A FCA consultation proposed expanding the pool from which the FSCS draws the funds it uses to pay compensation. It proposed that 25% of the levy on financial advisers be paid by the providers of pension products. Results are in… providers to pay!
For years, the FSCS has been making hefty levies on financial advisers to compensate people after the fallout of what are essentially investment scams. The levies fall on those remaining in the industry.
In our blog of just over a year ago, we advised that the FSCS deposit protection limit had been cut from £85,000 to £75,000 with effect from 1 January 2016. We look at why, with effect from 30 January 2017, this limit has risen back up to £85,000.
It's the time of year when people are asking themselves how much they/their company, can pay into their pension. SIPPs Online provides immediate access to SIPP accounts, helping individuals to make the right decisions based on the available information.
When it came to the detail on pensions, the autumn statement was a quiet one for a change, although we would caution that one measure in particular could prove significant when it comes to taking benefits.
Andy Leggett suggests that when it comes to the ban on cold calling, the heart is in the right place but unless it is improved significantly, the proposed bill could do more harm than good. Read more about this 'hotline sting' in his latest blog.
Were HMRC to remove the facility for in specie contributions, there would be undesirable unintended consequences. Andy Leggett examines the implications as well as the pros and cons of various options in his latest blog.
In his latest blog Andy Leggett takes a look at one of the most-talked-about changes to the SIPP industry for many years which took effect on 1 September – the changes to the rules on capital reserves for SIPP operators.
Changes to the rules on capital reserves for SIPP operators take effect on 1 September 2016. These changes are around how the amount of those capital reserves is calculated. They may sound boringly technical but they represent a radical change.