The parent company of Transact, the platform used by many Financial Planners, has been hit with an unexpected £4.3m VAT bill from HMRC which could also see the company having to pay an additional £1.4m a year in VAT.

Pensions drawdown investors have seen positive growth in four out of the five years since the Pension Freedoms arrived in 2015, according to a new study.

Adviser support group SimplyBiz has reported a 24% jump in revenue for the year ended December following its takeover of Defaqto in March 2019.

Michael Howard, the founder of platform Transact, has sold 8.5m shares in holding company IntegraFin to set up a new charitable foundation.

The Money and Pensions Service, the government-backed consumer financial guidance body, has appointed acting CEO Caroline Siarkiewicz as its permanent chief executive.

Chartered Financial Planning firm Fairstone has acquired two new advisory firms, one in the South and one in the East.

Well known Financial Planner Andy Jervis CFP, one of the first people in the UK to achieve CFP status, has been appointed by the CISI as President of its East Midlands branch.

Nearly 7,000 UK financial advisers have reached Chartered Financial Planner status 15 years after the designation was launched, according to the latest figures from the PFS.

Financial Planner Charles Derby Group has been rebranded as Quilter Financial Advisers in the latest move to create a national financial brand for Quilter.

The Financial Conduct Authority’s pension scheme has apologised after being hit with a £2,000 fine from The Pensions Regulator over governance shortcomings.