Advisers have, no doubt, spent the weekend digesting last week’s budget and in particular what it means for their better off self-employed clients. The two tax changes on NI and dividends have certainly exercised advisers though we await the details of the NI change in the autumn in time for next year, if the change survives this long.
Wingate Financial Planning’s Alistair Cunningham says the dividend allowance cut to £2000 is a stealth tax rise and suggests that given corporation tax much has already been paid.
The rise in NI for the self employed is causing ructions in the Conservative party with news in the the Telegraph that the cabinet was never briefed about the manifesto commitment breach. (Shouldn’t they have known already?) The Treasury is apparently briefing to say Number 10 needed the funds to look after the just about managing.
New Model Adviser suggests that advisers will be reassessing how they pay themselves.
The Treasury is apparently phoning providers every week urging them to offer the Lifetime ISA.
Zurich is asking that the NI increase can be rebated into pensions as Professional Adviser reports.
Actuaries Broadstone tell FTAdviser that changes in the calculation of redress for pension transfers is set to increase the PI bills and FCSC redress bills.
New businesses will be offered an auto-enrolment reprieve of three months according to a recent rule change.
The Government expects its stamp duty surcharge on buy-to-let properties and second homes to raise an extra £600m for the 2016/17 year says Mortgage Strategy.
Standard Life’s 1825 is criticised for a letter to Pearson Jones clients saying that although the business is now restricted it is not restricted in what it can recommend in comparison with previously. Hmm. Better choice of synonym would surely have been better.
