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IFA in online campaign for Isa review

IFA Torquil Clark is teaming up with financial services website UK-invest to campaign for a Government review of Isas.

The firms plan to send the results of an online questionnaire to the Treasury towards the end of the month.

The survey asks online investors to voice their opinions on Isas and assess their success in comparison with Peps and Tessas.

Chancellor Gordon Brown promised a review of Isas in his March Budget but there has been no further announcement.

Torquil Clark head of e-commerce Mike Attree says Isas could be simplified by ditching mini and maxi Isas in favour of a single product. He says: “Isas are pretty complicated and we would like to see them simplified. They are an improvement on Peps and Tessas but by combining those two they have made it more complicated.”

UK-invest managing editor Alicia Wyllie says: “Labour promised that Isas would revolutionise savings in Britain and encourage people to save for their own financial futures. If this hasn&#39t happened, we would like to encourage politicians to make the necessary changes to turn Isas into a real success story.”


Leeds & Holbeck introduces two new mini cash Isas

Leeds & Holbeck Building Society is introducing two new mini cash Isas for customers with very different ideas of risk.The tracker Isa is aimed at the cautious investor and will track the Bank of England base rate for three years.The FTSE Isa, on the other hand, is for the more adventurous investor. This will give […]

ScotProv says IFAs must change ways

Scottish Provident says advisers must change their attitudes to the protection sector if they are to keep their competitive edge in the marketplace.With new products such as stakeholder, Isas and the controversy surrounding endowments, IFAs&#39 profit margins are steadily decreasing.ScotProv believes independents will be forced to look again at the protect-ion market.The life office is […]

FTSE bosses average more than a £1m a year survey says

More than a third of FTSE-100 chief executives are paid in excess of £1m a year a survey conducted by Hay Management Consultants shows. The sort of pay package received by Barclays chief executive Matt Barrett is becoming the norm. Barrett earned £1.3m for three months&#39 work this year. However, British executives are still paid […]

Causes for complaint

How do you account for the continuous rise in the number of complaints that you are dealing with?These days, people have higher expectations of the way business is done and stand-ards themselves have risen.In addition, every now and again, something happens, such as the endowment letters currently going out, which has significantly increased the number […]

What triggers the MPAA?

Jim Grant – Senior Product Insight & Technical Support Analyst There’s sometimes confusion around what triggers the money purchase annual allowance. Find out what does and what doesn’t trigger the MPAA. The money purchase annual allowance (MPAA) is a reduced annual allowance that can apply to contributions to defined contribution (DC) schemes. The following table […]


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