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Scot Mut launches family trust to tackle inheritance tax

Scottish Mutual is launching a family trust that allows personal pension holders to cut their inheritance tax bills. The Spousal By-pass trust allows death penalties payable from personal pensions policies to be held for the benefit of the family member, whilst reducing the charges to inheritance tax.

Scottish Mutual taxation and trust specialist Neil MacGillivray says: “Ensuring that the maximum financial benefits pass to the family without exposure to IHT liability through a straightforward family trust makes financial sense to every high net worth individual whose spouse&#39s estate is in excess of the nil rate band.”


FSA wants public understanding

In light of recent speculation in Money Marketing and elsewhere, I would like to make it clear that the FSA has no plans to extend its role to offer investment advice to the public. Nor have we ever said we wanted to. We are, however, serious about promoting public understanding. We are exploring how tools […]

Packagers plan trade body to increase regulatory clout

Mortgage packagers are in talks about setting up a trade body which would aim to increase the sector&#39s influence in the new regulatory regime.Talks on the creation of the UK Association of Mortgage Packagers are being facilitated by Julian Jennings, who is stepping down as chief executive designate of the National Association of Mortgage Brokers […]

Mandrake goes with Synaptic

National IFA Mandrake Associates has signed up with Synaptic Systems for the provision of its Product Research Professional software and its comparative quotation system.Synaptic corporate business development Brod Whiting says: “We are delighted that such a successful national IFA firm has chosen Synaptic as its preferred technology partner. We will be working closely together to […]

Towry Law chief Black quits in AMP shake-up

Towry Law chief executive Douglas Black, who incurred the wrath of his fellow IFAs by suggesting Towry&#39s deal with the ICS saved the industry £20m, is leaving the firm. He will be replaced by AMP&#39s John Simmonds who is credited with striking the deal between AMP and the IFA. Simmonds becomes managing director. AMP says […]


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