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Apcims to lobby Brown on-line

The Association of Private Client Investment Managers and Stockbrokers is leading an online petition for the abolition of stamp duty on share transactions.

The association is lobbying Chancellor Gordon Brown to ditch the tax ahead of the March budget.

Apcims claims the arrival of a European free trade alliance on cross border selling in November will force UK companies to list on other European stock exchanges in order to avoid stamp duty on their shares.

Apcims head of information Brian Mairs says: “If companies decide to merge they face a massive stamp duty bill in the UK, but nothing in Frankfurt, for example. Also stamp duty is unfair to investors. Someone buying a &#39tax-free&#39 £7000 Isa will pay the Exchequer £35.”


Aifa wins £500 fee refund deal for frivolous claims

Aifa has agreed a system to allow IFAs to be refunded the £500 case fee for “frivilous cases” brought by their clients to the Financial Services Ombudsman.The news comes as the FSA, under pressure from Conservative shadow economic secretary Howard Flight and IFA representatives, has conceded changes to the pensions review guidance making it clear […]

LSE to end 200 years of mutuality

The London Stock Exchange is a step closer to ending nearly 200 years of mutuality.LSE has called a meeting for March 15 when shareholders with voting rights will be asked to approve demutualisation proposals.The plans need to win 75 per cent of the vote to allow dealing in LSE shares to start in May.City estimates […]

Investment bank rise on tech-stocks

Investment bank Close Brothers saw its first-half profit boosted by the surge in technology and smaller company stocks.Close said profits for the months to January 31 before tax and other costs would be more than double the same period last year, expecting to earn in excess of £72.5m compared with £33.2m in the previous year.Close […]

Pru axes endowments

Prudential is joining the ranks of life offices withdrawing endowment mortgages.The provider has around 300,000 endowment policyholders, but a recent drop in demand has forced it to join Nationwide, Halifax and Barclays and others in deserting the market.But Pru-owned Scottish Amicable will continue to sell endowments despite widespread reporting of potential return shortfalls.

Iain Chadwick

The Budget 2015: a brief overview

Following George Osborne’s delivery of his sixth Budget as chancellor and the last of this current parliament, we have provided a brief overview of the initiatives put forward in his statement, focusing on the topics that have an impact upon the pensions landscape, savings, personal taxation and businesses.


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