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Ifap launches tax savings campaign

Ifap has launched TaxAction 2004 – a campaign to increase awareness of the amount of wasted tax throughout the UK, which it says is around £128m.

The campaign aims to show how careful tax planning means that couples could save money by transferring their assets to low or non-taxpaying spouses. It says the amount of couples failing to do so has risen since 2003 by 47 per cent.

According to the research, the average deposit held by individuals in the UK is £10,602. If a higher rate taxpaying spouse transferred two thirds of this sum, £6,997, into their partner&#39s name – assuming the partner has no income currently and therefore no tax liability – and if this sum was then invested in an instant access account paying 3 per cent gross, the couple could make a gross saving of £84 a year.

Ifap chief executive David Elms says: “Visiting an IFA to assess your finances and discuss where you might save tax is hugely valuable, especially as the process of reducing the amount of tax you waste through asset transfer and other efforts, is often a very simple process.”


Virgin buys remaining stake in Virgin Money after £90m HHG deal

Virgin has bought the remaining 50 per cent share in Virgin Money Group, paying £90m for the joint venture it owned with HHG, the company comprising AMP&#39s former UK businesses. HHG will get £50m now plus instalments of £20m over two years for Virgin Money which offers stakeholder pensions, Isas, personal loans, savings accounts and […]

Miles of mortgages

Should equity release be seen as a product of last resort by consumers? Sadler: No. Price rises over the last 20 or so years – despite one severe downturn – have created an entire generation of equity-rich homeowners. Many are now opting to release some or part of their capital through equity-release schemes to improve […]


“No, absolutely not. Others have the facility to pass it on to the client and we have no such facility. In my view, it would be completely immoral.” James Goodwin Purcell White, James White & Partners “Certainly not. The way that things are moving at the moment,it feels as if we are being kicked while […]

Edinburgh Partners – European Opportunities Fund

Type: Oeic Aim: Growth by investing in Europe excluding the UK Minimum investment: Lump sum euros 10,000 Investment split: 100% in European equities excluding the UK Place of registration: Dublin Charges: Initial up to 5%, annual 1.25% Commission: Subject to negotiation Tel: 0131 270 5570


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