Advisers have welcomed Tory calls to scrap stamp duty on shares but question whether the policy on its own will boost long-term saving.Conservative Shadow Chancellor George Osborne this week revealed that the party’s tax commission is looking at cutting or abolishing stamp duty on shares, which would cost the Treasury 4bn a year. Hargreaves Lansdown head of pensions research Tom McPhail says it a good piece of political manoeuvring but is sceptical about Tory claims that the move will increase savings. McPhail says: “It is undoubtedly good that people’s savings will grow faster but whether it would act as a catalyst to get more people to save is up for debate.” Richard Jacobs Pension & Trustee Services managing director Richard Jacobs says the move will not make a difference to people’s savings habits but could be good news if it signals a genuine desire to begin rolling back current taxes on savings.
The recent problems at Heathrow left me no option other than to drive to Scotland after British Airways could get me there but not bring me back. All the recent cancellations came as no surprise, having witnessed the understaffed approach to security when last going for a flight at the crack of dawn.
It is time we saw real progress in opening up borders for pan-European marketing
Service provider Threesixty is hosting a series of seminars throughout September on protection issues. The next series of its key issues seminars will examine the opportunities afforded by writing policies into trust in both the business protection and the new pension term assurance markets, as well as help IFAs choose the right products from the […]
Pension guru Steve Bee has attacked the Government for criticising advisers while failing to provide the public with information about the simplified pension regime. Scottish Life’s head of pensions strategy says there is still no simple literature available from Government departments which clearly explains the opportunities offered by A-Day, especially in complex areas such as […]
Fiona Tait takes a closer look at the Department for Work & Pensions’ forthcoming review of automatic enrolment In December, pensions minister Richard Harrington announced the scope of the DWP’s forthcoming review of automatic enrolment (AE). The review will look at AE coverage, as well as the current thresholds and age criteria. In other words: […]
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Latest statistics show personal pensions, in particular, get a bad rap The recently published preliminary estimates from the Office for National Statistics’ Wealth and Assets Survey make for interesting reading with regards to how people view pension savings and how safe they are. The next round of this survey will be even more interesting in light […]
Beaufort Group is planning to add three more firms to its network with one deal expected to finalise next week. Chief executive Andrew Bennett says the other two small to medium-sized firms are expected to join “imminently”. In January, Beaufort Group added Statehouse Group as an appointed representative. The firm is now called Beaufort Financial […]
Significant gilt weightings continue to be recommended, despite concerning signals on their risk Government bonds play a pivotal role in a balanced portfolio; there are very few assets that provide the diversification benefits gilts can bring. So often over the last 30 years, when equity markets have zigged, bond markets have zagged, thereby smoothing return […]