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SHIP warns of confusion over taxation of home reversion

Professional standards body Safe Home Income Plans says reports in the press of a heavy tax on income from home reversion plans may be misleading. SHIP believes the Government legislation on pre-owned asset tax is not intended to penalise elderly people. The body is currently in talks with the Inland Revenue to discuss the exemption of home reversion plans from schedule 15 of the Finance Act and is confident the issue will be resolved in favour of reversion policyholders.

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Compensation schemes such as the Financial Services Compensation Scheme are based on a recognised principle that the majority pay for the failures of the minority, thereby reducing the impact of a failure on individuals. The existence of the FSCS helps to satisfy the FSA&#39s sta-tutory objectives of maintaining confidence in the sector and providing protection […]

Buy-to-let landlords see rise in July returns after first-half dip

Returns for buy-to-let landlords on their initial investments rose in July after a dip in the first half of the year, according to Paragon Mortgage&#39s August index. Average returns on initial investment rose from 24.7 per cent in June to 25.2 per cent in July. The increase follows significantly higher returns in a number of […]

Buy-to-let growth slows in first half

The growth in buy-to-let lending slowed in the first half of this year as lenders react to tighter market conditions according to the Council of Mortgage Lenders. Advances rose by 3 per cent to £12bn in the first half from £11.6bn in the second half of 2003 and £7.6bn for the first half of 2003. […]

Cancer charity says firms misleading public on PMI

Private medical insurance providers are misleading consumers about the extent of cancer care they offer and could face a wave of misselling claims, says a leading cancer charity. Charity Cancer BACUP wants clearer information from providers on PMI policies to make consumers aware that the policy they are buying may not cover them throughout the […]

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