There will be no further increases to Insurance Premium Tax (IPT) this year, the Autumn Budget 2017 has revealed.
The insurance industry has been urging the government to halt any further IPT rises, as the rate now stands at 12%. In recent weeks, Nigel Evans MP, sponsored an Early Day Motion (EDM) petitioning the government to freeze IPT for the rest of this Parliament. Prior to the Autumn Budget, British Insurance Brokers' Association (BIBA) had made a submission to the government describing IPT as "too high." IPT had been increased from 6% to 12% in just under 18 months. Stuart Scullion, chairman...
The Financial Ombudsman Service (FOS) will maintain its current funding model for the next financial year despite recognising it is unsustainable in its current form.
The FCA has confirmed that, while businesses will have to identify certified staff from day one under the Senior Managers & Certification Regime (SM&CR), they will have a year to complete fitness and propriety assessments.
Scott Cadger runs through the four most common reasons people give for not taking out critical illness cover - and some suggestions on how advisers can offer reassurance on each in conversations with clients
The Financial Ombudsman Service (FOS) has sought to provide clarity regarding any potential confusion over the products advisers should recommend to clients to cover a decreasing loan or mortgage.