Higher-rate taxpayers will face a tax rise of 2 per cent on encashment of life investment products next year after changes to the taxation of life investment bonds in last week's Budget. The underlying life fund will be taxed at 20 per cent rather than 22 per cent, leaving the higher-rate taxpayers facing tax bills of 20 per cent, the difference between the underlying rate and the 40 per cent higher rate, instead of 18 per cent as was previously the case on maturity.
Sales figures from IFA fund supermarket Cofunds show that income-seeking funds were by far the most popular choice in the recently closed Isa season. The number of incomeseeking funds in Cofunds' top 20 best sellers has more than doubled this year and represents 16 funds from seven in the previous season. No smaller company, European […]
This has got to stop. Once you get that face in your head, you can't get rid of it. Diary readers seem to be seeing Money Marketing contributor Tony Wickenden wherever they look. The latest in the “Looks like Tony Wickenden” series in the pre-Robert Pires facial hair stage is this one sent in by […]
Abbey National's specialist pensions administrator James Hay Pension Trustees has seen a 29 per cent rise in its corporate business for the first quarter.
Like a lot of investment, traded endowment policies look simple on the surface. Either as a tax-efficient savings vehicle or a low-risk investment, Teps are useful for many medium to long-term needs, including retirement. But they may not be as simple and efficient as they seem. Towry Law product research manager Simon Farrant thinks buying […]
Loomis Sayles’ Macro Analyst, Craig Burelle, discusses the key takeaways for bond markets during Q3 2016 and looks at the outlook for global growth and inflation. Click here
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The Treasury select committee has published an internal memo in which staff at Royal Bank of Scotland were told to let struggling businesses “hang themselves” in the wake of the financial crisis. Staff at the now defunct RBS Global Restructuring Group listed in a document written in 2009 a number of tips to leverage fees […]
Newly-merged adviser trade body Pimfa is calling for the FCA to change how it plans to calculate the Financial Services Compensation Scheme levy, to take discretionary fund managers out of its remit. The FCA’s consultation on FSCS funding reform said all firms falling under its investment provision funding group are classiffied as product providers and […]
Who holds the power when advisers make investment decisions?