The CEOs of four financial services giants - AJ Bell, Quilter, Hargreaves Lansdown and Interactive Investor – have jointly written to chancellor Rachel Reeves opposing the way the government plans to introduce inheritance tax (IHT) to pensions.
The big name firms, which collectively manage £430bn of investments for 3.4 million people, joined forces to oppose the methodology behind the tax policy which is due to come into force in April 2027. It was first announced in the Autumn Budget and has been criticised for being overly complex. Michael Summersgill is CEO at AJ Bell, Don Olley heads Hargreaves Lansdown, Steven Levin is CEO of Quilter and Interactive Investor is headed up by Richard Wilson. The joint letter said while decisions on raising tax revenue were for the government the CEOs "believe there are better ways to achi...
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