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Published on 13 December 2018

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.

A young person holding hands with an older person. ©istock/PeopleImages
©istock/PeopleImages

The LITRG's submission can be found here: Consumers’ access to financial services – LITRG response

Gillian Wrigley

 

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