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Technology tax break will get IFAs online

IFAs have been handed agolden opportunity to embrace the internet in the new online world of stakeholder pensions and funds.

The Chancellor has given smaller companies the chance to write off the first year&#39s costs of investing in technology.

IFAs have feared they could be left behind in the e-commerce revolution because of the costs of technology.

Announcing the move, Gordon Brown said: &#34For the next three years, any small business buying computers or investing in e-commerce and new information technology will be able to immediately write off against tax the full 100 per cent cost in the year of purchase.&#34

Informed Choice managing director Nick Bamford says: &#34It is very good news and a great opportunity as IFAs need to invest in technology to deal with the new products.&#34

Gartmore head of UK retail Lewis McNaught says: &#34It could be the first step to help IFAs start to trade electronically and is very positive with initiatives such as EMX starting to get off the ground.&#34

The Exchange communications director Nicola Mitchell says: &#34IFAs should take the opportunity to invest in the technology required to give them and their clients access to the vast opportunities of the online personal finance market.&#34


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