Month: October 2019

280 – ANNUITY RATES HIT 25 YEAR RECORD LOW

Annuity rates hit their lowest level since 1994 in September, with implications for those making retirement decisions. Since the introduction of pensions flexibility in 2015, annuities have become much less popular as a way of converting a pension fund into income. The most recent figures from the Financial Conduct Authority show that over five times…

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278 – CRACKING DOWN ON COMPLIANCE PAYS FOR HMRC

New figures show HMRC’s “customer compliance” efforts are yielding substantial sums. In early August, HMRC issued its annual report and accounts for 2018/19. While not everyone’s choice of holiday reading, it did contain some eye-opening information about the “compliance yield” - how much HMRC raised from its work in countering tax avoidance schemes, tax evasion…

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