Widows back in IFA annuity and protection
Scottish Widows is to re-enter the IFA annuity and protection markets after a review of its intermediary strategy.
Guernsey finance industry resists HMRC Qrops reforms
Guernsey Finance has backed the island’s plans to resist HMRC rules.
Changes planned for Guernsey Qrops
Guernsey is preparing to overhaul its pension rules from April this year.
True Potential adds RoyLon 360 bond to platform
True Potential has added Royal London 360’s offshore bond to its Wealth Platform.
UK to rework Swiss tax deal as it falls foul of EU
The UK Government will have to rework a tax deal struck with Switzerland because it falls foul of EU law.
HMRC unit to track down tax dodgers
HM Revenue & Customs has set up a specialist unit targeting people using offshore accounts to dodge UK taxes.
FSA fines DFM £15k for client money breaches
McInroy & Wood failed to obtain trust letters for offshore client accounts with an average balance of £666,000.
New rules will 'cut throat' of New Zealand Qrops
New Zealand Qrops provider Super Trustee Fund has written to the New Zealand government calling for it to scrap proposals which it claims could end the country’s Qrops market.
European adviser federation link-up for property disputes
The Federation of European Independent Financial Advisers has entered a partnership with overseas property legal services firm Judicare Group, making its services available free to Feifa members.
MetLife's bond duo aims to test Jersey prospects
MetLife will look to expand its range of Jersey-based pension products if its initial launch of two guaranteed bonds is successful.
Isle of Man pushes financial sector
The Isle of Man Government is scrapping its civil service organisation Isle of Man Finance and launching the Isle of Man Finance Partnership with industry representatives to promote the sector.
Overseas funds soar as onshore slumps
Net retail sales of overseasdomiciled funds increased by 49 per cent to £254.9m in July, up from £171m in June.
MetLife plans move into Jersey
MetLife has appointed Paul Frankland as sales development manager as part of its plans to expand its product range into Jersey.
Ex-Clerical chief for Friends global arm
Friends Life has appointed former Clerical Medical chief executive John Van Der Wielen as managing director of its international arm.
Van Der Wielen appointed MD of Friends Life International
Former Clerical Medical chief executive John Van Der Wielen hired as managing director.
IoM regulator decides against grandfathering
Isle of Man’s Financial Services Commission says grandfathering would be ’inappropriate’.
Friends Life international MD to leave
Roco Sepe has been with Friends for 20 years.
First offshore bond for True Potential platform
True Potential has added an offshore bond to its wealth platform and is planning a number of other additions.
Regulator appoints trustee to seize control of pension reciprocation accounts
Independent trustee firm has seized control of the bank accounts of six pension schemes due to concerns that the loans could be legally void.
Govt proposes new statutory residency test
Treasury to introduce new £50k annual charge and residency test aimed at removing uncertainty.
Qrops code warns against execution-only advice
Offshore adviser Montfort International has published a draft code of conduct for Qrops advice which warns advisers not to write Qrops business on an execution-only basis.
Exposed 500,000 face big offshore tax penalties
HM Revenue & Customs says it has uncovered 500,000 people with money in offshore tax havens who could face severe financial penalties if they have used them to evade tax.
Equity Trust loses court battle over Qrops status
Investors in Panthera ROSIIP scheme face 50 per cent charge, but firm says it will appeal.
Alert over pension loan schemes
IFAs and pension experts have warned investors to be wary of “complex” schemes which exploit a loophole in regulations to allow people with a pension pot of £20,000 or more to borrow up to 50 per cent of the value before age 55.
Revamped Prudence bond offers greater flexibility
Prudential has relaunched its International Prudence bond with new fund and spot guarantee options.
RoyLon 360° offers single-premium bond
Royal London 360° has launched a single-premium offshore bond with a minimum premium of £20,000.
New York court names duo in fraud summons
Two offshore financial advisers have been named in a New York Supreme Court summons accused of a multi-million-pound fraud.
Investors warned over deal to take loan from pension
Pension experts have warned investors to be wary of using “complex” pension reciprocation plans to access loans of up to 50 per cent of the value of their pension fund before age 55.
New Zealand developing Qrops code of practice
Weeks after Guernsey release code, NZ begins work on its own.
Steven Levin appointed as Skandia International CEO
Levin to take over from Andre Oszmann as CEO from June.
New Zealand specialist pulls out of the market
New Zealand-based Qrops firm Southern Star Retirement Fund has withdrawn from the market.
Treasury shuts Hong Kong Qrops loophole
The Treasury has closed a Qrops loophole that allowed individuals to use schemes registered in Hong Kong to avoid paying tax while remaining in the UK.
Guernsey launches Qrops code of practice
Code calls on people to take advice before transferring.
Ireland confirms €24bn bank funding hole
Ireland’s four main banks have a €24bn gap between their current and ideal capital positions.
Three Luxembourg businesses searched in SFO Kaupthing investigation
The Luxembourg police have searched three business premises and two residential premises on the back of the Serious Fraud Office Kaupthing investigation.
Non-doms face extra £50k tax
Non-domiciled individuals will face a further £50,000 flat-rate tax once they have been in the UK for 12 years.
Close Bros sell offshore business
Close Brothers sells offshore business to Kleinwort Channel Islands Holdings for £29.1m.
IoM and Jersey repeal anti-avoidance measures
Two Channel Islands move to quell EU concern over tax system.
Aegon wealth portfolio offers guide to bond tax
Aegon has launched a new opt-ion on its offshore investment bond, the wealth management portfolio, which allows UK customers moving to Spain, France or Italy to benefit from tax deferral and ensure that their bond is tax-compliant.
Axa sets up legacy deal
Axa’s offshore wealth arm, Axa Wealth International, has bolstered its trust range offering with the launch of a legacy planning bond.
