View more on these topics

Budget 12: Govt moves to close “aggressive” pension tax loophole

The Government will move to close an “aggressive” tax loophole which allows employers gain tax advantages by paying pension contributions into a registered pension scheme for an employee’s spouse or family member.

The schemes have been promoted by some firms as a way of sheltering income from tax and national insurance charges.

The Budget document says: “The Government will legislate to ensure that arrangements where an employer pays a pension contribution into a registered pension scheme for an employee’s spouse or family member as part of their employee’s flexible remuneration package cannot be used to obtain tax and NIC advantages for the employee or the employer.”

Standard Life head of pensions policy John Lawson says: “We always saw this as aggressive tax planning which is why we never promoted it.

“We support the Government’s decision to close this loophole.”


Saxo Bank launches execution-only platform

Online trading and investment firm Saxo Bank has launched an execution-only platform for retail investors. Modern Wealth Management has launched today and integrates Morningstar tools and data for funds and ETFs along with a new tool called Ideator, which allows clients to determine their general risk profile and select model portfolios. The portfolios can include […]

Budget 12: Quicker rise in personal allowance confirmed

The tax-free personal allowance will rise to £9,205 next April. The Coalition Agreement commits the Government to raise the allowance to £10,000 by the end of the Parliament, in 2015. The Chancellor confirmed in this afternoon’s Budget it will rise to £8,105 in April as previously expected, then rise to £9,205 in April 2013. It […]

OFT gives go-ahead to Mortgage Brain and MortgageStream merger

The Office of Fair Trading has given the go-ahead for Mortgage Brain to acquire MortgageStream. The OFT announced in January that it was stepping in to investigate the proposed acquisition over fears it could substantially lessen competition in the market. But a spokesman for the OFT says: “The OFT has decided, on the information currently […]


FSA sets out final guidance on structured products

The FSA has set out details of how structured products should be stress-tested. Today’s final guidance from the FSA follows draft guidance in November triggered by a market review which found weaknesses in the way firms are designing and approving the products. The guidance applies to the design of structured products and the after-sales process. […]

Harris Associates' view on the UK’s vote to leave the EU

By David Herro, Partner, Deputy Chairman, Portfolio Manager and Chief Investment Officer of International Equity at Harris Associates Britain’s vote to exit the European Union has led to significant uncertainty across global markets. We believe market impact of this uncertainty, though severe, is more of a shorter-term phenomenon which will provide an opportunity for long-term […]


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