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Trustees banned for pushing transfers into high-risk investments

The directors of two pension trustee and administration firms have been banned from running any company for 21 years for their role in persuading unsophisticated investors to move to schemes backed by high-risk investments. Roger Bessent, Matthew Bessent, Neil O’Donnell and Tracy Park were directors of Preston-based Gleeson Bessent Trustees, which serviced a number of […]

Storm Castle Town Isle Of Man Weather UK 480
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Old Mutual International under fire for allowing high-risk investments in offshore wrapper

A claims manager is attempting to mount a class action against Old Mutual International for its role in allowing high-risk investments through an Isle of Man-based bond wrapper. Old Mutual International is an offshore life company providing open architecture portfolio bond wrappers through which investors, including expatriates, can invest in thousands of different funds. It […]

Tax avoiding freelancers targetted in latest HMRC push

HM Revenue and Customs has ordered £1bn in repayments from freelance workers who have hidden their real earnings using loan schemes, according to The Times. Freelancers ranging from IT staff to NHS locums are being pursued for the unpaid tax, the paper reports, after at least 20,000 contractors had been found by the taxman to […]

CGT entrepreneurs' relief

Entrepreneurs’ relief is due, subject to meeting certain conditions, in respect of capital gains arising on ‘material disposals of business assets’. These ‘business assets’ include: Read more

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