Platform and SIPP provider AJ Bell has reported a 37% rise in revenue to £103.6m for its half year ended 31 March, in figures out today.
Transact parent IntegraFin Holdings issued a trading statement today saying that the group was “performing well” with adjusted pre-tax profit for the year ended 30 September expected to be “moderately above” the top end of analysts’ estimates.
SIPP and platform provider James Hay has seen revenues drop by £1.4m, in disappointing results for the first half of the year.
Regular readers may recall my Blog from last October, entitled “Cart before horse nonsense has to stop”, in which I berated the time it was taking to get legislation through Parliament, ratifying pension-related changes that had, in effect, already come into force (for example, applying for Fixed Protection 2016).
When Theresa May called a snap General Election in April, few would have envisaged the outcome resulting in a hung parliament and no Conservative majority.
Regular readers may recall that my blog in November 2016 focused on HMRC unexpectedly challenging SIPP providers on whether net pension contributions could be made in specie, (that is, a change of legal ownership without any sell/buy transactions), and still receive tax relief.
A-Day on 6 April 2006 ushered in a new taxation regime for pensions, under the heading of Pension Simplification (no sniggering at the back, please).
Reduction in the MPAA: a sign of things to come?
Sitting here amidst a post-Christmas lull, whilst tucking into a seventh meal comprised of turkey, my mind naturally drifts to the Autumn Statement consultation about reducing the Money Purchase Annual Allowance (MPAA) from £10,000 to £4,000 with effect from 6 April 2017.
Sitting here amidst a post-Christmas lull, whilst tucking into a seventh meal comprised of turkey, my mind naturally drifts to the Autumn Statement consultation about reducing the Money Purchase Annual Allowance (MPAA) from £10,000 to £4,000 with effect from 6 April 2017.
During the summer, HMRC unexpectedly began challenging Sipp providers on whether net pension contributions can be made in specie, (that is, a change of legal ownership without sell/buy transactions).
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