A tax consultant has been jailed for four years for a pension unlocking scam that transferred £16.5m from an occupational scheme. Anil Kumar of The Broadway, Letchworth, Hertfordshire was found guilty of cheating the public revenue of £5.5m tax through the scam that earned him and his partner Peter Rumball £2m in commission between 1997 and 2000. A warrant for arrest is outstanding on Rumball who left the UK for the Philippines in 2001.
Funding of UK healthcare is skewed towards the public sector, according to ABI head of health Richard Walsh. Walsh told last week's Developing Next Generation Protection & Health Insurance Products conference that more private healthcare would increase patient choice, reduce waiting times and improve overall standards of care to enable the UK to compare well […]
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 […]
An invitation to a gala dinner from The Compliance Register, the international organisation for compliance managers, started a rumour that FSA supremo John Tiner could be leading the after-dinner entertainment. A circular promises live music from The Deadbeats, starring Credit Suisse Asset Management's Bob White on lead guitar and a mysterious Mr T from the […]
As someone who has survived the chore of a quarterly VAT return for over five years, I still recall the pain of being subject to a formal VAT visit. The visit came about after I asked the local VAT office about how a particular purchase from another EU country should be handled. Its advice was […]
Kunal Desai, Head of Indian Equities, discusses his expectations for the Indian market and highlights the key indicators that he is watching for 2015.
In the video, Kunal addresses:
• Indian equity valuations and the importance of stock selection in gaining exposure to the earnings upgrade cycle
• The BJP’s strengthening ambition in its pro-reform, pro-investment agenda
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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 […]