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HSBC profit boosted by lower redress costs

HSBC has reported a pre-tax profit of $6.1bn (£3.9bn) for the third quarter of 2015, up by 32 per cent year-on-year. The figure compares to a pre-tax profit of £3bn in Q3 2014, with the bank attributing the rise to lower regulatory costs. HSBC says the increase reflects lower fines, settlements and UK customer redress. […]

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Standard Life advice arm deputy exits

The deputy managing director of Standard Life’s advice business 1825 is leaving the company after eight months. Peter Heckingbottom was deputy managing director of Pearson Jones when it was acquired by Standard Life in February. The deal marked the launch of Standard Life’s advice arm 1825. Pearson Jones formed the North East hub of the […]

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Bellpenny to make back office job cuts

Adviser consolidation firm Bellpenny is to make a number of redundancies in its operations team. This week the firm put 51 staff in consultation from its Reading head office and Birmingham office. The consultation only affects Bellpenny’s operations team, which is made up of 140 staff. Bellpenny says the majority of redundancies will be made in Reading, […]

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Stephen Womack: Osborne must listen to pension tax relief views

Treasury officials will be working overtime in the next few weeks digesting the responses to the latest consultation on pension tax relief, which closed last week. Chancellor George Osborne has asked whether today’s model of tax-free contributions and growth, then taxed pension income, is still the best way to encourage a healthy savings culture. You […]

Inheritance tax and estate planning – exemptions and reliefs

By Kim Jarvis, technical manager with Canada Life’s ican Technical Services Team In this article we look at the main exemptions and reliefs that are available on death. Within the article, spouse also means civil partner.   Nil-rate band Under current rules, any part of the estate that falls within the available nil-rate band (NRB), […]

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