View more on these topics

&#39Tax-free Isa dividends set to stay&#39

The 10 per cent tax credit on dividends within Isas will continue despite the Government&#39s current policy of scrapping them on April 6, 2004, according to senior industry sources.

They say that in private conversations with Inland Revenue senior policymakers they have been assured that the tax incentives on Isas will be maintained despite stated Treasury policy that the benefits will be phased out.

The news comes despite others in the industry claiming that their impression is the opposite and that the tax advantages will disappear as planned, leaving the industry to wonder what will happen in 18 months time.

It is also believed that the Revenue will scrap the difference between mini and maxi Isas, a move that would be welcomed by product providers which claim the two tiers only serve to confuse investors.

Experts say the removal of the credit would particularly put off lower-rate taxpayers and those using Isas for retirement.

One of the sources says: “While indications are not entirely clear at this stage, our belief is that the Revenue is willing to listen to the industry on this matter for the first time.”

Best Advice partner Paul Banfield says: “I am not surprised at all, as to abolish the tax credit in the current environment would have been another nail in the coffin of the savings industry.”

An Inland Revenue spokesman refused to comment on the matter.


AMP appoints Mohl as new chief executive

AMP has moved quickly to appoint Andrew Mohl as chief executive officer after Paul Batchelor was forced to step down after difficulties with its UK operations and the capital strength of the Pearl with-profits fund. Mohl was immediately made acting chief executive and his contract will be subject to shareholder approval. Chairman Stan Wallis is […]

Roger Ramsden

Roger Ramsden cannot be accused of merely dipping his toe in the water in his first foray into financial services. As Prudential marketing director, he plans to spend£20m on a relaunch of one of the UK&#39s biggest brands.He joined Pru a year ago after seven years at supermarket Safeway and last month launched the Plan […]

IFAs take two-thirds of fund sales

The best-selling funds in the IFA sector in August were UK all companies, equity income and corporate bonds and North America funds, according to Investment Management Association figures.Fund sales in the tied market were concentrated on UK corporate bond funds.Gross retail fund sales overall fell from July&#39s £2.3bn to £2.05bn but that figure was slightly […]

London property falls as Northern prices rise

London house prices fell in September while Northern regions saw strong rises.Market analysts Hometrack says the average price in central London fell by 0.2 per cent in September to £441,350 from £442,251 in August.Its monthly survey of the housing market in England and Wales shows that overall price growth was 0.6 per cent, with the […]

Oil industry: only the fittest will survive

The actions of OPEC have forced the oil supply to fall and producers to cut costs and rationalise, says Richard Hulf In an interview with journalist Alexis Xydias, Richard Hulf, manager of the Artemis Global Energy Fund, explains the impact of the fall in the oil price on energy companies. Alexis also quizzes Richard on […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm