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IFAs&#39 tax advantage almost wiped out

The Chancellor created a very favourable tax environment for small limited companies in his Budget.

I wonder if sole-trader IFAs like myself who now wish to re-register their businesses as limited companies are dismayed by the total time-wasting fiasco of having to re-apply from scratch to join the FSA, incurring another £2,000 fee which wipes out a sizeable chunk of the first year&#39s tax advantage?

Hilary Woodward

Dereham, Norfolk


Revenue says no charge for switch to New Star fund

The Inland Revenue is allowing investors in Rathbone&#39s special situations fund to switch without charge to Patrick Evershed&#39s new select opportunities fund at rival New Star.In a move the firms believe is unique, the Revenue is permitting Rathbone unitholders to keep their investment with manager Evershed – who recently left the company to join New […]

LIA elects new president

The LIA has announced Gavin Tisshaw will be its new president for the year which began May 2. Tisshaw, who is chairman of the Berkshire IFA Executive Advisory Services, was elected vice-president last year and automatically assumes the office of the president this year.At its annual conference in London last week, IFA Jonathan Battersby was […]

Rothschild Asset Management – Five Arrows Income Fund

Tuesday, 7 May 2002 Type: Oeic Aim: Income by investing in UK and European corporate bonds Minimum investment: Lump sum £1,000, monthly £50 Place of registration: Guernsey Investment split: AAA rated corporate bonds 20%, AA 30%, A 20%, BBB 30% Yield: 7.4% gross a year Isa link: No Charges: Initial A shares 3%, annual 1%. […]

Nationwide says housing market &#39not overheated&#39 despite record price rises

House prices are rising at a record rate, with the average home now costing £100,473 – £14,000 more than last year – according to the latest house price index from Nationwide.House prices went up by 3.4 per cent in April, says Nationwide. The annual increase is 16.5 per cent.However, the building society says the market […]


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