United Kingdom
Offshore Bonds | 23 Nov 16
HMRC rules out replacing 5% tax withdrawals on offshore bonds
HM Revenue & Customs has confirmed that it will allow policyholders to correct ‘unfair’ tax bills resulting from ‘mistaken’ withdrawals of life policies, opting to keep the current 5% tax free allowance on offshore bonds.
Tax & Regulation | 23 Nov 16
Chancellor cuts growth forecasts, announces £23bn ‘productivity fund’
In delivering his Autumn Statement this afternoon chancellor of the Exchequer Philip Hammond announced cuts to growth forecasts and a £23bn ($28.7bn, €27bn) fund to tackle a lack of productivity in the British economy.
Alternatives | 22 Nov 16
CoInvestor to UK chancellor: Leave pension freedoms alone
Ahead of Wednesday’s Autumn Statement, alternative assets platform CoInvestor has urged UK chancellor Philip Hammond not to backtrack on pensions freedoms.
Best Practice | 22 Nov 16
Old Mutual Wealth and CII launch adviser academy
Old Mutual Wealth has partnered with the Chartered Insurance Institute (CII) to launch an Investment Academy, designed to help advisers meet new CII criteria.
Tax & Regulation | 22 Nov 16
Guernsey’s MTCL fined, directors banned
Guernsey based fund administration group Marlborough Trust Company Ltd (MTCL) has been fined and its directors banned as part of the ongoing fallout from the Arch Cru investment failure.