Three things we learned this week

Drawdown transfer U-turn will be a ‘damp squib'- Skandia The government's U-turn of income drawdown transfer rules will be a ‘damp squib' warns Skandia. In March HMRC relaxed rules to allow clients who undertake drawdown reviews every five years to retain their current maximum annual income for the remainder of their review period if they choose to transfer their drawdown fund. The number of clients affected is limited to those who went into drawdown between April 2010 and April 2011. Some will see no significant difference in their income levels though some will be worse off. To...