View more on these topics

FSCS set for claims as Moorgate House IFA goes into liquidation

Building society chief executives have presented over 22,000 signatures to the Chancellor in support of the national Raise the Roof stamp duty campaign to lift the stamp duty threshold from 60,000 to 150,000.

Pictured outside No 11 Downing Street, left to right, are: Tony Carroll, Black Country Chamber of Commerce; Andrew Messenger, chief executive, West Bromwich BS; Rob Cairns, chief executive,Furness BS; David Webster, chief executive, Hanley BS; Peter Bolton King, chief executive, National Association of Estate Agents and John Whayman, chief executive, Ipswich BS.

Accountancy firm MacIntyre Hudson has seen its Moorgate House IFA arm put into liquidation 18 months after selling its assets to Carrwood Barker.

The IFA arm MHMH and execution-only firm MHID of Moorgate House went into provisional liquidation on December 20, 2004, leaving misselling cases which could fall on the Financial Services Compensation Scheme.

BDO Stoy Hayward has been appointed as liquidator and is assessing the liabilities of the accountant’s IFA arm which in 2002 had 280m assets under advice and employed a staff of 125. The liquidator confirms the FSCS is involved and it is working closely with the scheme which is expected to have to pay out.

Manchester IFA Carrwood Barker acquired the assets of the IFA for an undisclosed sum in September 2003 without acquiring any liabilities, forming a new firm called Carrwood Moorgate.

MacIntyre Hudson would not comment.

BDO Stoy Hayward partner Paul Keeley says: “We are quantifying the liabilities. Given the volume of business, you would expect a certain number of misselling issues.”


Charcol urges Chancellor to overhaul stamp duty and IHT

Charcol is urging the Chancellor to amend the “antiquated” rules governing stamp duty in his Budget statement on March 16. The broker also claims that the misery caused by inheritance tax limit is unacceptable, given that property prices have soared over the last few years, leaving many homeowners, particularly in the south of England, beyond […]

Yield of dreams

Our panel discuss whether the size of some equity income funds is hindering performance and the problems of delivering yield.

Health - thumbnail

Fit for Work: guidance for employers published

On Friday, the Department for Work and Pensions published its guidance for employers on using the new Fit for Work (FfW) service to help ill employees return to the workplace. It also includes more details on the tax exemption for medical interventions that commenced on 1 January 2015.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm