Ironically, one of the world’s few remaining communist states is home to some of the world’s richest families. Their rulers, now allegedly getting a little short of cash, are waking up to this and, funnily enough, deciding they should pay more tax. As happens in every part of the supposedly civilised world, the rich are ahead of the game and already moving their money, lots of it, enough to pay for a couple of days of Brexit, offshore. To, guess where, a British tax haven.
“Record year for annuity sales driven by advisers”
I was asked this week whether annuities are now ‘a good investment’. They’ve been recommended very rarely in recent years, since ‘pension freedoms’ allowed pretty much unlimited drawdown on pension funds and anything left to be passed on to beneficiaries free of Inheritance Tax.