Santander fined £32.8 million for failing to pass on inheritances to bereaved families

The Financial Conduct Authority (FCA) fined the bank £32.8 million after it found the firm failed in its duty to the relatives of deceased customers.

According to the FCA, more than 40,000 customers were directly affected, and the bank failed to transfer £183 million in funds entitled to beneficiaries.

The FCA says that it found the bank failed to disclose information relating to problems with the probate and bereavement process to the regulator after it became aware.

Budget 2018: Pension, investment and tax predictions

With just a couple of days until chancellor Philip Hammond steps up and delivers the Autumn Budget, speculation is mounting over the contents of his red briefcase.

So below we round up predictions for the world of personal finance, looking at possible changes to pensions, investments and tax.


Could you consider a DIY route to manage your family wealth?

Investing in a discretionary trust is often seen as a dodge for the very wealthy, to reduce the inheritance tax due on their estates when they die and protect family businesses where succession planning may be an issue. However, discretionary trusts can also be beneficial for those with ordinary estates.