June D-Day Set for £100m Judgement in Isle of Man Investor Compensation Case
British and expatriate investors are awaiting a £100 million (≈$128 million) judgment in an Isle of Man compensation case involving Friends Provident International and Utmost. The acting deemster has set a new hearing date of June 8, marking the seventh postponement since the trial concluded in May 2024. Claimants allege the insurers misrepresented low‑risk life assurance products that were tied to collapsed investment funds. A separate, larger class action involving 1,600 claimants is slated for a 10‑week trial in March 2027.
Wealth Specialists Warn of Risks to Estate Planning as IHT Receipts Reach Record £8.5bn
Inheritance tax (IHT) receipts rose to £8.5 billion (about $10.8 billion) in the 2025‑26 tax year, marking a fifth straight record. The surge stems from the freeze on the £325,000 nil‑rate band and the £175,000 residence nil‑rate band until 2031, combined with...
UK and Australia Sign MoU to Unlock Investment
The United Kingdom and Australia have signed a memorandum of understanding to deepen investment ties between their pension and superannuation sectors. Chancellor Rachel Reeves and Treasurer Jim Chalmers announced the deal at the G20 finance meeting in Washington, DC. The...
People Moves: Clifton, PIMFA, Stonehage Fleming
Clifton Asset Management named Ashley Wise its first chief technology officer, tasking him with modernising the firm’s platform and embedding AI across client‑ and adviser‑facing systems. PIMFA welcomed Brooks Macdonald CEO Andrea Montague to its board to steer advocacy and external relations....
Standard Life Sees Growing Demand for International Bond Amid Tax Changes
Standard Life reports a surge in demand for its UK International Bond as 2025 tax reforms—particularly changes to capital gains tax and inheritance tax—prompt advisers to recommend tax‑efficient solutions to a broader client base. The insurer expects the strongest growth...
Ogier and MJM Partner to Share Cross-Border Legal Expertise
Ogier, a leading international offshore law firm, has formed a partnership with Bermuda‑based MJM to jointly serve cross‑border clients. The alliance will allow both firms to pool expertise across key finance hubs, notably extending Ogier’s capabilities into Bermuda. By collaborating...
Standard Life Buys Aegon UK for £2bn
Standard Life agreed to acquire Aegon UK for roughly £2 billion (about $2.5 billion), creating the United Kingdom’s largest retirement savings and income platform with 16 million customers and £480 billion ($600 billion) in assets under management. The transaction is funded by cash, debt and...
UK Chancellor to Review Double Taxation Rules in Bid to Attract Expats
UK Chancellor Rachel Reeves announced a review of the UK‑US double taxation rules that currently force American earners to pay tax in both countries after moving to Britain. The move follows the 2025 abolition of the non‑dom regime, which left...
Expats Returning From Middle East Face Mortgages Hurdles in the UK
Returning expatriates from the Middle East are encountering significant obstacles when applying for UK mortgages. Lenders view the lack of recent UK credit history and foreign‑currency income as high‑risk, often steering borrowers toward specialist expat mortgage products. These niche loans...
Brits Retiring Overseas Could Forfeit More than £77k in State Pension Income
British retirees moving abroad this tax year could forfeit more than £77,585 (about $98,000) in state‑pension income over a 20‑year horizon, according to Rathbones research. The loss stems from the UK’s triple‑lock policy, which freezes pension payments for expats in...
Hansard Unveils Bitcoin ETF
Hansard has introduced the Hansard International iShares Bitcoin Trust ETF, a BlackRock‑backed, unit‑linked fund that offers 100% exposure to Bitcoin. The product is listed as a regulated ETF and is accessible through Hansard’s Ascend and Future Focus platforms. Unlike direct...
UK Government Waters Down Pensions Mandation Powers
The UK government has softened its proposed authority to compel defined‑contribution pension schemes to invest in private markets. An amendment to the Pension Schemes Bill now limits any mandatory allocation to the targets set in the voluntary Mansion House Accord...
People Moves: Evelyn Partners, Oakglen Wealth, Vistra
Evelyn Partners hired Emma Arnold as its North West business development manager, strengthening its adviser outreach in Liverpool. Investment Trends announced a leadership change, with Harry Mitchell replacing departing CEO Eric Blewitt after a three‑year tenure. Jersey‑based Oakglen Wealth Planning...
Utmost Worldwide Guernsey Fined £1.96m over Financial Crime Risk Failures
Guernsey's financial regulator fined Utmost Worldwide's island branch £1.96 million (about $2.5 million), the largest penalty it has ever issued. The fine stems from a decade‑long underestimation of financial‑crime risk in its life‑assurance business, especially the use of unregulated brokers in South...
DFSA Announces Package of Regulatory Relief Measures for Firms
The Dubai Financial Services Authority (DFSA) unveiled a temporary regulatory relief package for firms operating in the Dubai International Financial Centre (DIFC). The measures grant flexibility in licensing, governance, reporting and implementation timelines to help both new applicants and existing...
Blevins Franks: Net Closing in on Undeclared Assets
Blevans Franks warns that EU border controls and new data‑sharing regimes are tightening scrutiny of expatriates and holiday‑home owners. The EU Entry/Exit System now records biometric data and flags 90‑day overstays, exposing individuals to tax probes. Simultaneously, the Common Reporting...
HMRC Homes in on Tax Evaders with Launch of Reward Scheme
HMRC launched the Strengthened Reward Scheme on 6 April, offering informants a share of recovered taxes. Whistleblowers who provide evidence leading to at least £1.5 million (about $1.9 million) in unpaid tax can earn 15‑30% of the amount collected, excluding penalties. The program...
Video: IA In The Loop: John Beverley, TEAM Plc
Team PLC announced the acquisition of WH Ireland, adding a FCA‑regulated adviser to its portfolio and strengthening its UK presence. The deal is designed to help UK advisory firms serve clients who are relocating overseas or returning to the UK,...
Investors Trust’s David Knights on Succession Planning and Intergenerational Wealth in Asia
David Knights, head of Investors Trust’s Asian distribution, relocated to Kuala Lumpur three years ago, building a cohesive, multilingual team that enhances client service across the region. He notes that Asian high‑net‑worth clients are increasingly focused on longevity, sustainable retirement,...
Guernsey Regulator Warns over Fake Documents Linked to Advance Fee Fraud Scheme
The Guernsey Financial Services Commission (GFSC) has issued a warning after discovering counterfeit documents bearing its name being used in an advance‑fee fraud scheme. The scheme employs a fictitious law firm, Flaven Law Chambers, and a bogus bank, ApexKrest Bank,...
Opera Group Acquires Accuro and Meritus to Expand International Presence
Opera Group completed the acquisition of Accuro and Meritus Trust Company, marking the fourth and fifth deals in its five‑year Project Overture transformation. The purchases expand Opera’s footprint to eight jurisdictions, bringing total assets under administration to over $81 bn and...