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Stonebanks nears target

A second attack against Standard Life&#39s mutual status looks imminent with carpetbagger David Stonebanks announcing he has collected 1506 request forms to hold a special general meeting to vote on demutualisation. Stonebanks has written to company secretary Marcia Campbell saying he expects to meet his target of 2000 forms within a month.

He believes holding the special general meeting at the same time is the upcoming annual general meeting would save £2m and has requested Standard Life continue to accept request forms for another month if the 1,000 valid forms he needs are not amongst those he has already collected, in order to meet the impending deadline set to hold the meetings together.


Net dividend

Last week, I started to look at the seasonal subject of how best to extract funds from a private company with minimum payment to the authorities. I have already looked at the criteria and formalities for payment, including the payment of interim dividends. This week, I would like to look at the more well-known financial […]

Norwich Union – Fixed Income Plan 4

Type: Capital-protected bond Aim: Income linked to the FTSE 100 index Minimum-maximum investment: £3,000-no maximum, Isa £3,000-£7,000 Term: Five years Guarantee: Original capital returned in full provided the FTSE 100 does not fall by more than 30% and returns to at least its starting level Return: 0.44% income a month, 5.65% income a year, 31.28% […]

Modernisation or stealth taxation?

The Pre-Budget report has created an opportunity for you to contact your trustee clients to update them on the potentially significant changes to trust taxation of income and capital gains.In paragraph 5.93 of the Pre-Budget report, the Chancellor recognises that “trusts have a positive role to play in assisting people to manage their tax affairs […]

Aifa cautions Jifa on impossible aims

Aifa is telling fledgling IFA organisation Justice for IFAs that it may be trying to achieve the unachievable in its bid for a new definition of misselling through the European Court.Director general Paul Smee rejects comments from Justice for IFA head and Sway chief executive Jon Maguire that Aifa and the LIA have presided over […]

HMRC helping to remove artificial gains

An investment bond offers investors certain tax advantages, one of which is the ability to take partial surrenders from the investment. This facility allows the policyholder to withdraw amounts up to 5% of the amount invested each policy year on a tax deferred basis, without incurring any immediate tax liability. This tax deferred allowance can […]


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