United Kingdom
Tax & Regulation | 19 Jan 16
UK government moves to cap early exit pension charges
UK chancellor George Osborne has announced plans to introduce legislation to give the Financial Conduct Authority (FCA) the power to cap excessive early exit charges for those eligible to access their pension pots under the new pension freedoms.
Tax & Regulation | 19 Jan 16
Authorised UK firms hit with £363m FSCS levy
Firms authorised by the UK’s Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) will have to collectively pay £363m ($518m, €475m) to fund the Financial Services Compensation Scheme (FSCS) in 2016/17, an increase of 13.1% from £319m in 2015/16.
Alternatives | 19 Jan 16
Close Brothers AM sees record inflows into IHT service
UK wealth manager Close Brothers Asset Management (CBAM) said its Close Inheritance Tax Service (CITS), which can help investors reduce death duties, had raised a record £45m ($64m, €59m) in 2015.
Church House launches risk-rated model portfolio service
Church House Investment Management, a UK-based discretionary fund manager, has launched a range of six risk-rated managed portfolios.
Tax & Regulation | 18 Jan 16
UK gov’t favours upfront tax relief on pension plans
UK chancellor George Osborne is likely to opt for a flat rate of tax relief on pension savings rather than a more radical move to a so called “pension Isa” when he announces the outcome of the government’s current review.