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Trump set to scrap planned US advice rules

Proposals that would change the way retirement products are sold in the US could be scrapped under the Trump administration. According to a Financial Times report, advisers to president-elect Donald Trump are considering stopping reforms that would see advisers who give retirement advice putting the client’s interest above their own according to a “fiduciary standard”. […]

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Firms demand clarity over tax treatment of relevant life plans

Providers and advisers have called for greater clarity from HMRC over how relevant life plans with critical illness cover will be taxed. Aviva has stood by its relevant life plans after communication from HMRC has thrown their tax status into doubt. In a letter from HM Revenue & Customs to fellow relevant life provider Vitality […]

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Treasury denies threat to pension tax relief

The Treasury says it has “no plans” to scrap pension tax relief for higher earners despite hints about reform buried in the Autumn Statement. The Financial Times reports in a consultation issued alongside the Autumn Statement it was stated that tax and national insurance contributions relief on pensions was one of the “most expensive” Government […]

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