United Kingdom
Tax & Regulation | 25 Jan 17
UK tax ‘error’ penalties up almost 40% in HMRC clampdown
HM Revenue & Customs penalties against taxpayers who have deliberately understated their income are up nearly 40%, according to new figures obtained by international tax advisory firm RSM.
Retirement | 25 Jan 17
UK pension freedoms trigger £9.2bn in outflows
The UK’s radical pension freedom reforms have led to over £9.2bn (€10.7bn, $11.5bn) getting encashed from pension plans since April 2015, HM Revenue & Customs revealed on Wednesday.
Retirement | 24 Jan 17
Pension scammers are getting smarter, FCA warns advisers
The UK’s Financial Conduct Authority (FCA) has warned financial advisers, DFMs and pension scheme operators that scammers are becoming increasingly sophisticated in developing products to defeat due diligence efforts.
Tax & Regulation | 23 Jan 17
73-year-old London broker jailed in £1.2m Ponzi scheme
A former Charles Stanley stockbroker was jailed for six years after pleading guilty to conning investors, including some of his friends, out of £1.2m ($1.5m, €1.4m) in a Ponzi scheme.
Tax & Regulation | 23 Jan 17
Regulatory costs the biggest challenge facing advice firms
Regulatory and compliance costs will be one of the biggest threats to financial advice businesses in the UK over the next three years, the Personal Finance Society’s (PFS) 2016 Member Survey found.