View more on these topics

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.


RBS seals 0.9bn stake in Bank of China

Royal Bank of Scotland and Bank of China have established an exclusive strategic partnership after 18 months of negotiations. RBS will nominate a director to sit on the BoC’s board and will lead an investment of 10 per cent in BoC for 1.7bn. Of this, RBS itself will invest 0.9bn, with no plans to increase […]

F&C Stewardship funds break through 2bn barrier

The F&C Stewardship funds, the group’s range of ethical portfolios, have passed through the 2bn mark.
The funds, the first of which was launched 21 years ago by Friends Provident, are the UK’s oldest and largest ethical investment suite of products.

Yorkshire offers new offset tracker for life

Yorkshire Building Society is launching a new offset account that will track the Bank of England base rate for the full term of the mortgage.It offers borrowers a tracker rate 0.45 per cent above the Bank of England base rate, currently 4.95 per cent.Homeowners are also offered unlimited overpayments and no early repayment charges.Yorkshire Building […]

Product Innovations boosts dollar returns

Structured product provider Product Innovations has teamed up with Abbey International to established the Opus Diversifier Dollar Capital Bond, a guaranteed equity bond aimed at high-net-worth investors.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm