A Financial Planning firm has hit out at the costs facing advisers to fund the new retirement service pledged by the Government in the Budget, labelling it the 'guidance tax'.

Ignorance among hundreds of thousands of small businesses about auto-enrolment dates is high, research has found, sparking a warning that companies face hefty fines if they fail to get clued up soon.

The chief executive of a Sipp provider has said his firm will steer clear of becoming a direct competitor in the platform market despite an alliance with a wrap platform tech company.

There has been a significant rise in clients wanting to use a Sipp or SSAS to help fund the purchase of a new commercial property, a law firm has reported.

The Government should cough up the costs of the new retirement guidance service for the first year, a pensions firm believes.

An investigation by an influential group of MPs has commenced into automatic enrolment, taking account of the changed context arising from the Budget reforms.