Simple Financial Products – LITRG comments
The Government is looking to develop a series of Simple Financial Products. LITRG has stressed that it is important to consider tax rules in their design.
The Sergeant Review of Simple Financial Products recently published an interim report.
LITRG welcomes any simplification which would help people to understand their finances and encourage them to save and protect themselves where they can. In designing simple products, tax must be considered at an early stage. Also, it would help to restore trust in the system if there were to be a clear commitment not to change the product criteria and tax rules at a later date.
LITRG’s letter to the review panel can be read using this link to the response.
Contact: Kelly Sizer (please use form at http://www.litrg.org.uk/ContactUs)