Wednesday, 10 March 2010
[Blog] Budget Day Announced: Alistair Darling and the Treasury have confirmed that the date of the budget is to be the 24th March.
The Chancellor will hopefully provide the... http://ping.fm/wi6GN
The Chancellor will hopefully provide the... http://ping.fm/wi6GN
Budget Day Announced
(My Original Blog Post: http://ping.fm/WpsOr)
Alistair Darling and the Treasury have confirmed that the date of the budget is to be the 24th March.
The Chancellor will hopefully provide the UK with details on how Britain’s £178 billion deficit will be tackled. He is due to make a speech on the economy today.
The Budget date makes it more likely that the general election will happen on the 6 May. Council Polls are also to take place on this date.
A detailed Budget summary will appear on our site www.consilium-ifa.co.uk
Alistair Darling and the Treasury have confirmed that the date of the budget is to be the 24th March.
The Chancellor will hopefully provide the UK with details on how Britain’s £178 billion deficit will be tackled. He is due to make a speech on the economy today.
The Budget date makes it more likely that the general election will happen on the 6 May. Council Polls are also to take place on this date.
A detailed Budget summary will appear on our site www.consilium-ifa.co.uk
Monday, 8 March 2010
Not long till the end of the isa season
(My Original Blog Post: http://ping.fm/07Nri)
Considering making an isa investment for the current tax year.
Our ISA guide is available free to download here.
Considering making an isa investment for the current tax year.
Our ISA guide is available free to download here.
[Blog] Not long till the end of the isa season: Considering making an isa investment for the current tax year.
Our ISA guide is available free to download here. http://ping.fm/TzSN1
Our ISA guide is available free to download here. http://ping.fm/TzSN1
[Blog] Not long till the end of the isa season: Considering making an isa investment for the current tax year.
O... http://ping.fm/LKMrY
O... http://ping.fm/LKMrY
[Blog] Stroud and Swindon Merger: Coventry Building Society has held talks with Stroud & Swindon over a possible merger.
Both Societies are mutuals. A merger between Co... http://ping.fm/Me1xf
Both Societies are mutuals. A merger between Co... http://ping.fm/Me1xf
Stroud and Swindon Merger
(My Original Blog Post: http://ping.fm/zC0TL)
Coventry Building Society has held talks with Stroud & Swindon over a possible merger.
Both Societies are mutuals. A merger between Coventry,which is the third largest building society in the UK, and Stroud and Swindon , which is much smaller rival will create an organisation with £21 billion of assets and 1.2 million customers.
Stroud and Swindon have confirmed that talks are at a very early stage.
Stroud has £3 billion in assets with 265,000 members.
Coventry have recently reported pre-tax profits of £56.2 million.
Consilium Asset Management are Financial Advisers based in Bristol
Coventry Building Society has held talks with Stroud & Swindon over a possible merger.
Both Societies are mutuals. A merger between Coventry,which is the third largest building society in the UK, and Stroud and Swindon , which is much smaller rival will create an organisation with £21 billion of assets and 1.2 million customers.
Stroud and Swindon have confirmed that talks are at a very early stage.
Stroud has £3 billion in assets with 265,000 members.
Coventry have recently reported pre-tax profits of £56.2 million.
Consilium Asset Management are Financial Advisers based in Bristol
[Blog] Stroud and Swindon Merger: Coventry Building Society has held talks with Stroud & Swindon over a possibl... http://ping.fm/YmZ4u
Tuesday, 2 March 2010
NEST - What is it?
(My Original Blog Post: http://ping.fm/31peY)
The Personal Accounts Delivery Authority (Pada) confirmed which company is to administer the new NEST Scheme (formerly Personal accounts).
PADA confirmed that Tata Consultancy Services (TCS) will provide the administration of the scheme when it is launched. Pada will sign a contract with TCS later this month.
The NEST will force employers to contribute to a pension arrangement on behalf of their employees. Employees will also be required to contribute.
