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BUDGET 2008 NEWS: Ken Livingstone to benefit from Darling’s tax relief if he loses Mayoral race

Mayor of London Ken Livingstone will benefit from today’s Budget if he loses the mayoral election due to Chancellor Alistair Darling’s introduction of a tax exemption.

Buried in the small print of the Budget, legislation will come into effect this April to ensure attractive severance payments to members of the Greater London Authority and the Mayor of London.

This will mean tax exemption up to the first £30,000 for the GLA and Livingstone under the new GLA severance pay scheme.

MacIntyre Hudson tax principal Nigel May says: “As Ken battles against Boris Johnson in his bid for a third term as Mayor, he can at least draw comfort that should the struggle end in defeat, he will have a hefty tax-free lump sum with which to console himself.”


Duffy made redundant after just five months at Sterling

Robert Sterling managing director Kevin Duffy has been made redundant after only five months at the firm.Lexicon Surveying Services managing director Mark Glithero has also been made redundant from parent group Lexicon.Duffy joined Robert Sterling last October and was responsible for increasing the total of 150 advisers. He was previ-ously managing director at Hamptons Mortgages.Duffy […]

The greenhouse effect

It has not always been cool to be green. Most fund firms used to scoff at green investing. There used to be just a smattering of funds for the ethically conscious investor but now we have more than 50.

Stellar returns for F&C investment trust

Foreign and Colonial investment trust has announced a rise of 13.6 per cent in net asset value as part of its 2007 resultsThe 140 year old trust also announced a 10.4 per cent rise in annual dividends per share to 5.85p and a 12 per cent increase in share price to 318.75p.Chairman Mark Loveday says […]

BUDGET WISH LIST: Syndaxi’s Robert Reid wants IHT left alone

Syndaxi Financial Planning managing director Robert Reid is hoping inheritance tax rules will be left alone, with Chancellor Alistair Darling allowing the regime to settle down.He also hopes there will be no change to the annual allowance for pension contributions. Reid says: “I am mainly hoping that it will be integrated in some way, rather […]


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