April has been a month of extremes, but it is in extreme scenarios that we are learning what limitations Trump faces in his bid to reshape the US domestically, and in its relationship with the rest of the world. We think these constraints provide the market with some reassurance that the most negative tail-scenarios can […]
Uncertainty, confusion, and fear stemming from Rachel Reeves’ first budget in October 2024 are contributing to higher demand for advice from both existing and prospective clients, research from Flagstone has found. The research, which surveyed UK financial advisers, found 53 per cent recorded more demand in additional services from existing clients. While 55 per cent […]
The Department for Work and Pensions has admitted its correction exercises looking into underpayment of the UK state pension – which mainly affects women – is heading into the billions. he DWP’s latest figures suggest the total amount from this big correction exercise (which started in 2021), the new correction exercise on Home Responsibilities Protection […]
‘There are now more small pension pots in the UK than pensioners’ Pensions minister Torsten Bell has set out Government plans to consolidate 13 million small pension pots worth £1,000 or less. At present, many people have multiple small pensions rather than one combined pot. It has been a long standing problem with the UK […]
Clients affected by delays in granting probate are being forced to sell investments and dip into savings to bridge the gap, research from investment manager Downing has found. The study revealed 76% of wealth managers and advisers have had to cash in investments as a result of probate delays in the past two years, while […]
Trust is “crucial” in the adoption of AI by financial services to ensure both protection and growth, Financial Conduct Authority head of innovation services, Colin Payne, has argued. Speaking about the FCA’s AI Sprint event, which discussed the use of AI in financial services and was hosted in January this year, Payne emphasised the importance […]
The Lifetime Isa withdrawal penalty cannot be scrapped because of the nature of the product, according to Emma Reynolds, Economic Secretary to the Treasury. Giving evidence in front of the Treasury Select Committee, Reynolds discussed the government’s plans to look into Isa reform. The minister was asked by a committee member whether the government was […]
An increase of 10.8% on the same period between 2023 to 2024 Inheritance tax (IHT) receipts have jumped again as the total take from the tax continues to climb steeply. Between April 2024 and March 2025 HMRC collected £8.2bn, which is £800m more than the same period last year. It represents an increase of 10.8% […]
The demand for private client services has never been higher, with family businesses and non-doms wanting to understand how the Autumn Statement 2024 is going to impact them. But there is also a new emerging trend: international entrepreneurs looking to move to the UK to prepare for their exit event and benefiting from the new […]
Investigations into underpaid capital gains tax by HMRC have more than tripled in the past year. Research by UHY Hacker Young revealed there were 14,223 investigations into suspected underpayment of CGT completed by HMRC in the past 12 months, a 4,564 increase on the previous year. It also revealed a total of £202.4mn in underpaid […]