View more on these topics

Industry slams proposal to scrap IHT

Conservative proposals to scrap inheritance tax on primary residences have been branded an unrealistic vote-grabbing exercise that would drive up tax elsewhere.

Aegon technical manager Margaret Jago says IHT raises £3.7bn a year which the Government would have to replace by increasing other taxes or cutting back on expenditure.

She says the proposal plays to hatred of the tax in Middle England and that raising the IHT threshold in line with house price inflation would be a better alternative.

Skandia head of tax and financial planning Colin Jelley says: “How would any Government afford to abolish it? Given the current rate of spending, they would have to tax it from somewhere else. IHT does affect a huge number of people but there are ways to mitigate it. This is a huge opportunity for financial advisers.”

Worldwide Financial Planning IFA Nick McBreen says: “This is absolute nonsense. How would anyone in their right mind think that a system generating £3.7bn of tax and rising could be scrapped? This is a vote-gathering exercise if ever I have seen one. They have not got a clue what they are talking about.”


Survey reveals public’s views of CAR plan

Four out of 10 consumers say they would be more likely to use a financial adviser if their business was based on the customer-agreed remuneration model, according to Skandia.The company says this shows why proposals for CAR should be embraced by the industry, although it says the FSA should be wary of unnecessarily increasing regulation […]

Fundsnetwork warning over HMRC methodology on DGTs

Fidelity FundsNetwork is urging IFAs to ensure their trust providers are adopting the new Her Majesty’s Revenue & Customs methodology for discounted gift trust rates. The new rates are effective from September 1, reducing the discount on DGTs.The changes from HMRC will mean an increase in the valuation rate of interest to be used in […]

Guarantees in the retirement income market

Lorna Blyth, Royal London  Do guarantees benefit customers and, if so, when? To answer this conundrum we commissioned Millimans, a global actuarial consulting firm, to conduct an independent review of the UK retirement income market and whether guarantees really do offer customers better value for money. The brief The study was one of the most comprehensive undertaken […]


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 thought leadership.

    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