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B & B offers £1,000 windfalls

Bradford & Bingley Building Society members will receive shares worth about £1,000 when the society converts to a bank.

But the society has opted for a flat-rate payment scheme, in which all eligible members will receive the same windfall.

The exact payment will depend on the company&#39s value at the time of conversion.

To be eligible, savers must have had at least £100 in their account on April 25 this year, and £100 in the account when the society converts next year.

They must also hold £100 in their account between now and then at a date yet to be specified.

Conversion is still subject to a members&#39 vote next summer.


Federation of Small Business calls for retention of carry-forward and carry-back

The Federation of Small Business is calling on the Inland Revenue to retain carry forward and carry back provisions in personal and stakeholder pensions.The Federation says it has countered the Inland Revenue&#39s arguments for simplicity with the need for flexibility.The Revenue argues that representations from pension providers intimated the carry-forward provisions were complex and difficult […]

Sofa launches &#39Find an Adviser&#39

Sofa has launched an on-line service to help consumers locate professionally qualified and specialist IFAs.The &#39Find an Adviser&#39 web site gives customers access to over 650 IFAs, who must have a minimum qualification of the Advanced Financial Planning Certificate.Searches for advisers can be carried out by postcode, town or name.Further selections allows customers to locate […]

Legal & General launch 5.5 per cent pensions account for trustees

Legal & General Bank has launched a Pensions Account for Trustees. The account pays 5.5 per cent gross / AER for balances of £500,000 and above.The account is aimed at administrators and trustees of Small Self-Administered Schemes and Self Invested Personal Pensions who are looking for easy access on cash deposits within their pension funds.

Royal Commission healthcare proposals

The Co-operative Insurance Society claims Isas are a great success. CIS says 85 per cent of its regular Pep savers have converted to Isas, and 75 per cent of life Isa account holders have never held a Pep or Tessa.CIS general manager marketing Martin Clarke says: “The survey shows Isas are proving a success contrary […]

Who pays inheritance tax and how to declare it

By Kim Jarvis, Canada Life In this article we look at which forms personal representatives (PRs) need to complete and who actually pays inheritance tax (IHT).  To recap, under current rules, any part of the estate that falls within the available nil-rate band (NRB), currently £325,000, is taxed at zero. Anything in excess of the NRB […]


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