Abbey has set up its eighth guaranteed income bond.The single-premium life insurance investment plan guarantees a fixed income and a full return of capital if the bond is held for its four-year term. Abbey is offering investors the choice of either monthly or quarterly income of 3.77 per cent a year or an annual income payment of 3.8 per cent a year. Income from the bond is paid net of basic-rate tax, which is not reclaimable by non-taxpayers and starting-rate taxpayers. Minimum investment is 5,000 and maximum is 250,000. Closing date is February 7.
An important issue in respect of the new A-Day legislation which still requires clarifi-cation is whether personal contributions in excess of an individual’s earnings to a registered pension scheme made after A-Day will count towards the annual allowance. According to the CII, personal contributions in excess of the greater of 3,600 gross and an indiv-idual’s […]
Peers working on the Compensation Bill are to meet Treasury Economic Secretary Ivan Lewis in a bid to persuade him that the FSA is the best body to regulate claim management firms rather than the Claims Standards Council, the Law Society or a new body. Tory peer Lord Hunt of Wirral says the amendments he […]
Britannic’s Burns Night celebration wins the Diary’s occasional (that is, annual) prize for the most aggressively Scottish party held in England. This may not sound too challenging but the firm went so far as to employ an over-zealous actor to dress as Robert Burns and slash into a 3ft haggis with a knife longer than […]
Guy Anker considers the entry of Deutsche Bank into the UK mortgage sector
Nearly 12 months since sweeping to power, prime minister Narendra Modi has overseen a significant turnaround in India, which is now on track to become one of the most pro-growth, pro-investment economies in Asia. While the market has rallied 48 per cent over the last year in response to Modi’s reform agenda, what is the potential for further progress?
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The rise in IHT takings has prompted complaints around the new residence nil rate band’s impact
The Association of Investment Companies will not be hosting the new key information documents on its website saying to do so would be irresponsible. Since 1 January, Priips legislation has meant advisers have to publish a stand-alone, standardised KID to their client including performance scenarios, risks, and the total cost of products. However, trade bodies […]
The Financial Services Compensation Scheme has paid out £5.7m so far to nearly 800 customers of collapsed discretionary fund manager Strand Capital. The payments were made to 796 investors over the past two weeks. The payments related to client cash only. The compensation was paid directly into customers’ self-invested personal pensions. An administrator’s report published in […]