HMRC targets trusts used for tax planning with new register
HM Revenue & Customs has kickstarted a new beneficial ownership register targeting those who set up trusts to “generate tax consequences” in guidelines published on Tuesday.
PEOPLE MOVES: Swiss Life, Columbia Threadneedle, Legg Mason
Swiss Life’s chief executive for Switzerland is to depart next year, with his successor already identified. Columbia Threadneedle has also named a chief executive, tasked with covering Emea and asset management. Legg Mason’s head of UK sales is set to depart, with a search underway for his replacement.
UK government drops secondary annuity market plans
The UK government has scrapped plans to set up a secondary market in annuities saying “it has become clear that creating the conditions to allow a competitive market to emerge could not be balanced with sufficient consumer protections”.
Date set for Hammond’s autumn UK statement
The UK’s newly installed chancellor of the exchequer Philip Hammond is to make his first autumn statement in the house of commons on 23 November, putting his own stamp on the treasury and setting out the financials post the Brexit vote.