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Revenue urges public to recover tax on savings

Up to 4 million people could benefit from an Inland Revenue initiative to encourage savers to claim tax back on their savings.

Over the last few months more than 7.3 million tax has been repaid to more than 21,000 pensioners.

Some people on higher incomes will be able to claim back tax that has been deducted from their savings, for example, if they are entitled to the married couples allowance.

Paymaster General Dawn Primarolo says: Up to 300 million could be waiting to be claimed so it is vital that anyone who thinks they might be eligible contacts the Inland Revenue.


£795k cost of BBB failed merger

Berkeley Berry Birch spent £795,000 on adviser fees for its failed merger with Inter-Alliance. The figure appears in its interim results for the year to March 31. The merger was announced in January but fell apart in May.

DB firms foresee funding problems

More than three-quarters of employers with final-salary pensions expect to face future funding difficulties, according to the NAPF’s latest annual survey.

Ten per cent of private sector final-salary schemes closed to new members in 2004 compared with 26 per cent in 2003 and 19 per cent in 2002.


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