The government risks harming the financial futures of individuals in vulnerable circumstances through “poorly consulted” fiscal policy changes including inheritance tax (IHT) on pensions, trade body leaders and a special needs financial planning organisation have warned.
With financial planners and the public grappling with the IHT change and another Autumn Budget on the near horizon, industry representatives shared fears that disabled and special needs individuals and families could be among the hardest hit by tax and pensions policy shifts. Further, they argued that a communication and consultation gap has left financial planners facing difficult decisions and that advisers risk finding themselves at odds with Consumer Duty expectations. The impending IHT on pensions change could see carefully laid plans disrupted for special needs individuals and t...
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