Shares in internet company Freecom shot up on the companies debut on the Alternative Investment Market (Aim). Trade opened at 138 per cent premium on the initial public offering price – at 310p compared to the 130p initial offering. Freecom designs e-commerce packages for small and medium-sized firms. Share dealers speculate internet stocks are in for a mini-boom.
The Inland Revenue is set to get new powers that will force banks, accountants and lawyers to hand over papers in serious fraud cases.The new measures are to be included in next year's finance bill.They are expected to reduce the need to enter and search premises for evidence.
Reliance Mutual is on the brink of insolvency according to a top industry analyst.The small life office was forced to shut its doors to new life and pensions business last week because of the cost of pensions misselling.And the same misselling liability, which is set to grow further into “tens of millions” could place such […]
oftware giant Misys is poised to dip into its £50m war chest to scoop M&E Network and Interdependence in a £25m deal.Misys, which already owns 900-member Countrywide and splashed out £55m in August for IFA networks Financial Options and Kestrel, is understood to be mounting a £25m buy-out bid for the two Greatminster Group-owned networks.Money […]
Flexible Cash Release PlanType: Equity release scheme aimed at the over 60s.Minimum property value: £60,000.Minimum-maximum loan: Minimum of £10,000, subject to a minimum of 10% of the property value. Maximum of £500,000, subject to a maximum of 45% of the property value.Interest rate: 7.85%.Minimum-maximum age: Minimum 60, no maximum.Charges: Valuation fee £165 minimum. Application fee […]
By Jamie Clark, Business Development Manager, Royal London Recent articles in the media have raised concerns about the new pension freedoms. One perceived problem is that across the industry, trustees and providers are not necessarily allowing people to take full advantage of the pension freedoms in situ. This is backed up by a recent survey by […]
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The Financial Ombudsman Service will be reviewed by an independent person following claims of poor staff training and alleged biases in its decisions that were exposed in a recent Channel 4 investigation. Treasury Committee chair Nicky Morgan wrote to FOS chief executive Caroline Wayman on 13 March asking for more information about the findings of […]
There are numerous trip hazards with carry forward but more clients will want to be looking at it Many believe the annual allowance will be fair game for the chancellor soon, as one of the least painful and least complex reductions in cost to the Treasury. As such, the need to contribute while clients can and […]
The world is a challenging place for a traditional one-man (or -woman) band Increased regulation and rising costs are leading to a growing number of mid-sized adviser firms. Sole trader and two-handed businesses are becoming rarer as changing rules and client demands present a greater challenge for smaller firms. Between compliance, technology and the implementation […]