The weight of a windfall
Article Abstract:
UK personal equity plans (Peps) can be used for windfall shares received from building societies which are becoming banks in 1997. New shareholders could have to pay income tax on dividends, though this is likely to be small. Capital gains tax (CGT) could be a bigger problem since the price that shares are sold at will be taken as a gain by the tax authorities which see the cost of the shares as zero. A Pep can be used to avoid CGT, though charges for Peps may be higher than the tax saved.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1997
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Labour's City Cards
Article Abstract:
The UK Labor party aims to promote a longer term view in its economic policies and protect consumers of financial services through regulation. Retail finance is seen as in need of reform and the party aims to convert the Securities and Investments Board into the main regulator, abolishing the Personal Investment Authority. Mergers and acquisitions may be more strictly controlled if the party wins and election since they are seen as promoting short-term perspectives in business.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
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Peps and Tessas may face axe under Labour
Article Abstract:
The UK Labor party may abolish tax exempt special savings accounts (Tessas) and personal equity plans (Peps) if it wins an election. This would affect the financial services industry which has become dependent on fees from Peps. There is more than 25 billion pounds sterling invested in Tessas and life insurers sould be especially affected by the end of Peps. The Labor party does not plan a retrospective abolition of these investment vehicles.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
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