GRiD Response to HMRC Technical Consultation Inheritance Tax on pensions: liability, reporting and payment
22 January 2025. GRiD has responded to HMRC’s technical consultation “Inheritance tax on pensions: liability, reporting and payment” which closes today. Our submission: Seeks urgent clarification for the scope of any taxation changes and states why we believe that insured life benefits alongside pensions should not be subject to inheritance tax (IHT). Should the unfortunate […]
GRiD response to DWP Making Work Pay: Strengthening Statutory Sick Pay consultation
GRiD’s response to the government’s consultation on strengthening Statutory Sick Pay, which closed on 4 December 2024.
GRiD response to WPI Economics Future of insurance and long-term savings Call for Evidence
WPI Economics has been commissioned by the ABI to undertake a piece of thought leadership exploring the future of insurance to mark the ABI’s 40th Anniversary. The call for evidence research will consider the industry’s role in supporting prosperous and secure households, communities and business over the next decade. The report will set out how […]
Autumn Budget 2024 -important information for group risk practitioners
As you will have seen in the Autumn Budget on Wednesday 30 October 2024, the government is bringing unspent pension pots into the scope of inheritance tax from April 2027. The consultation launched alongside the Budget goes further than that and announces that “from 6 April 2027 most unused pension funds and death benefits will […]
GRiD Autumn Budget 2024 Submission
GRiD has made a representation to HM Treasury for the upcoming 2024 Autumn Budget. Our submission: • Focuses on 3 key changes which we believe are achievable. • Includes background information on the issues. • Includes suggestions on how the changes could be implemented simply and effectively. The 3 key changes cover: 1. Pure Protection […]
FCA announces work into pure protection market
The FCA has announced that it intends to launch a market study on how pure protection products are sold. Whilst the proposed Terms of Reference indicates that the scope of the market study will exclude “workplace group policies”, the GRiD Regulatory Committee is currently considering what, if any, implications/unintended consequences there might be for the […]
GRiD response to Fit Note Reform Call for Evidence
GRiD’s response to the call for evidence to explore reforming the fit note process to support those with long term health conditions to access timely work and health support, which closed on 8 July 2024.
GRiD member briefing on the Insurance Act 2015 and its impact on group risk
This is a summary of the impact of the Insurance Act 2015 on group risk, prepared for GRiD member firms. This summary is not intended to replace any aspect of the legislation and should not be relied upon as part of a firm’s compliance with its obligations. GRiD does not provide legal advice. GRiD is […]
GRiD Member Briefing March 2024: FCA Policy Statement PS23/14 affecting income protection through salary sacrifice
GRiD Member Briefing: Policy Stakeholder In September 2023 the FCA issued Policy Statement PS23/14 including the final rules for multi-occupancy building insurance which came into effect from 31st December 2023. The policy extends PROD rules to include a new customer type of ‘Policy Stakeholders’ where a person has both: a contractual or statutory obligation to […]
GRiD Member Briefing February 2024: Lifetime Allowance
Further detail has been published in respect of the changes announced for the lifetime allowance (LTA). The removal of the LTA charge took effect for any benefit crystallisation event occurring on or after 6th April 2023 and is replaced by an income tax charge for benefits in excess of the LTA. HMRC has confirmed that schemes […]
