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Positive Solutions makes a £7m loss

Positive Solutions has reported a loss of £7.4m for 2009 compared with a profit of £5.7m the previous year. It blames the loss on the downturn, a rise in regulatory fees and improvements to its governance and compliance controls. For more on this story, see www.moneymarketing.co.uk

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Govt to scrap child benefit for higher earners

The Government is to scrap child benefit for higher rate taxpayers from 2013. The cuts will affect households with one or more higher rate taxpayer but those households with more modest earners where the combined income is above £44,000 will keep the benefit. It is estimated around 1.2m families will be hit. At present, parents […]

Govt unlikely to sell bank stakes soon

The Government is likely to hold on to its stakes in Lloyds Banking Group and Royal Bank of Scotland until the banking commission publishes its report on how to shore up the banking sector. UK Financial Investments, which manages the government holdings in the banks, is  likely to hold onto its stakes due to the […]

Wine investors being misled over IHT

Investors are being misled over the inheritance tax benefits of buying into wine and could face “huge” unexpected bills from HMRC, a national accountancy has warned. UHY Hacker Young says wine is being touted as a tax planning tool, with wine investment firms saying its value for IHT purposes is based on the price it […]

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