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HMRC withdraws approval for Oxford Technology VCTs after rule breach

HM Revenue & Customs has withdrawn venture capital trust approval for the Oxford Technology 3 VCT and the Oxford Technology 1VCT after they breached rules for holding more than 15 per cent of their funds in one firm. A London Stock Exchange ann-ouncement last week revealed that the company reported the breach to HMRC last […]

Steve Webb
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Annuities to get more expensive under Budget reforms, IFS warns

The Institute of Fiscal Studies says annuities will become even more expensive with more poor choices after the Government announced reforms to retirement income. In the Budget yesterday the Chancellor said all over-55s can take their pension pot in cash from next April and do not need to buy an annuity. Insurers’ share prices dropped […]

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