United Kingdom
Brexit to hit three times more British than EU pensioners
There are three times as many Brits over the age of 65 living in other European Union countries than vice versa but they are showing little inclination to rush home ahead of Brexit, figures from the UK’s Office for National Statistics (ONS) suggest.
IFA jailed for forging signatures
A former financial adviser who was found guilty of forging clients’ signatures to invest their cash into a high-risk fund that later went bankrupt has been sentenced to seven years in prison.
Tax avoiders targeted in HMRC recruitment drive
HM Revenue & Customs’ spending on staff to target tax avoiders rose 7% over the past 12 months, increasing headcount at its Counter-Avoidance Directorate (CAD).
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.