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Plea for windfalls rethink

An IFA is drafting in specialist law firm Armstrong Neal to pressurise the PIA into reconsidering whether windfalls can be taken into account against review liabilities.

The IFA, who cannot be named, wants the PIA to re-open the argument on discounting windfall shares against redresses resulting from the pension review or any potential endowment review.

The High Court has already ruled that windfalls should not be included as part of any review compensation payouts. But it is understood the adviser is seeking financial support from professional indemnity insurers to take the case forward. Armstrong Neal says if the adviser succeeds in forcing a reconsideration of review guidelines, it would reduce IFAs&#39 liabilities and have a knock-on effect on curbing soaring PI premiums.

Partner Gareth Fatchett says: “The burden PI insurers and underwriters have been put under in relation to this means they are quite properly forming the view clients cannot have their cake and eat it.”


Yorkshire Building Society – Fixed Rate Savings Bond

Monday, 16th October 2000.Type: Maxi or mini stocks and shares Isa linked to the FTSE 100 Index.Aim: Growth by investing in corporate bonds.Minimum-maximum investment: Maxi Isa – £500-£7,000 lump sum, mini Isa – £500-£3,000 lump sum.Investment choice: 100 per cent corporate bonds.Term: Five years.Guarantee: 100 per cent of original investment returned after five years and […]

VCT guides aimed at potential investors

Investment specialist Northern Venture Managers and IFA David Aaron Partnership have each prod- uced investor guides to ven-ture capital trusts.The NVM guide aims to give potential investors a straightforward explanation of the tax advantages of investing in a VCT and is presented in question and answer format.NVM recently announced the launch of the £20m Northern […]

Sun Bank – Stretch

Tuesday, 17th October 2000.Type: Discounted-rate flexible mortgage.Discounted term: Until March 31, 2001.Discount: 1.5 per cent.Payable rate: 5.49 per cent.Minimum loan: £25,001.Maximum loan: Up to 90 per cent of valuation subject to a maximum of £200,000, up to 75 per cent of valuation subject to a maximum of £500,000.Income multiples; 3.5 times principal income plus second […]

Fleming Asset Management – German Opportunities Fund

Tuesday, 17th October 2000.Type: Euro-denominated Sicav.Aim: Growth by investing mainly in German securities.Minimum investment: $5,000Place of registration: Luxemburg.Investment split: 25.1per cent electrical, 18.1 per cent utilities, 16.1 per cent insurance, 9.2 per cent retail, 8.3 per cent banks, 7.2 per cent chemicals, 5.7 per cent telecommunications, 3.9 per cent automobiles, 3.8 per cent paper, 1 […]

Powerful estate planning tools ignored or forgotten by wealthy Brits

Canada Life IHT Survey 2016 Only a quarter of wealthy Brits have sought professional estate planning advice to ensure their families don’t pay more tax than required More than a quarter don’t even have a will and just one in five have gifted money Many say they do not need these tools but families would […]


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