Pension minister Steve Webb is continuing his assault on financial firms by looking at ways to unlock billions of pounds they hold because they have lost track of the retirement savers who have a right to the money. Webb has already joined with Chancellor George Osborne in a radical overhaul of the pension industry that … Read more
The full extent of how new inheritance tax rules for trusts will hit estate planning for families has been revealed by a legal expert. HM Revenue & Customs (HMRC) wants to change the rules so anyone with multiple trusts gets just a single nil rate £325,000 inheritance tax band. Currently, married couples can shelter £650,000 … Read more
The worst outbreak of the deadly Ebola virus is sweeping across four countries in Africa. The Ebola epidemic is the worst by geographical spread and the number of people infected. So far, the virus has claimed victims in Sierra Leone, Liberia, Nigeria after the first reported case were in Guinea earlier this year. The most … Read more
Sales of offshore bonds are dropping off at alarming rate as wealthy retired investors shift their money into other financial products. The first three months of the year saw the single premium offshore bond market collapse by nearly 10%. Sales slumped from £981 million at the end of last year to £881 million. Not only … Read more
The British financial watchdog issues warnings about bogus firms and scam traders almost every day, but many investors are still unaware of just how many fraudsters are after their money. The Financial Conduct Authority list of unauthorised financial and investment advisers is huge – covering just over 3,150 firms. Each is a scam operation and … Read more
Escalating violence in Iraq is starting to impact on the price of oil as rival groups battle to control the country’s oil fields and refineries. Iraq outputs around 3 million barrels of oil a day, and industry experts are concerned that fuel prices will rise and cause problems for economic recovery in many countries should … Read more
Thousands of British property owners with homes in Cyprus are hoping to end mortgage misselling claims after Alpha Bank Cyprus and a consortium of property professionals settled at the eleventh hour. The bank, property developers, lawyers and estate agents were due before the High Court, London, to face the misselling claims from a group of … Read more
The New Zealand population clock is speeding up as record numbers of expats arrive in the country. Latest government figures reveal one expat is added to the country’s population every 16 minutes. By the end of 2014, New Zealand expects to welcome at least 40,000 expats – the highest number for more than 10 years. … Read more
Higher rate taxpayers without a pension are missing out on more than £2,500 each in tax relief, according to new research. Around 10% of high earners do not contribute to a pension in the UK, says financial firm The Prudential. The study showed that the average higher rate taxpayer – that’s someone paying income tax … Read more
As momentum builds up for independent financial advisers to change their status to giving restricted advice, how many investors know the difference between the different levels of help they will receive when seeking advice. Industry trade paper FT Adviser reckons a quarter of financial advisers on their database of 10,000 subscribers call themselves restricted. But … Read more