Introduction Welcome to the latest edition of our Financial Crime Awareness Bulletin. This bulletin considers recent developments and trends in the area of Financial Crime and is intended to bring them to your attention. We aim to raise awareness of key topics affecting the industry, highlight important issues, changes to legislation and re-emphasize the need […]
Client categories: Parent Holiday fines to continue A debate in parliament, prompted by an online petition, about fines for parents generated plenty of emotion, but the government said the current system, where local authorities can fine parents for taking children out of school to go on holiday, would not be changed. A survey found that […]
Client categories: Saver/Investor £6bn property funds close the doors Standard Life, M&G and Aviva have all halted dealings in their commercial property funds because of the prospect of declining property values in the wake of BREXIT, says the Telegraph. The effect is strongest in London, where demand for offices is expected to fall significantly. Funds […]
Introduction Welcome to the first edition of our Financial Crime Awareness Bulletin. This bulletin considers recent developments and trends in the Financial Crime sector and is designed to bring them to your attention. It is intended to draw your attention to key topics affecting the industry, highlight important issues and changes to legislation and re-emphasise […]
Client categories: Property owner Brokers aim for ‘divorce mortgage’ Mortgage brokers are trying to persuade lenders to offer ‘divorce mortgage’s for couples splitting up in their fifties, says the Telegraph. The over-50s account for the fastest increase in UK divorces and over a quarter of them have to sell their properties when they split up. […]
BANKRUPTCY Synopsis: Insolvency Service issues pensions guidance in the light of the Horton V Henry case. The Insolvency Service has issued revised guidance to official receivers and Debt Relief Order (DRO) intermediaries on how to deal with undrawn pension entitlements in the light of the decision in Horton v Henry [2014] EWHC 4209 (Ch), see our Bulletin dated 3 […]
Client categories: Saver/Investor, Employee Should you defer your pension? If you will soon become entitled to a state pension, then the big question is whether you should defer taking it, says FT columnist John Kay. Since you get a 10.4% increase in the pension for every year of deferral if you reached pension age before […]
TAX AVOIDANCE Synopsis: New corporate criminal offence of failing to prevent the facilitation of tax evasion will be introduced in the current parliamentary session as part of the Criminal Finances Bill. The new corporate criminal offence of failing to prevent the facilitation of tax evasion will be introduced in the current parliamentary session as part […]
BUDGET 2016 Synopsis: Rewards paid by banks are deemed by HMRC to be annual payments which means that the payment is fully taxable and will not benefit from the personal savings allowance. The new personal savings allowance, introduced in the 2015 Budget and applicable from April 2016, allows basic rate taxpayers the ability to earn […]
Client category: Saver/Investor Get even – save more tax Sunday Times columnist Ian Cowie tells readers who are angry about the rich paying so little tax: don’t get mad, get even. He points out that using the annual ISA allowance (currently £15,240 per year, but rising to £20,000 in 2017) every year, a couple can […]
