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Towry Law offers free Isa tax advice

Towry Law is offering a free factsheet to help people understand the new tax rules surrounding Isas and Peps.

The guide, “Isas – Peps Tax Changes”, covers a range of issues to help clients understand Chancellor Gordon Brown&#39s changes to tax rules. It also contains a table of scenarios to help consumers identify their circumstances and how the new rules will impact on them, along with an explanation of taxation rules.

Towry Law product research manager Simon Farrant says: “One rule in particular awaits investors holding unit trusts or Oeics invested in so called mixed funds, which hold over less than 60 per cent of their assets in fixed interest securities. The regulation leaves a trail of complex rules which could see the investor lose some of the tax benefits of these ISAs. A simple solution is outlined to help investors avoid this tax trap.”


Clerical&#39s PI plan is thwarted by EU directive

Clerical Medical&#39s plan to offer a professional indemnity insurance solution to IFAs has been torpedoed by the EU directive that outlaws self-insurance. The company had been in talks with the FSA over an intermediary PI proposal based on IFAs self-insuring but now says that the European insurance mediation directive coming in next January means the […]

Chancellor&#39s scheme will not impress SMEs- Lib Dems

Liberal Democrat small business spokesman Brian Cotter has hit out at Chancellor Gordon Brown&#39s latest scheme to encourage SMEs to access finance through a new US-style funding programme. Cotter says this scheme will not mask the problems faced by small businesses being &#39strangled&#39 by Labour red tape and changes to the tax system.

Alliance & Leicester makes tracks

ALLIANCE & LEICESTER 10 Year Base Rate Tracker &#45 Standard Package Type:Tracker mortgage Tracker term: 10 years Tracker rate: 0.99% above Bank of England base rate Payable rate: 5.24% Minimum loan: £25,000 Maximum loan: Up to 95% of valuation subject to a maximum of £250,000, up to 90% of valuation subject to a maximum of […]

Exclusive Connections – Ten to Let

Type: Flexible buy-to-let tracker mortgage Tracker term: Lifetime of loan Tracker rate:1.6% above Bank of England base rate Payable rate: 5.85% Minimum loan: £1 Maximum loan: Up to 85% of valuation subject to a maximum of £1m, up to 80% of valuation subject to a maximum of £2m, up to 75% of valuation subject to […]

Inheritance Tax, a tax on the wealthy? Urban myth or fact?

By Kim Jarvis, Technical Manager with Canada Life’s ican Technical Services Team. Inheritance tax has been around in some form since 1796. Estate duty dates back to 1894 and over the years this tax has evolved into the inheritance tax (IHT) we know and love today, which was introduced in 1986 as a replacement for […]


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