed portfolio.

Published : 27, Apr 2017
Uncertainty reigns as non-dom changes dropped at ‘11th hour’

Uncertainty reigns as non-dom changes dropped...Lock icon

UK taxpayers will now face a period of uncertainty after new non-domicile rules and inheritance tax changes to UK residential properties were dropped from the Finance Bill at the last minute, according to industry experts.

Published : 27, Apr 2017
Invesco boosts global ETF offering with Source deal

Invesco boosts global ETF offering with Source...

US-based investment manager Invesco has announced a deal to buy one of Europe's major Exchange Traded Product (ETP) providers, Source.

Published : 27, Apr 2017
UAE to push ahead with major life industry overhaul

UAE to push ahead with major life industry overhaul...Lock icon

The main regulator of life companies in the UAE has confirmed it will go ahead with a ban on indemnity commissions, limits to fees and charges on industry products and tighter rules on financial advisers.

Published : 27, Apr 2017
Chelsea is latest football club embroiled in HMRC tax probe

Chelsea is latest football club embroiled in HMRC...

Chelsea is the latest Premier League football club to become involved in a £5m (€5.8m, $6.4m) HMRC investigation into tax fraud after Newcastle and West Ham were raided earlier this week.

Published : 27, Apr 2017
Top challenges facing advisers in the UAE

Top challenges facing advisers in the UAELock icon

Advisers working in the Middle East can no longer afford to be a “one-trick pony”, says Phil Story, SEO and head of distribution for EMEA at Investors Trust Assurance, as he urges them to focus on “holistic financial planning” to boost their income stream.

Published : 27, Apr 2017
Qrops ‘fire sale’ averted as reforms survive Finance Bill cull

Qrops ‘fire sale’ averted as reforms survive Finance...Lock icon

Reforms overhauling overseas pension transfers may have survived the UK government’s wide-ranging cull of the Finance Bill in a bid to avoid a “fire sale” of Qrops, according to Rachael Griffin, financial planning expert at Old Mutual Wealth.

Published : 26, Apr 2017
Pension freedom withdrawals break through £10bn barrier

Pension freedom withdrawals break through £10bn...

UK consumers withdrew £10.8bn ($13.8bn, €12.7bn) from their pensions during the first two years of the pension freedoms.

Published : 26, Apr 2017
FCA upholds over two-thirds of UK pension complaints

FCA upholds over two-thirds of UK pension complaints...

Over two-thirds of all complaints made against pension providers were upheld in the second half of 2016, according to the latest data released by the Financial Conduct Authority (FCA).

Published : 26, Apr 2017
Brooks Macdonald approaches £10bn in assets under new CEO

Brooks Macdonald approaches £10bn in assets under...

Brooks Macdonald has grown its funds under management to nearly £10bn ($12.8bn, €11.7bn) in the first three months of 2017, signalling a strong start for new chief executive, Caroline Connellan.

Published : 26, Apr 2017
Newcastle and West Ham raided in HMRC tax fraud probe

Newcastle and West Ham raided in HMRC tax fraud...Lock icon

HM Revenue & Customs has raided football clubs Newcastle and West Ham and locations in France following investigations into tax fraud.

Published : 26, Apr 2017
Buoyant growth in Asia and Europe fuels Jupiter Q1 fund flows

Buoyant growth in Asia and Europe fuels Jupiter...

Global fund management group Jupiter saw net mutual fund flows of £1.4bn (€1.65bn, $1.8bn) in the first quarter of this year, fuelled by “particularly strong” growth in Asia and continental Europe.

Published : 26, Apr 2017
UK election puts £1,500 pension advice allowance on hold

UK election puts £1,500 pension advice allowance...Lock icon

The UK has pushed back the introduction of the pension advice allowance as the government announces further delays to key tax changes ahead of the snap election on 8 June.

Published : 26, Apr 2017

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Five UK tax changes postponed by the snap election
Five UK tax changes postponed...Lock icon

UK chancellor Philip Hammond has put on hold some significant...

UAE to push ahead with major life industry overhaul
UAE to push ahead with...Lock icon

The main regulator of life companies in the UAE has...

Qrops ‘fire sale’ averted as reforms survive Finance Bill cull
Qrops ‘fire sale’ averted...Lock icon

Reforms overhauling overseas pension transfers may...

UK delays non-dom and IHT reforms in shock election move
UK delays non-dom and...Lock icon

The UK government has delayed the introduction of long-awaited...

How the Qrops levy will impact UAE pension planning
How the Qrops levy will...Lock icon

Old Mutual Wealth’s David Denton talks about how the...

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