Norwich Union has launched a revised version of its long-term care plan after negotiating a tax saving with the Inland Revenue. The deal, originally revealed by MM in February, means that income from the "immediate care plan" annuity is paid direct to the care home instead of the policy holder with a resulting tax saving of between 10 and 15 per cent. The change rectifies an anomaly in long-term care which saw prefunded products tax free but annuities subject to it.
FSA chairman Howard Davies has welcomed the creation of the Association of Independent Financial Advisers.Speaking at Aifa's inaugural conference in London last week, Davies said: “We look forward to close interaction with the new Association and its leaders. We welcome the prospect of receiving a more co-ordinated, and perhaps better researched set of responses from […]
Century Mortgages is calling on the Government to scrap the mortgage code and impose statutory regulation.In an open letter to the Treasury, it asks the Government to impose daily calculations of interest on lenders, a move it claims will save consumers £350m.
Derbyshire Building Society has launched a new card-based Cash Account.The account can be accessed through the Link network of ATMs.The account gives instant access has a minimum opening amount of £10 with a 1 per cent gross interest rate.
The Inland Revenue is cracking down on loanbacks by bringing in tough new guidelines which must be met before life offices can lend to firms.Loanbacks allow clients to take out loans using their pension policy as security.The Revenue says it will start policing loanbacks by forcing life offices to prove a loan is judicious from […]
In this short video, Head of Multi Asset at Royal London Asset Management Trevor Greetham looks at how to configure portfolios to match different risk appetites, explaining the tools he uses to manage risk. Click here
News and expert analysis straight to your inboxSign up
Latest from Money Marketing
The New Model Business Academy received just over half the Government funding for its apprenticeship programme it was hoping for, which has led to paraplanner and administrator apprenticeships being shelved. NMBA, which is part of the SimplyBiz Group, announced earlier today it is opening applications for its apprenticeship programme this week. In December, it received […]
Platform Alliance Trust Savings must compensate a client after he was unable to make several investments because the online service was down. The client, Mr W, had around £2m in his Sipp fund with ATS. In late June 2016, his advisers tried to make a number of investments into specific funds, however, these did not […]
Last year, Money Marketing took a deep dive into how advisers are remunerated with an extensive reader survey. This year, we’re going even bigger and better, teaming up with recruitment consultancy BWD to bring you the definitive picture on pay. With your help, we hope to decode how qualifications, employment status, geography, gender, job title and other […]