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

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

The UK government has delayed the introduction of long-awaited changes to the rules governing non-UK domiciles, which were set to go live earlier this month.

Published : 25, Apr 2017
Five UK tax changes postponed by the snap election

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

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.

Published : 25, Apr 2017
Royal London offers ‘pioneering’ life cover for diabetics

Royal London offers ‘pioneering’ life cover for...

UK insurance giant Royal London has created life cover specifically designed for people with Type 1 and Type 2 diabetes, which the life insurer describes as a first for the British protection market.

Published : 25, Apr 2017
UK ombudsman blasts Sipp transfer into Ukrainian property fund

UK ombudsman blasts Sipp transfer into Ukrainian...Lock icon

A UK investment firm provided a client with “unsuitable advice” after recommending he invest nearly £50,000 (€58,937, $63,995) of his savings in an unregulated Ukrainian property scheme that later ran into trouble.

Published : 25, Apr 2017
Strong pension business helps SJP net inflows rise to £2bn in Q1

Strong pension business helps SJP net inflows...

UK-based wealth manager St James’s Place (SJP) has reported net inflows of £1.99bn in the first quarter of 2017, bringing assets under management (AUM) to nearly £80bn, helped by solid growth in its pensions business.

Published : 25, Apr 2017
 Ongoing UK dividend bonanza spurred by sterling weakness

Ongoing UK dividend bonanza spurred by sterling...

The UK equity market pumped out 9.5% more dividends in the first quarter than the previous year as sterling’s weakness continued to magnify the payouts.

Published : 24, Apr 2017
Five UK Budget proposals at risk from the snap election

Five UK Budget proposals at risk from the snap...Lock icon

British prime minister Theresa May has called a snap election on 8 June, a decision which may have a knock-on effect on some of the new measures announced in the Spring Budget last month. Here’s a list of proposals which could either be rushed through or delayed as the UK prepares to go to the polls.

Published : 24, Apr 2017
Fraudster who ran £8.5m spread betting scam banned for 12 years

Fraudster who ran £8.5m spread betting scam banned...

A British scammer, who ran a failed spread betting scheme, has been banned by a UK court from acting as a company director for 12 years.

Published : 21, Apr 2017
Controversial death tax hike axed ahead of snap election

Controversial death tax hike axed ahead of snap...

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.

Published : 21, Apr 2017
HMRC loses Sipp case over pension liberation charges

HMRC loses Sipp case over pension liberation charges...Lock icon

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.

Published : 20, Apr 2017

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

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