United Kingdom
Retirement | 7 Dec 16
Regulating Rops will ‘level playing field’, say providers
The UK’s plans to change the way overseas pension schemes are taxed and regulated have been welcomed by some providers, who say the changes will level the playing field between Rops and UK pensions and increase consumer protection.
Tax & Regulation | 7 Dec 16
HMRC tightens noose on advisers who enable tax avoidance
HMRC is to go ahead and issue hefty fines to financial advisers found guilty of helping their clients avoid tax, as it sets out clear guidelines on who exactly will be affected by the move.
Tax & Regulation | 7 Dec 16
UK’s plan to review portfolio bond ‘anomaly’ welcomed
HM Revenue & Customs’ plans to review personal portfolio bonds (PPB) and potentially correct cases where British expats are left with ‘inequitable’ tax charges when they return to the UK, have been welcomed by industry.
Retirement | 6 Dec 16
Transfers into overseas pensions fall by a third, says HMRC
The number of British citizens transferring their UK pensions into recognised overseas pension schemes (Rops) has dropped by more than a third since the pension freedoms were introduced in April 2015, according to HM Revenue & Customs (HMRC).
Best Practice | 5 Dec 16
UK gov’t moves to tackle rising threat of pension scams
Nearly two years after the UK pension freedoms were introduced, the British government believes the current massive scale of scamming activity surrounding the industry warrants new laws to limit the rights of savers to transfer money out of existing schemes for their own protection.