Retail Acquisitions may not have been fully aware of the BHS pension position when it first explored buying the retailer May 25, 2016 BHS' pensions fund trustees today told MPs that Retail Acquisitions may not have been fully aware of the pension scheme position when it began the process of buying the business. Speaking in front of the Work and Pensions committee and the Business, Innovation and Skills committee, Chris Martin, chair of the BHS Pension Fund Trustees, pointed [...]
Why long-term investors shouldn’t fear Brexit: Alarming projections have emerged about the impact of Britain leaving the EU on sterling, stocks and bonds. But there are reasons not to expect the worst May 25, 2016 You’d be forgiven for thinking the investment industry is united against Brexit. Accompanied by alarming forecasts about the impact of a Leave vote on sterling or the risk to various sectors of the UK economy, repeated reports have painted the referendum as a choice between emotion and reason, with Remain the only sensible option for [...]
Don’t blame the global slowdown for Brazil’s economic ruin May 25, 2016 If the diverging fortunes of Africa make it palpably clear that the Brics hysteria about the inevitable rise of most emerging markets is intellectual fool’s gold, what is going on in South America definitively drives a stake through the heart of that argument. For yesterday’s darling Brazil continues to fall off the table, just as [...]
How your pension could cost you £13,500 May 24, 2016 Those who haven't reviewed their pension contributions since a string of rule changes came into force earlier this year could find themselves facing a hefty tax bill, a London accountancy firm is warning today. Blick Rothenberg has cautioned that people who haven't altered the amount they are topping up their pension pot with since the annual allowance was lowered [...]
One in three people can’t make their pay last the whole month May 24, 2016 If you're already having to eke out the last vestiges of your April payday, you can rest assured you're not alone. Over a third of Britons, 34 per cent, fail to make their paycheck last the whole month, according to a new poll of nearly 1,000 people's spending and saving habits from Wizzcash. One of the major reasons [...]
The big squeeze: Should you consider VCTs as part of your retirement planning? May 24, 2016 A total of £429m of new money was raised by Venture Capital Trust (VCTs) managers in 2014-15 – the fourth highest yearly figure ever. Introduced back in 1995, these listed investment vehicles enable investors to access pooled funds of smaller, higher risk firms in a tax-efficient manner, while providing a crucial lifeline to fast-growing UK [...]
Before the bell: What you need to know before the US market open May 24, 2016 China is trying to smooth US trade ties after threats of a tax hike on imports from Republican presidential nominee Donald Trump and the European Commission could decide today whether to allow ABInBev to buy SABMiller. Here's what you need to know before the open at 2:30pm London time. In the pre-market futures are pointing up. The [...]
Despite paltry interest rates, annuities are making a comeback May 24, 2016 When pension freedoms were introduced last year, the over 55s were widely expected to shun annuities for more flexible forms of investment for their retirement. Long criticised for their poor value and rigidity, these financial products – which provide a guaranteed income for life – have looked even less attractive in recent years, as rates [...]
Performance vehicle: Five tips to get the most mileage from your Sipp May 24, 2016 Whether you’re a young saver prepared to take on more risk, or a retiree who doesn’t want to trade their nest egg for an annuity, self-invested personal pensions (Sipps) are tax-efficient vehicles which put you at the controls. Also known as DIY pension schemes, Sipps can be used to invest in any number of assets [...]
Cut capital gains tax with EIS investment May 24, 2016 Investors facing a capital gains tax bill have an opportunity to cut it down by investing in the UK’s early stage businesses. Chancellor George Osborne recently cut the rate of capital gains tax to 20 per cent, down from 28 per cent. It’s applicable in the current tax year, but anyone who made a capital gain [...]