“My dog ate my tax return… and all of the reminders”: The worst HMRC late return excuses of last year December 21, 2016 It’s that time of year again. HMRC, aka The Taxman, has published its annual list of the dodgy excuses for people filing their tax returns late. As well as some more elaborate stories, involving burning yachts, wasp attacks and naughty children, one person reverted to an old classic in 2014/15: “My dog ate my tax return…and [...]
With changes to buy-to-let and a falling Lifetime allowance, 2016 was the year when venture capital trusts and other alternative investments went mainstream December 21, 2016 When life gives you lemons, make lemonade, so the saying goes. This blend of optimism and pragmatism has been vital during 2016. And those qualities continue to serve the financial services industry well, given the rule changes that are keeping product providers, financial advisers – and investors – on their toes. Take the recent adjustments [...]
Should investors bulk up on bulk commodities ready for a bumper 2017? December 20, 2016 Resources firms were among the biggest victims when animal spirits were at their worst. Could they be among the biggest gainers now that fund managers have a spring in their step? Too much overcapacity, sluggish growth, debt piles, reduced dividends… Yes we’ve heard it all before. But 2016 has been another transition year for the [...]
It’s been a bumper year for stock markets – but how good was 2016 really? December 20, 2016 “Some investors have quipped that it took days for the markets to digest the UK referendum outcome, hours to come to terms with Donald Trump as President-Elect and minutes to assess Italian Prime Minister Matteo Renzi’s resignation,” Mark Haefele, global chief investment officer at UBS Wealth Management, told clients last week. It has been a [...]
Why you may be overcharged for underperforming actively managed funds December 19, 2016 Asset managers could be overcharging investors by £6.7bn a year for actively managed funds which underperform benchmark indices, according to a new study. Some £924bn is invested in actively managed funds in the UK, and 74.7 per cent of them perform worse than their respective benchmark indices, financial adviser Salisbury House Wealth has estimated. According [...]
Three become one: Experts welcome government’s pension advice simplification plans December 19, 2016 The government has revealed plans to overhaul its financial advice services, consolidating three bodies down into one. Under proposals released by the department for work and pensions, the Money Advice Service, the Pension Advice Service and Pension Wise will be replaced with a yet-to-be-named single new body. "This new single body will be a place people can [...]
What next for the FTSE 100? December 19, 2016 | City Talk The FTSE 100 largely brushed aside concerns over Brexit and the US election in 2016 to hit its highest ever level of 7,129.83. However, the index has struggled to maintain its momentum and push on from that record high reached in October. Here we take a look at why the index remains near record highs [...]
What next for the FTSE 100? December 19, 2016 | City Talk The FTSE 100 largely brushed aside concerns over Brexit and the US election in 2016 to hit its highest ever level of 7,129.83. However, the index has struggled to maintain its momentum and push on from that record high reached in October. Here we take a look at why the index remains near record [...]
Payments regulator sets out vision for industry-wide approach to protect consumers December 16, 2016 Financial regulators have promised to stamp out payment scams which have cost Britons hundreds of millions of pounds. The Payment Systems Regulator (PSR), a special branch of the Financial Conduct Authority that focuses on banking payments, said today the financial services sector needs to do more to protect consumers. "In a short space of time [...]
Chinese mega cities increase dominance in Schroders Global Cities 30 index December 15, 2016 | City Talk Fund manager Hugo Machin explains the trends behind the latest moves in the Schroders Global Cities index Chinese cities had a strong showing in the first Schroders Global Cities 30 index, launched in the summer. In the first update to the index, that dominance has only increased. Four of the top five spots are now [...]