Treasury

The Treasury is expected to close a loophole that allows wealthy individuals to avoid paying stamp duty on expensive property transactions in draft legislation for the Finance Bill today.

The 50p tax rate is ineffective in raising revenue and encourages young wealth creators to hide their money abroad, a think tank has said.

The government has moved a step closer to implementing a general anti-avoidance rule (GAAR) to the tax system after a report recommended the move today.

Mark Hoban has insisted people on average to above average income are unattractive to the financial advice sector, and targeted this as the demographic for the Money Advice Service (MAS).

The government will continue to avoid interfering in the regulation of the retail investment market even after the break-up of the Financial Services Authority (FSA), it has confirmed.

Three-quarters of consumers believe the FSA failed to stand up to the banks in the run-up to the financial crisis and has not done enough to help consumers, according to Which?.

Proposals for ‘simple' products have raised the question: Is there a danger that, with basic solutions available, consumers with complex financial needs may bypass the advice channel?

The Treasury's "reference scheme" is being used as the basis on which a new public sector pension scheme will be designed. We look at what has changed.

The government has offered unions an improved pension accrual rate and more protection for workers approaching retirement in a concession on public sector pension changes.

Hector Sants, chief executive of the Financial Services Authority (FSA), has admitted accountability issues with parliament and apologised for ill-feeling caused by the FSA's refusal to delay the retail distribution review (RDR).