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Concern over tax consultation deadline

Pension experts warn that a full response to the Inland Revenue&#39s tax simplification process will be difficult because the Pensions Bill is unlikely to be published until mid-February.

With the consultation closing on March 5, respondents are complaining that they will have only days to interpret the effect of the new Department of Work and Pension rules.

Pension professionals say a single DWP project leader should replicate the role of Revenue simplification head Peter Hopkins, who they praise for his interaction with the industry.

PPML managing director John Moret says: “If we do not know the meaning of the fundamentals, it makes comment on the Revenue&#39s proposals very difficult. The Revenue has been very open in this and it seems strange we have not got similar openness from the DWP.”

Syndaxi Financial Planning director Robert Reid says: “You need a project manager to handle the whole review. The DWP has always been the biggest opponent of flexibility after age 75 so you wonder what rules they will put out to get back their pound of flesh.”


Commercial First launches into all status market

Commercial First Mortgages has launched a new commercial mortgage targetting the UK&#39s SME business community. Commercial First says this new product will enable it to compete directly with high street lenders throughout the UK. The interest rate on the product starts at 2.5 per cent above LIBOR. It has a maximum loan size of £2m […]

Convex targets brokers with online conveyancing service

Online conveyancing system Convex is introducing a white-labelling service for IFAs that aims to make the homebuying process more transparent.The Convex service sits between the client and the solicitor. Once a milestone in the buying process is passed, for example, exchange of contracts, it contacts the client by email or text message to let them […]

&#39Lack of investment theme is holding back Isa season&#39

Negative investor perceptions about the Government&#39s commitment to Isas and the lack of unifying investment themes has left the viability of an Isa season in doubt, according to Isis director Jason Hollands.He says the past few years has seen a Isa season dominated by so-called “must-have” products that “whipped investors into action” but although there […]

A difficult policy on Standard Life

The fortunes of Standard Life and those of thousands of IFA clients are tied together.IFAs will have to await the outcome of Standard Life&#39s strategic review before they can decide properly their attitude to the life office as a long-term business partner.But the outcome of the review also has a massive bearing on what IFAs […]


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