Consumers’ access to financial services
The LITRG comments on this Treasury Committee call for evidence in relation to the tax and related state benefits issues that might affect vulnerable or low-income taxpayers, in particular to the proposed definition of vulnerable customers. It is vital that frontline advisers are able to understand and recognise vulnerability, and use their fact-find to the fullest extent to tease out any underlying issues. We also highlight two areas that we believe special care needs to be taken in relation to vulnerable customers: pension access and the interaction with tax and entitlement to state benefits.
The LITRG's submission can be found here: Consumers’ access to financial services – LITRG response