November 2017
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  • HMRC pension freedoms tax repayments ‘tip of the iceberg’

    6 November 2017

    HM Revenue & Customs has paid back nearly £37 million in over-taxed pension withdrawals over the last three months, in what has been dubbed “the tip of the iceberg” by pension provider AJ Bell. The latest statistics published by HMRC revealed that it handed over £36.9 million in overpaid tax on flexible pension payments between...

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  • Drawdown squeezing out annuities even further FCA figures show

    6 November 2017

    The latest FCA product sales data has shown a dramatic drop in annuity sales, while drawdown products have soared since the introduction of the pension freedoms.  In the second quarter of 2017, annuities accounted for less than a quarter of all decumulation product sales, while income drawdown accounted for 76% of sales. A total...

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  • Workplace pensions are minefield for millennials

    6 November 2017

    Workplace pensions remain a minefield for many millennials, according to new research by Aegon. The research revealed that nearly a quarter of the respondents aged 18-34 years old with a workplace pension had no idea how much their employer pays into their workplace pension and 41% said they were unaware that they get tax...

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  • Technical: How to borrow safely from pension schemes

    6 November 2017

    Limits to how much individuals can contribute to pension funds like SIPPs mean the need to borrowing cash for property purchase, for example, has risen. Martin Tilley, director of Technical Services, Dentons Pension Management looks at the technical issues for scheme members. With historical reductions in the headline annual allowance and further reductions imposed...

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  • EIS Association publishes ‘Under the Bonnet’ guide

    2 November 2017

    The Enterprise Investment Scheme Association has created a guide outlining the benefits of Enterprise Investment Schemes to investors and small companies, amid growing interest in the area.  EIS: Under the Bonnet details the path of an EIS investment, from the initial sourcing of funds from UK tax-paying investors through the different stages to the...

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  • Fraud victims too embarrassed to report incidents

    2 November 2017

    Barclays is encouraging victims of fraud to report the incident, as new research reveals more than one in four fraud victims were too ashamed to tell their partner, and victims are often targeted more than once. Barclays has launched the Embarrassing Fraud Clinic, designed to reduce the stigma surrounding fraud and encourage people to...

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  • New fund raising for Calculus VCT

    1 November 2017

    Calculus Capital has launched fundraising for its venture capital trust, aiming to deliver investors an annual dividend of 4.5%, or 6.1% for investors who receive 30% income tax relief.  The proceeds from the fundraising will be used to invest in new companies and to provide additional funding to existing portfolio companies, the firm said....

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  • Call for death benefits to be made easier to understand

    1 November 2017

    AJ Bell is calling for a change in the death benefit rules, as its latest research reveals the majority of UK adults with personal pensions are confused about what happens in the event of their death.   The findings revealed only 7% of those with a personal pension could correctly identify how their pension...

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