United Kingdom
Best Practice | 8 Sep 17
No safety net for life policy part surrenders
HM Revenue & Customs will be able to review “disproportionate” tax bills slapped on people who withdraw money from their life policies but “it is crucial that this isn’t seen as a safety net”, warns Old Mutual Wealth tax and financial planning expert Rachael Griffin.
No cold calling ban but Finance Bill rolls out key reforms
The latest UK Finance Bill has not included a ban on pensions cold calling but has reduced the non-domicile threshold and implemented cuts to the money purchase annual and tax-free dividend allowances.
Five UK insurers facing FCA review over customer treatment
Old Mutual, Prudential and Abbey Life are among five companies still under investigation by the Financial Conduct Authority over concerns about the transparency of exit and penalty charges in the firms’ closed-book life insurance policies.
Investment | 7 Sep 17
Woodford apologises for ‘incredibly painful’ underperformance
Neil Woodford has spoken out about his fund’s “incredibly painful” recent underperformance and promised to recover the capital lost in a newly released in-depth interview.
Standard Life advice boss changes role, plans acquisitions
Standard Life’s restricted advice arm 1825 has announced a reshuffle of senior management roles.