Simple financial products consultation - LITRG response
Very often, where financial products are launched for those on low incomes there is a general tendency to consider any practical tax (or benefits) issues as a matter for later consideration. We would like to see such issues taken into account at the design stage so that a fuller understanding of the day-to-day problems created can be addressed early on.
The government recently issued a consultation setting out their proposed principles for a new category of simple financial products, to give consumers a more straightforward option for comparing and buying.
The consultation document Simple financial products: a consultation can be viewed using the link and our response is below.
Contact: Kelly Sizer (please use form at http://www.litrg.org.uk/ContactUs)