Treasury

HOBAN

The government has promised it will only implement changes to tax legislation retrospectively in "wholly exceptional circumstances", after concerns were raised that it could damage the UK's reputation.

Difficult conditions in the income drawdown market mean some clients can now get more income from a standard annuity. Helen Morrissey looks at what this means for the industry

FATCA

The Pensions Income Choice Association (PICA) is today issuing a request for information to develop a directory of financial intermediaries.

A range of kitemarked simple products should be introduced to help restore consumer trust in the financial services industry, a Treasury-commissioned review has recommended.

Amendments should be made to the Financial Services Bill to ensure the Financial Conduct Authority (FCA) properly promotes UK financial services in the global market, a think tank has said.

The government response to a European Court of Justice Ruling outlawing gender-based pricing of annuities has made it more likely that a test case will be brought, a lawyer has said.

The Association of Independent Financial Advisers (AIFA) has set out plans to the Treasury on how regulatory fines could be used to transition the Financial Services Compensation Scheme (FSCS) to a pre-funded system.

The government is to announce details of a deferred payment scheme for residential care for the elderly, which will allow councils to lend individuals money to pay for care, then recoup the money when their house is sold after their death.