AMP has appointed a managing director for its UK financial services businesses to bring them all under the AMP umbrella. Tom Fraser joins AMP from CGNU, where he was managing director of European business. He was also NU International executive director. His role will be to turn AMP's UK financial services businesses, including Henderson Investors, […]
In a bid to boost pensioners' savings, Chancellor Gordon Brown announced pension credits will increase in line with earnings and not prices when they are introduced in 2003.Pensioners' tax allowances will also rise in line with wages and not prices.
The Inland Revenue has clarified the tax position for individuals transferring the benefits of a joint life insurance policy. Previously, if two unmarried individuals transferred the benefits of a joint policy between them, the transfer was taxable. With the clarification, the person transferring the ownership is liable for tax but only if they get an […]
Best Investment has slammed the Budget as “deeply disappointing for investors”. Deputy managing director Jason Hollands criticised Brown's decision to axe betting duty while leaving stamp duty on share trades.
Johnson Fleming has published a step-by-step guide demonstrating the importance of record keeping and reporting, and how it can ensure you operate a successful scheme. The guide takes you through some key questions you need to ask and identifies the information you need to obtain. The topics include: why you need to keep records and the benefits of doing this; registering your scheme; what information you need to record to ensure you meet the Pensions Regulator’s requirements; and what items need to be recorded and when.
One of the key thought leaders behind the Lifetime Isa has called on the government to reduce the charge imposed on early withdrawals so it does not act as a “penalty”. In his latest paper, Michael Johnson, a research fellow at the Centre for Policy Studies, also argues that the product should not carry an […]
Questions are being asked over the prior conduct of the interim chief executive of embattled manager GAM after it emerged that he was previously fired from another job over supervision failures. The FT reports that David Jacob, who took over from Alexander Friedman last month, was let go by Merrill Lynch Investment Managers in 2001 […]