Plans to ensure that advisers pay large fines if they are found to be ‘enablers’ of tax avoidance have been blasted as “ludicrously draconian” and ill conceived.

Financial adviser network Tenet has announced what it said it believes to be the first Paraplanner apprenticeship in the country to launch since a government-backed scheme was introduced.

Nearly 3 in 10 adviser firms have an their average annual turnover of more than £1m, a study published this morning has suggested.

A tax adviser with many household names from the world of entertainment has been convicted for evading more than £6 million in tax.