View more on these topics

Clerical highlights £46bn concurrency opportunities

New concurrency rules mean up to £46bn extra tax relief can now be claimed by occupational scheme members, says Clerical Medical.

It says the new rules introduced on A-Day mean that everyone can invest up to 100 per cent of their taxable earnings in pension plans and claim tax relief up to £215,000.

Clerical estimates that, based on 9.8 million people being members of occupational schemes and national average earnings of £27,940, the total potential tax relief available has rocketed to £60.3bn compared with £14.3bn before A-Day.

It says many advisers fail to fully use the opportunities afforded by the concurrency rules, particularly with the end of the tax year fast approaching. Clerical says advisers should encourage clients to top up their retirement funds in a personal pension.

The firm has produced a guide for intermediaries on concurrency which contains advice on top-up options, a checklist of considerations and an advice process flowchart.

Channel manager Martyn Nethercott says: “I think there is a general awareness of these new rules but they have not been fully exploited.”


More lenders hit in US sub-prime downturn

The troubled US sub-prime mortgage market has suffered more problems after another provider was forced to stop selling loans.Mortgage Lenders Network USA, in Connecticut, has had its licence revoked by the authorities after having stopped funding loans through intermediaries last month.California-based Mandalay Mortgage has left the adverse sector and is no longer accepting applications.The moves […]

Correspondent’s Week

This week by Daily Telegraph personal finance reporter Myra Butterworth.

Law firm Michelmores launches FS practice

Michelmores Solicitors has launched a financial services and markets practice, operating out of the firm’s London and Exeter offices.It will comprise eight lawyers, led by Philip Ryley, the former head of financial services regulation at Bristol-based TLT Solicitors, and is supported by specialist lawyers and London partners – Brian Chadwick, formerly with Ashursts and American […]

ABI offers guide to capital assessment

The ABI has published a guide to the individual capital assessment regime for insurers which aims to give advice and examples of good practice to help firms prepare their ICA.


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