It can take a long time for financial cases to wind their way through the courts in the following instance since 2014.
The long running Staveley case sees the Supreme Court suggest that transfers made by the terminally ill may be free of inheritance tax but the intention behind the transfer is key. After winding through the courts, the case is a partial win for HMRC because the failure to draw benefits is deemed to make the money subject to the tax. One for the technicians to consider. Royal London has quite a neat assessment here.
Platforms are predicted to emerge stronger post COVID-19 as assets rise according to consultancy Platforum.
Canada Life technical director Andrew Tully says that vulnerable client policies need to be embedded in firm’s DNA.
The payout from Neil Woodford’s fund wind up is approaching two thirds of the money invested at the time of the suspension last June.
Transact has tightened its transfer rules regarding insistent clients.
AFH has acquired the client book of collapsed Welsh IFA Juno Moneta Capital.
Intelliflo and Hubwise are integrating their software. It joins Intelligent Office with Wealthlink.
J.P. Morgan has called for the Chancellor of the Exchequer Rishi Sunak to extend the furlough scheme to avoid unemployment rising to 2 million.
In the bank’s view, the government should be supporting businesses that will still be viable post crisis in the event of a vaccine. A debate to watch because it may have some influence on the Treasury.