Jigsaw purse falling apart spilling money

Over £3 billion worth of pension funds misplaced by savers

The Pension Tracing Service, the government body responsible for helping people track down their misplaced workplace pensions, has released shocking figures revealing the jaw-dropping scale of their work. According to the statistics at least £3 billion from over a million savers has been misplaced, and The Pension Tracing Service was called on by some 150,000…

Safe with a Note Saying Inheritance Tax!

Will David Cameron Really Drop the Inheritance Tax Threshold?

David Cameron’s proposal to increase the inheritance tax threshold has been met with applause from the public at large but has certainly left financial experts sceptical, particularly as the Conservative’s promised this reform in their last manifesto in 2010 and it failed to materialise. Inheritance tax is paid by a single person with an estate…

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HMRC Gains New Powers in Fight Against Pension Liberation

The most trumpeted aspect of George Osborne’s Budget 2014 was undoubtedly his self-proclaimed “most far-reaching reform to the taxation of pensions since the regime was introduced in 1921″. However, alongside this much needed shake up of the pensions system came an equally vital but less newsworthy change: greater action against pension liberation. Budget 2014 has…

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HMRC Tightening Up on QROPS as Pension Liberation Moves Offshore

Under increased scrutiny from The Pensions Regulator and its affiliates, pension liberation scammers have changed tack; falsely marketing QROPS and other offshore pensions as means of accessing one’s pension pot early, a recent industry forum heard. The news came through HMRC’s latest Pension Stakeholder Forum, and highlights how pension liberators are becoming more sophisticated in…

Bank of England

Overseas Banks to Adhere to New Regulations

Britain’s Prudential Regulation Authority (PRA) has issued a new scheme to protect Britain’s banking system from the sometimes substandard regulatory practices of non EU banks. Asset management services of foreign banks now operating in the UK now account for some £2.4 trillion. If foreign banks wish to continue operating in the UK they must adhere…

Swiss Flag

Round 2! HMRC warns Swiss account holders

The UK/Swiss tax cooperation has yet to raise the projected £3.2 billion from tax dodgers, but they’ve yet to give up, sending a second wave of strongly worded letters to those who may be impacted by the agreement’s call for greater transparency. Although the letters are reported to threaten a detailed tax, “or in some cases”…

Businessman with mobile phone looking out airplane window

Nations Luring Expats in 2014

It is not uncommon for nations to create campaigns encouraging those overseas to relocate to their shores, with these often being carried out to address a shortage of skills or to spark an economic boost. As the new year begins, two very different nations have launched initiatives designed to drive immigration with the purpose of…