Employers will either automatically enrol employees into the scheme or provide an alternative arrangement that meets certain criteria.
To find out more about pension advice and employers responsibility when the Nest scheme is launched click on the links.
Angela Eagle, minister of state for pensions, said: 'Together with automatic enrolment, Nest will help millions of people save for their retirement, with a guaranteed employer and Government contribution.'
The Personal Accounts Delivery Authority (Pada) confirmed which company is to administer the new NEST Scheme (formerly Personal accounts).
PADA confirmed that Tata Consultancy Services (TCS) will provide the administration of the scheme when it is launched. Pada will sign a contract with TCS later this month.
The NEST will force employers to contribute to a pension arrangement on behalf of their employees. Employees will also be required to contribute.
Employers will either automatically enrol employees into the scheme or provide an alternative arrangement that meets certain criteria.
To find out more about pension advice and employers responsibility when the Nest scheme is launched click on the links.
Angela Eagle, minister of state for pensions, said: 'Together with automatic enrolment, Nest will help millions of people save for their retirement, with a guaranteed employer and Government contribution.'
Monday, 1 March 2010
Pru clinches mega deal
(My Original Blog Post: http://ping.fm/u0Grg)
Prudential, the UK life insurer, has agreed to buy the Asian operations of AIG. An agreed price of $35.5bn in cash and shares makes it one of the largest deals in UK history.
The deal combines the largest insurance businesses in Asia. The deal doubles the size of Prudential and will make the region a key contributor to profits within the group.
The deal will be structured as an acquisition of both Prudential and AIA by a new company, to be known initially as New Prudential.
It is reported that Prudential will pay $25bn in cash and 10.5bn in shares of the enlarged company. The company headquarters will be in the UK and will be listed on the UK Stock Exchange. It is also anticipated that the company will also be listed on the US stockmarkets
AIG has planned a partial floatation of the Asian part of the group, but shelved the idea in preference to the deal with the Pru.
“I think that transformational is an overused word but this deal is truly transformational,” said Tidjane Thiam, chief executive of Prudential. “We have the full support of the AIG board and the US authorities,” he added.
The takeover increases Prudential’s exposure to Asia, which accounted for 44 per cent of new business in 2009. Prudential have confirmed that the UK life assurance sector is still an important part of the groups overall activity.
Prudential, the UK life insurer, has agreed to buy the Asian operations of AIG. An agreed price of $35.5bn in cash and shares makes it one of the largest deals in UK history.The deal combines the largest insurance businesses in Asia. The deal doubles the size of Prudential and will make the region a key contributor to profits within the group.
The deal will be structured as an acquisition of both Prudential and AIA by a new company, to be known initially as New Prudential.
It is reported that Prudential will pay $25bn in cash and 10.5bn in shares of the enlarged company. The company headquarters will be in the UK and will be listed on the UK Stock Exchange. It is also anticipated that the company will also be listed on the US stockmarkets
AIG has planned a partial floatation of the Asian part of the group, but shelved the idea in preference to the deal with the Pru.
“I think that transformational is an overused word but this deal is truly transformational,” said Tidjane Thiam, chief executive of Prudential. “We have the full support of the AIG board and the US authorities,” he added.
The takeover increases Prudential’s exposure to Asia, which accounted for 44 per cent of new business in 2009. Prudential have confirmed that the UK life assurance sector is still an important part of the groups overall activity.
[Blog] Pru clinches mega deal: Prudential, the UK life insurer, has agreed to buy the Asian operations of AIG. An agreed price of $35.5bn in cash and shares makes it one of th... http://ping.fm/RDHCN
[Blog] Pru clinches mega deal: Prudential, the UK life insurer, has agreed to buy the Asian operations of AIG. An a... http://ping.fm/Czmcx
Wednesday, 17 February 2010
[Blog] Wealthy Tax avoiders get hit for £373 million: HMRC started to tighten their grip on tax ... http://ping.fm/afGyF
Wealthy Tax avoiders get hit for �373 million
(My Original Blog Post: http://www.consilium-ifa.co.uk/blog/financial-news/wealthy-tax-avoiders-get-hit-for-373-million.php)
HMRC started to tighten their grip on tax avoidance last year. It has been reported that £373 million in revenue was received as a result of targeting tax avoidance schemes. This represents a 21% increase on the previous year.
