Overnight Libor kept steady at 2.99 per cent while three-month Libor dropped for another day to 3.94 per cent, leaving it only 94 basis points above Bank base rate.
The FSA says advisers may be required to set up trusts to pay for any potential claims that arise after they have left the industry.
The rise in income tax to 45 per cent for people earning over £150,000 has been hailed as a positive move for pensions.
For those who wanted a political choice, you have it. The Government has opted for borrowing, tax cuts now, particularly for the less well-off and tax increases after the next election for the rich.
The Association of Private Client Investment Managers and Stockbrokers has welcomed the Government’s emergency measures to boost the economy, but is critical of the lack of stamp duty relief.
Royal London carried out a UK wide survey with 2,500 consumers age 35-44 over the summer. The survey found that over a third, 34 per cent, said their finances felt Squeezed and so were struggling to meet day-to-day expenses, despite 87 per cent being aware that they need to save more. However, the survey did […]
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Another investment manager offering enterprise investment schemes has alerted clients of a 10 per cent drop in value for one of its portfolios following new Mifid rules. Mifid II, which came into force on 3 January, requires firms to notify clients when the overall value of their portfolio, relative to its value at the beginning of each reporting […]
The recent enquiry by the work and pensions select committee has reignited the debate about the future of collective defined contribution schemes. Whether these sort of schemes can be incorporated into the current UK pensions landscape is a moot point. Let’s consider some of the arguments for and against CDC. First of all, it is […]
Retirement interest-only mortgages are set to become more popular following the FCA removing hurdles to selling them. The regulator sees RIO mortgages as a possible aid to the waves of maturing interest-only loans with no repayment strategy. However, the FCA also wants RIO mortgages to be sold more widely, for example as an additional option […]