United Kingdom
Retirement | 8 Jun 16
Over-55s still unclear about pensions freedoms
Nearly half (43%) of over-55s in the UK do not understand the financial options available to them more than a year after the government introduced the pension freedoms, with 15% admitting to having no understanding at all.
Retirement | 8 Jun 16
Brit buries £850k inheritance, Royal Mint open to pensions
The UK’s Royal Mint has opened its doors for the first time to savers looking to buy gold bars as part of their pension plan, though one brokerage firm has revealed that a British pensioner preferred to bury £850,000 ($1.2m, €1.09m) worth of gold in his back garden.
Best Practice | 7 Jun 16
UK advisers working longer hours, charging £157 per hour
More than a quarter of UK financial advisers are working longer hours, charging an average hourly rate of £157 ($226, €199), according to research from British insurer Prudential.
Tax & Regulation | 6 Jun 16
Strabens Hall claims PI payout ends insolvency threat
International IFA firm Strabens Hall says it no longer faces “inevitable insolvency” due to £1m in claims over ill-fated investments in the collapsed Connaught Income funds after reaching an agreement with its professional indemnity insurer.
HMRC revenue from tax on ‘enveloped’ properties soars by 50%
The UK tax office has raised £174m ($255m, €220m) from a tax on British homes owned by companies, latest data from London and Geneva-based law firm Collyer Bristow suggests.