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A-Day detail delays hit IFAs’ preparations

The Government is keeping IFAs waiting for vital information designed to help them prepare for A-Day because of “publishing difficulties”.

Revenue & Customs has failed to publish its Registered Pension Schemes Manual, the document that will contain detailed tax and technical information on pensions for firms and consumers, by its end of July deadline.

Revenue & Customs says the delay was caused by difficulties in its publishing process and preparation of new reg- ulations but would not reveal any further details. Only two chapters of the manual have been published so far, on registration and pension age, with the remaining chapters now penned in for September.

Scottish Life head of communications Alasdair Buchanan says IFAs have lost almost two months off the tight time-table that has been set for advising all relevant clients before the new rules.

Buchanan says: “It is difficult enough for IFAs to deal with these changes and the Revenue & Customs is not making it any easier. Unless IFAs continually look at the Revenue & Customs website, they will miss vital information.”

Pensions Transfer Solutions managing director Carl Melvin says: “What about treating IFAs fairly? We only have six mon-ths left so this is not helpful.”

A Revenue & Customs spokeswoman says: “All the key guidelines will be out in the autumn.”A new face dons the Scottish Widows cloak as Amanda Lamb hands over the famous garb after 11 years. Surrey model Hayley Hunt, 21, will become the new face of Widows, appearing in advertising campaigns from January 2006. The company says this is the beginning of a major brand overhaul to be revealed later in the year.

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