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Halifax urging savers to use tax allowances

Halifax is urging savers to avoid the taxman this Christmas by using up their various allowances.

The bank says savers should remember to use up their £7,000 Isa allowance for liquid savings and make use of the tax relief available on pension contributions.

It says single people with children should also ensure they are receiving the extra allowance which reduces their tax bill by up to £529 each year per child.

Finally, Halifax says Christmas shoppers buying presents should stick to books as they are exempt from VAT, which stands at 17.5 per cent.


Euro rule gets my vote over the FSA

So, execution-only sales could disappear and Hargreaves Lansdown is spitting its dummy out in righteous indignation (Money Marketing, November 21).The FSA says it will argue against this as “it does not take home market models into account”. The pre-CP121 polarised UK market was initially attacked by the FSA on the basis that it was different […]

Singapore firm set for UK retail fund market

Singapore-based fund manager APS Asset Management is entering into the UK retail market in the first quarter of next year with the launch of an Asian equities growth fund.The APS growth fund, which is currently domiciled in Dublin with two sub-funds, the Far East growth fund and the Japan growth fund, will be rolled out […]

&#39Regulation could finish small firms&#39

The Council of Mortgage Lenders says FSA mortgage regulation could drive out smaller intermediaries and lenders as bigger players club together to cope with higher compliance costs.At the CML annual conference in London last week, senior policy adviser Kate Main said she fears CP146 proposals mean smaller firms will be unable to compete and consumer […]

Pensioners can pass on annuities but will pay 35% tax

Pensioners can pass on the value of their annuity to dependants upon death until age 75, according to proposals in the Government&#39s Pensions Green Paper.But before any money is passed on, it will be hit by a 35 per cent tax, a level set far too high, according to IFAs, who say the figure is […]


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