Figures obtained under the Freedom of Information Act show the result of action taken by special HM Revenue & Customs' teams set up to tackle tax avoidance.
The haul was revealed by law firm McGrigors, under the freedom of information act. The increase in revenue is 360% higher than five years ago.
The campaign has been used to help plug the hole in the public finances.
It is believed that many old schemes are still being used and it is only a matter of time before HMRC catches up with them.
Investment bankers and hedge fund managers were among HMRC’s main targets, as were foreign nationals.
Tax avoidance that are designed for inheritance tax planning, capital gains tax and stamp duty have been closed down. The rules on trusts have also been given an overhaul, making it much harder to use them to reduce tax.
HMRC started to tighten their grip on tax avoidance last year. It has been reported that £373 million in revenue was received as a result of targeting tax avoidance schemes. This represents a 21% increase on the previous year.Figures obtained under the Freedom of Information Act show the result of action taken by special HM Revenue & Customs' teams set up to tackle tax avoidance.
The haul was revealed by law firm McGrigors, under the freedom of information act. The increase in revenue is 360% higher than five years ago.
The campaign has been used to help plug the hole in the public finances.
It is believed that many old schemes are still being used and it is only a matter of time before HMRC catches up with them.
Investment bankers and hedge fund managers were among HMRC’s main targets, as were foreign nationals.
Tax avoidance that are designed for inheritance tax planning, capital gains tax and stamp duty have been closed down. The rules on trusts have also been given an overhaul, making it much harder to use them to reduce tax.
Tuesday, 16 February 2010
Inflation exceeds targets
(My Original Blog Post: http://www.consilium-ifa.co.uk/blog/general-info/inflation-exceeds-targets.php)
In the twelve months to January, the consumer prices index (CPI) rose by 3.5% in the year. This was up from the 2.9% rise recorded in
December 2009.
The Bank of England has been under pressure over most of 2009. Higher than expected inflation has meant that the BOE governor – Mervyn King has had to write to the Chancellor of the Exchequer to explain why inflation has been above the Governments target of 2%.
The Bank anticipates that inflation will fall later this year. If they are proved correct it may even stay below the target for the next two years
The Governor has indicated that the recent high level of inflation have been down to the VAT change in December and increases in oil prices.
In the year to January, the all items retail prices index (RPI) which is used to negotiate salary increases rose by 3.7%, up from 2.4% in the twelve months to December as last year's interest rate cuts dropped out of the annual calculations.
Over the same period, the all items RPI excluding mortgage interest payments index (RPIX) rose by 4.6%, up from 3.8% in December.
For the latest market information go to our Market Info page
In the twelve months to January, the consumer prices index (CPI) rose by 3.5% in the year. This was up from the 2.9% rise recorded in
December 2009.The Bank of England has been under pressure over most of 2009. Higher than expected inflation has meant that the BOE governor – Mervyn King has had to write to the Chancellor of the Exchequer to explain why inflation has been above the Governments target of 2%.
The Bank anticipates that inflation will fall later this year. If they are proved correct it may even stay below the target for the next two years
The Governor has indicated that the recent high level of inflation have been down to the VAT change in December and increases in oil prices.
In the year to January, the all items retail prices index (RPI) which is used to negotiate salary increases rose by 3.7%, up from 2.4% in the twelve months to December as last year's interest rate cuts dropped out of the annual calculations.
Over the same period, the all items RPI excluding mortgage interest payments index (RPIX) rose by 4.6%, up from 3.8% in December.
For the latest market information go to our Market Info page
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