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Clarification on UK presence for offshore firms

The Finance Bill, published last week, has clarified the Budget announcement that offshore life offices will have to have a financial presence in the UK. The Bill indicates that any office which does not offer a representative will be forced to join an agency set up by the Government. The move is part of a tax loophole crackdown which has been blasted by the Association of International Life Offices.

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Standard banks on summer loan attack

Standard Life Bank is to launch a major assault on the mortgage market in August, offering IFAs commission and undercutting rivals&#39 interest rates by up to 1 per cent. The fledgling banking arm, set up at the start of this year, believes it can win a major slice of the market by offering mortgages with […]

Sun Life profits soar by 115%

Sun Life boosted profits last year by 115 per cent to £289.9m from £134.87m in 1996. The figures include profits from Axa Equity & Law following the two companies&#39 £690m merger last July. Sun Life expects cost savings following the merger to increase to about £40m a year from the original estimate of £25m.

Tax year-end planning for annual allowance

Last tax year-end there was a lot to think about in relation to planning. The introduction of the tapered annual allowance and the implications of moving to a fixed pension input period, the reduction in the lifetime allowance and potentially applying for protection, and the concern about changes to tax relief, to name a few. […]

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