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BBA calls for halt to non-dom tax changes

The British Bankers’ Association is calling on the Government to defer tax changes for non-domiciles until a full impact assessment can be carried out.

In the BBA’s response to the Government’s consultation on non-domiciled workers, chief executive Angela Knight says it is vital for the success of UK financial services that the UK remains open for business.

She says the industry is concerned that hitting workers with extra taxes would reduce the UK’s ability to attract and retain top calibre people and investment in our economy.

Knight says: “The non-doms already pay income tax to the Exchequer on their UK earnings, same as the rest of us. If they additionally have to pay a considerable annual levy on top, they will see this as a clear message that their presence is no longer valued by the UK, especially when considered alongside other measures the Treasury is proposing.

“The international view of the UK is that it is becoming by degrees less welcoming to business. If we put at risk our position as the centre of international finance, there will be countless other financial centres shaking out the welcome mats for those talented and industrious individuals who are currently contributing so much to our economic growth.”


Mortgage adviser admits £250k fraud

A self-employed financial adv-iser has changed his plea to guilty over a series of mortgage frauds.Mohammed Khan, 46, from Knighton, Leicester, appeared before Leicester Crown Court on multiple deception and dishonesty charges. The prosecution had estimated the amount involved was over £250,000.Evidence was given that Khan had repeatedly misrepresented his financial and personal status to […]

Paul Cowman quits Just Retirement

Just Retirement head of equity release and protection Paul Cowman has left the firm and is looking for opportunities to get back into the mainstream protection market.Cowman joined the equity release and annuity provider from Prudential last April. He was in charge of developing a range of protection products for consumers in or approaching retirement. […]

Harris calls for ratings to reveal broker strength

Savills Private Finance managing director Mark Harris has proposed the creation of a Fitch-style rating system to measure the financial robustness of mortgage brokers.He says it is important for clients to know their broker is going to be there after completion, especially if the lender gets into trouble.Harris says it is not always easy for […]


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