Treasury untethers the POAT

The move comes after lobbying by providers and distributors of such products suggested the government seemed to be going down a route of penalising retirees who were simply cashing in on the equity in their properties to fund retirement. In response to a question earlier this week, paymaster general Dawn Primarolo confirmed this would no longer be the case. ”We will ensure that the pre-owned assets measures have no impact on the full range of bona fide equity-release schemes with arms-length providers, while continuing to bear down on schemes aimed merely at avoidance. The Inland Reve...