View more on these topics

Raising awareness

I Refer to Nick White’s comments in Money Marketing last week, First, regarding borrowing, the whole point of the article was to raise the awareness level of advisers, not to serve as a technical master class.

It was not my article anyway, being written by a Money Marketing journalist. Within the 200-word constraint imposed on the journalist, I thought that they made an excellent job of getting the main idea across. The 78,000 figure was used for simplicity. The Sunday Telegraph covered the same story the weekend before it appeared in MM. They had 600 words to play with and did indeed mention the recycling issue.

Regarding residential property, it is simply ridiculous to suggest that what I first said in January 2005 had anything to do with the Treasury’s U-turn in December 2005. At least three other commentators (including an independent firm of analysts) made similar, if not identical, estimates. Are they also to blame? Whether my estimate was “inaccurate” or not is debateable.

Moving to SSASs, the Revenue may or may not decide to close this loophole. However, what is important is that we get clarity now rather than in 10 year’s time, when we will have people stuck in SSAS scheme pensions that no longer want to be there without the accompanying tax break.

If the Revenue does not act, then it is clearly content that this sort of tax planning is acceptable. At least everyone who reads MM now knows that this exists rather than that knowledge being limited to a select group of tax planners (although whether they are “cynical” is also debateable).

If I was the Treasury, I would rather have everything out in the open. I would guess that what really winds them up are those people who have taken a close interest in the legislation and are intent on surreptitiously exploiting its sieve-like holes.

John Lawson

Head of pensions policy,

Standard Life

EdinburghMoney Marketing Money MarketingJohn LappinJames PhillippsAndrea TryphonidesPaul McMillanSam ShawJames Salmon, Guy AnkerRavneet AhluwaliaMatt GoodburnPhilip ScottNicola YorkRoger PackerGary WestAlison JolleyAmanda NewmanAnna RuddockDevika CampbellGareth Tudman Julia O’Brien,Elaine O’GradyEmma Hashem,Rory Wilson,Chris Bond,Simon HadleyNita Patel,Amanda Shaw,Denton ZeemanJulia StuartLisa O’RourkeTim Potter,Sam StroudPatrick Ponsford


Consultants brought in to boost Hip training

The Department for Communities and Local Government has hired consultants to shake up home inspector exams to ensure that enough people pass by next June, Money Marketing understands. The move follows industry concerns that not enough home inspectors will be trained in time for a full rollout in June 2007. The Government estimates around 7,000 […]

Safe and secure?

Our panel of experts discuss secured loans, fraud and the role of Ship in equity release

Live cover gap static as IP divide widens

Swiss Re’s annual industry protection report reveals that the life assurance protection gap remained static at £2.3 trillion in 2005/6 for the first time ever but the income protection gap grew to £170bn.

Leaked white paper reveals two admin alternatives for NPSS

The Government will be proposing two alternatives to the administration of NPSS according to leaked details from the white paper on pension reform.The leak to The Guardian this morning suggests that the administration of the national scheme could be organised through providers managing personal accounts.This would allow individuals to choose their own accounts from a […]


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 advice.

    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