United Kingdom
Lloyds financial planning business set for £50bn expansion
In a major push to expand into the financial planning and retirement industry, Lloyds Banking Group is looking to increase its open book assets in the sector by more than £50bn ($69.9bn, €56.5bn) by 2020, according to the company’s 2018 strategic plan.
Incoming FCA chair admits using tax avoidance scheme
The next chair of the UK’s Financial Conduct Authority said he made an “error in judgement” when he used a tax avoidance film scheme promoted by Ingenious, a firm that has lost several court battles against HM Revenue & Customs.
Isle of Man to introduce pension freedoms
Legislation that will introduce pension freedoms to the Isle of Man has been included in the island’s 2018 Budget, a move treasury minister Alfred Cannan said will allow people to “look after their own savings”.
Best Practice | 20 Feb 18
Three adviser wish lists for future IHT overhaul in UK
Inheritance tax rules are yet again set to change in a bid by the UK chancellor Philip Hammond to simplify the process.
Best Practice | 20 Feb 18
UK pensions watchdog and police team up in cold-calling case
The Pensions Regulator (TPR) and the police are jointly investigating a number of pension schemes suspected of being linked to cold calling, resulting in a trustee being appointed to a wealth management firm.