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Nicol said all gifts to a grandchild’s JISA, LISA or pension should be immediately free from IHT, instead of the current seven-year rule.
He also wants to see tax relief on a grandparent’s contribution to a grandchild’s personal pension and/or university tuition fees.
“Now is the right time to put long termism back into savings and investment policies,” Nicol said.
Key events for wealth managers in the week beginning 25 November
The label will come into effect on the 27 November
Global climate assets up 6% in first nine months of 2024
Reluctance of platforms to allow for fractional trading means the inclusion of ETFs and trusts within model portfolio services is being constrained
88% of companies globally either raised payouts or maintained their level
Number of women in the industry increases but female representation in the 50-64 age bracket declined, according to inclusion report
