View more on these topics

DTI confirms changes to UK company law exempting split -caps

The DTI confirms the Government is making changes to UK company law from October 1 protecting investors from new accounting standards threatening to hit their incomes.

The revisions will ensure that split capital investment trust shares will not be treated as liabilities for the purposes of investment company legislation.

The Association of Investment Trust Companies says if not for its intervention with the DTI on this scheme, 33 investment trusts could have been prevented from paying dividends whilst have come perilously close.

AITC director general Daniel Godfrey says: “We are very pleased that the DTI acted so swiftly and decisively to resolve this issue.

“They were quick to accept that there was a problem, and agreed to include the issue in a planned consultation proposing changes to company law. The necessary regulations have now been laid before Parliament.

“Without these measures there could have been very serious consequences for the significant number of trusts concerned.


Jupiter opens staff fund to public

Jupiter is to open its staff investment funds to the public under the name Merlin Balanced, aligning it with its three other Merlin vehicles which are managed by John Chatfeild-Roberts.

Revenue warning offshore investors

Revenue and Customs has written to hundreds of offshore clients warning them against attempted tax evasion and pointing to IFAs’ responsib- ilities. The letters, sent out to 500 clients, say offshore customers should review their tax situ-ations carefully before sub- mitting their self-assessment tax forms. The recipients of the letters have 30 days to confirm […]

Pearl puts on equity weight

Pearl Assurance is nearly doubling the proportion of equ- ity and property investment in its with-profits policyhol- der fund from 25 to 45 per cent. The change is aimed at improving longer-term performance and Pearl says it is unlikely to affect its bonuses in the short term. Pearl, acquired in April by Life Company Investor […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment