Business and Other Briefings

HMRC: Share fishermen across the UK are being encouraged to join a scheme tailor-made to help ensure they won't be caught short when their tax is due, following research that has revealed that they often don't save for tax & national insurance and this can cause difficulty when the tax bill finally arrives.

The Share Fisherman Scheme, set up by HMRC, helps its members set aside 20% of money earned aside each month from every catch, helping them to pay tax & national insurance on time and automatically at the end of the tax year.
Press release ~ SF – Historical Background ~ SF – Job Seekers Allowance ~ SF - NI

FSA: The Financial Services Authority has been conducting an investigation into the activities of certain fund managers and brokers in the split capital investment trust sector between September 2000 and February 2002 and has now has now resolved & discontinued its investigation in respect of the remaining firms and individuals under investigation.

The FSA and the Firms agreed a package of approximately £195 million for investors. The Firms agreed to contribute without admissions to a fund for distribution to eligible individuals who invested in zero dividend preference shares ("Zeros") and in a number of specified unit trusts and other financial products that invested in Zeros. Fund Distribution Limited ("FDL") was established to make distributions to eligible investors and it has now completed the distribution of its funds to eligible investors.
Press release ~ Fund Distribution Limited ~ Split capital investment trusts : FSA Money made clear

FSA: The Financial Services Authority (FSA) has announced the outcome of its review of the use of savings claims in general insurance press advertising, which has found a significant improvement in standards since it raised concerns in January 2007.

The review of all home and motor insurance advertising appearing in the national press over a ten day period in April 2007 found that 94% of advertisements issued by 28 firms fairly & accurately described what savings consumers would be able to achieve, while 6% contained misleading savings claims.

This follows the financial regulator's challenge to firms to improve standards after the FSA's January review revealed that 45% of home and motor insurance press advertising made misleading savings claims.

Press release ~ Review ~ Initial review ~ Are you covered? ~ FSA – Financial promotions


Revenue & Customs Brief 40/07

HMRC: This Brief gives details of an article: Oversea leasing - sections 109 and 110 Capital Allowances Act 2001 - leases entered into before 1 April 2006.

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