New insolvency rules came into effect this week which make it easier for companies to go into insolvency. The Enterprise Act's insolvency section now lets company directors put their firms into administration without entering the court system. It also sets more rigid limitations on how much time companies are able to spend in administration. Additionally, the UK tax authority will have to step in line with other creditors as it is no longer automatically first in line for repayment.
Former Future Mortgages communications manager Richard Hurst is setting up on his own to offer PR and communications support.He is aiming his services at the newer or medium-sized players in the mortgage market. He intends to work on a contract basis and promises to raise his clients' profile significantly.Hurst will advise on all aspects of […]
The FSA is running a series of roadshows for general insurance and mortgage intermediaries. The FSA intends the series of half-day regional seminars to explain prudential requirements for the new regulatory framework, how the appointed representatives regime will be extended, and its consultation on the future reporting requirements. The roadshows take place on 1st October […]
I can't help despairing over product providers, networks, and some IFAs as to whether they will ever learn the most important lesson of running a business – look after your clients and they will look after you.IFAs are continually criticised for poor advice but I suspect that this normally only tends to happen when the […]
Regulation is the most urgent issue facing the UK insurance industry as a whole according to an online poll carried out at the Chartered Insurance Institute conference currently being held in London. The poll of its members showed regulation was of most concern at 23 per cent, followed by the compensation culture at 12.3 per […]
Flexible benefits platforms are becoming increasingly popular, with 80% of employers with more than 100 employees offering some form of flexible benefits scheme, compared with just 11% a decade ago. However, global mobility of employees is on the rise, with nearly 57 million expats predicted by 2017, which can add further complexity to your picture.
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Scotland has introduced a new set of income tax bands, but pensions experts warn that the changes could cause issues with pension tax relief calculations. In the Scottish Budget today, the Government announced a new starter rate of 19p and then a 21p rate for those earning over £24,000. The higher rate of tax is […]
The scramble to do as many defined benefit transfers as possible while values remain high is unabated, and I am constantly amazed at how some firms have thrown caution to the wind in the hunt for their share of this – admittedly lucrative – opportunity. The problem is that advisers are putting their profits before […]
The FCA working group tasked with setting a template for fund charge disclosure is considering whether one or multiple templates would be more suitable. The institutional disclosure working group, chaired by transparency champion Chris Sier, has been tasked with creating a new template for fund costs and charges following the package of remedies outlined in […]