Halifax Pep confusion
Article Abstract:
The United Kingdom tax authorities are concerned that customers of the Halifax have been misled over deadlines on personal equity plans (Peps). Some stockholders have been told that they can Pep stocks but only using a plan provided by the Halifax because they were received too late. The tax authorities note that other Peps can be used. The deadline also starts when stocks are allocated, so investors receiving stocks late because of a Halifax mistake have not missed the deadline for retaining an exemption for windfall stocks which are not included in normal allowances.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1997
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Halifax on its way
Article Abstract:
The Halifax building society is carrying out a stock flotation in Jun 1997 and will be included in the FTSE 100 from Jun 23. The Halifax should be aided by a recovery in the UK housing market and benefits of rationalization and modernization. There are some concerns, however, that financial services companies have been so profitable that they could be about to see difficult times. Stockholders should not sell hastily and should wait in summer 1997, but they are not advised to purchase more Halifax stocks after the floation.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1997
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Halifax flotation: free shares pitfall
Article Abstract:
The Halifax Building Society has allocated free shares to members and some may have been given more shares than they should have. Members with excess shares may not know until they seek to sell them. They could then have to repay dividends as well as having the excess holding cancelled. Errors may be made when members have more than a single account and the name is registered in a different way for each account. Abbey National allocated excess shares at its flotation in 1989.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1997
User Contributions:
Comment about this article or add new information about this topic:
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