Comment and Blogs
I spend a lot of my working life in planes, trains and automobiles and what appears to be even more time in airport security queues, waiting at overcrowded boarding gates and platforms and stuck in endless traffic jams.
I have spent a lot of time over the last few months speaking to financial advisers about the opportunities and risks created by the new freedom and choice in pensions due to come into effect from 6 April.
The recent Budget announcement by the Chancellor that he would reduce the Grand Old Duke of Pensions - the lifetime allowance (LTA) - to £1m from 6 April 2016 will mark the eighth change in the LTA since its introduction in 2006 and this excludes personalised LTA afforded by certain forms of protection.
The Office of Budget Responsibility (OBR) has recently issued its annual Fiscal Sustainability Report. This report looks at how government spending and revenues may evolve over the next 50 years and how this will impact on public sector net debt.
Albert Einstein once said that "the hardest thing to understand in the world is income tax".
In November last year, the FCA asked Sipp operators to complete a (long) questionnaire to help them with their third thematic review. Among the 40 or so data items requested was the amount of Assets Under Administration (AUA).