Ritchie advises IFAs to prepare for tax changes

clock •

IFAs have to start preparing both their clients and themselves for coming pension tax simplification reforms, despite not knowing the final details or if the proposal will go through at all, says Stewart Ritchie, pensions development director at Scottish Equitable.

In his latest Ritchie Papers (No. 85, 86, 87) out today, Ritchie cautions advisersnot to just sit on the fence while awaiting the government's final proposal regardingthe Inland Revenue's simplification paper, but take action NOW as it will affectthe advice they will be giving their clients. Ritchie says: "Advisers must not let the action embargo lead to a planning embargo. The urgent advice issues are not just about high earners. Anyone able to take their pension between now and A-day will have to consider whether they would be better to delay until after April 2005. To help IFAs pla...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Advisers urged to rethink role of traditional diversification

Advisers urged to rethink role of traditional diversification

Milliman publishes whitepaper

Sophia Panayi
clock 29 September 2026 • 2 min read

Active ETFs, ESG and the retirement advice challenge

Sarasin & Partners portfolio manager Ben Gilbert joins PA in the studio

Isabel Baxter
clock 05 June 2026 • 1 min read
Tyndall Partnerships head Sullivan on bespoke empowerment

Tyndall Partnerships head Sullivan on bespoke empowerment

‘No two IFAs invest in the same suite of models’

Isabel Baxter
clock 09 December 2024 • 4 min read