Industry
Old Mutual Int’l focuses on ‘select group’ of Swiss-based IFAs
Old Mutual International has confirmed that it has altered its distribution strategy in Switzerland to focus on a more “select group of expat IFAs”, contradicting industry reports that it was pulling out of the market altogether.
Middle East | 16 Mar 17
UAE minister sets prospective VAT for Gulf at no more than 5%
VAT no higher than 5% will come into force from 1 January 2018 in the UAE and other Gulf States covering most products and services.
Tax & Regulation | 15 Mar 17
UK supreme court rules against inheritance challenge
An estranged daughter has lost a supreme court bid to overturn her mother’s will, which excluded her only child and left her £0.5m ($0.6m, €0.57m) estate to three animal charities, in a decision that leaves things “slightly confused”, says Old Mutual Wealth’s Rachael Griffin.
Best Practice | 15 Mar 17
Four key IHT planning tips for residential nil rate tax band
Some changes in inheritance tax law can affect wills and trusts, including the introduction of the first tranche of the Residential Nil Rate Band (RNRB) of £100,000 on 6 April 2017, says Karen Clark, tax partner in charge of the London private client team at RSM.
UAE and Saudi Arabia life industry face consolidation says S&P
Regulatory pressures and fierce competition will lead to significant consolidation of the life industry in the UAE and Saudi Arabia over the next two years, according to a report by S&P Global Ratings.