Following on from last week’s article, herein the second free Pension News bulletin from Paul Clark of Russelldene Consulting Ltd.
You can see the bulletin here.
I would draw your particular attention to the first article and the revised GAD tables and the impact this will have on reviews of capped drawdown on or after 6 April 2017.
I would also highlight the requirement for advisers to issue a prescribed HMRC letter to clients who hold non UK assets, investment or have non UK sourced income. This seems to include offshore bonds and failure to issue the letter may result in a £3,000 penalty per client.
For those who missed last week’s ATEB News, the first issue is available here.
There is normally a charge for this bulletin but for the first four issues, these will be provided free of charge via the ATEB newsletter. Thereafter, those interested in receiving the bulletin on an ongoing basis should contact ATEB for more information.
Regulatory permission – use it or lose it
Michael Senior Compliance 2021, FCA, ML, protection, Register
The FCA has published draft guidance on a new power that allows it to move faster to remove regulatory permissions that are no longer being used by financial services firms. Responses to the consultation (CP21/28) close on 29 October 2021. The driver behind the proposed power is the regulator’s belief that incorrect or outdated permissions […]