Added together, the total legislative change affecting financial planning brought in under the current government forms a remarkable conglomeration. The challenge to advisers to keep up with rapid changes is certainly significant.
Over the past year, the attention of the national media was caught by the well-celebrated U-turn in the treatment of residential property within sipps and, subsequently, by somewhat more of a chicane in the taxation of trusts by the Finance Act 2006. It is true that since the changes to trusts were first proposed in the Budget back in March, there has been much confusion and debate about exactly how the changes are going to manifest themselves in the advice process. However, despite this, you must not shy away from trusts because they still have a crucial role to play in ensuring clients ...
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