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L&G axes withdrawal charges

Legal & General has redrawn the terms and conditions on its unit trust range, axing many of its withdrawal charges and introducing monthly savings plans.

All L&G index unit trusts, as well as the fixed interest trust, high income trust and ethical trust will have their 1 per cent withdrawal fee removed from July 31.

While all unit trusts will now be eligible for a new monthly savings scheme, with a minimum contribution of just £25. The minimum lump sum investment has also been reduced to £500 from £1,000.

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CML warns repossessions may rise

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Case study: administration — implementing a management log

Our client is a leading video game and publishing company best known for its console role-playing game franchises. The client provides a number of benefits, at varying levels and cost that attract a P11d liability. With the absence of a management log to track data for benefit movements, enormous administrative and therefore cost implications were occurring each year just to comply with P11d reporting requirements.

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