A WEEK IN PERSONAL FINANCE
Sunday 01 October 1995
Old Mutual Fund Managers, formerly branded Providence Capitol, was fined pounds 30,000 by Imro and ordered to pay further costs of pounds 17,000. Offences of the South African-owned company included failing to invest cheques from private investors quickly enough. Affected investors have been compensated for pounds 7,500, around pounds 20 per investor.
The Inland Revenue is offering to give back pounds 500m in tax that has been overpaid by up to 6 million people. The main people affected are non-taxpayers who do not reclaim tax deducted at source on building society and bank interest or on share dividends. Non-taxpayers who fill in a form - IR85, which is available from banks, societies and tax offices - can receive their deposit interest gross. For details, phone the Revenue free on 0800 660800.
Policyholders with insurer Provident Mutual are set to benefit from pounds 25m of bonuses and cost control promises following a pounds 170m takeover by the insurance company General Accident.
Private client stockbrokers say a new system of paperless share settlement due to come in next July will raise costs for private investors. Broker trade body Apcims has complained to CrestCo, the company set up to run the new Crest system, and the Treasury.
Richard Branson's Virgin Direct has launched a corporate bond Pep, and claims it is the cheapest of this new type of high-income, low-risk investment.Charges total 0.77 per cent a year.
Lloyds Bank has produced cheque books for the left-handed. The books are bound on the right and open from the left.
Insurer Legal & General has slashed life insurance rates for new policies by up to 25 per cent.
The first public offer opened for a new tax-free Venture Capital Trust. Baronsmead VCT is a type of high risk fund that carries Pep-style tax breaks. Launch investors subscribing by 6 November also get 20 per cent upfront tax relief. Prospectus on 0171-242 4900.
- 1 Howard Jacobson: Let's see the 'criticism' of Israel for what it really is
- 2 Instagram of US airport security chiefs: Lipstick knives and IED training kits among items seized
- 3 Brazil vs Germany World Cup 2014: In defence of Mesut Ozil - the Arsenal midfielder works magic in the shadows
- 4 PornHub begs users to stop uploading video clips of Brazil getting beaten 7-1
- 5 Tony Abbott embarrasses Australia by praising Japanese WWII military, ‘getting on the sake’ and posing for ‘crotch-shot’ photo opportunity
Game of Thrones author George RR Martin says 'f*** you' to fans who fear he will die before finishing Westeros saga
Jennifer Lawrence face palms Emma Watson at Christian Dior show in Paris
Instagram of US airport security chiefs: Lipstick knives and IED training kits among items seized
Mick Jagger denies being World Cup curse and reason for Brazil’s embarrassing defeat
Gingers face extinction due to climate change, scientists warn
Sustained immigration has not harmed Britons' employment, say government advisers
British jihadist calls for 'flag of Islam' over Downing Street and Buckingham Palace
Australia facing international condemnation after turning around Sri Lankans at sea
7/7 memorial defaced on anniversary of 2005 attacks with ‘Blair lied thousands died’ graffiti
Even when it brutalises one of its own teenage citizens, America is helpless against Israel
There’s a nasty smell in the political air – and it’s coming from the Tories
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