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.
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 […]
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 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 […]
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.
By Mark Martin, Head of UK Equities, Neptune Investment Management The start of 2016 has been one of the most tumultuous periods in recent years for UK markets, with the FTSE 100 Index briefly entering bear market territory in the middle of January. Fuelled by a collapse in the oil price and escalating concerns over […]
News and expert analysis straight to your inboxSign up
Latest from Money Marketing
The curious goings-on in the world of financial services
Experts have played down any immediate moves from the FCA towards those firms that are not prepared for Mifid II regulation that comes into force on 3 January 2018. However, concerns remain that a “material number” of small asset managers have not yet started preparing for the major European regulation. The FCA expects firms to […]
OMGI chief executive and star fund manager Richard Buxton is set to lead a management buyout of the single-strategy funds division of Old Mutual Wealth with the backing of TA Associates. The £550m deal is set to be announced before Christmas, Sky News reports. The buyout is part of Old Mutual’s managed separation, which is […]