Investors see value in FTSE 250 after election surprise
While investors aren’t finding as many buying opportunities after the general election, they are eyeing up the FTSE 250 stocks.
While investors aren’t finding as many buying opportunities after the general election, they are eyeing up the FTSE 250 stocks.
Financial advisers in the UK are facing an unprecedented period of uncertainty as Britain woke up to a hung parliament on Friday, casting doubts over the future of key tax policies dropped from the Finance Bill in the run up to the snap election.
Sterling has taken a hit and yields on 10-year gilts initially dipped, but the main FTSE stock index edged higher, recouping early losses, as the UK woke up to anything but a ‘strong and stable’ government.
HM Revenue & Customs’ list of recognised overseas pension schemes (Rops) may be back, but the delay in issuing it has to be carefully analysed, says Montfort International managing director Geraint Davies.
Holborn Assets Ltd has applied to the Financial Conduct Authority to temporarily cease all of its regulated activity with immediate effect, but has no plans to close its UK operations, managing director Christopher Wicks confirmed to International Adviser.
Investors have been struggling to call any winners and losers ahead of the UK election due to its lack of a binary outcome.
After missing its Monday deadline, HM Revenue & Customs released an updated recognised overseas pension scheme (Rops) list on Wednesday that saw Australian scheme numbers rise, while Guernsey and Jersey continued their declines.
More than one million UK taxpayers, who earn between £100,000 and £123,000, could face paying an effective tax of 60% if the current tax system remains unchanged, according to international accountancy firm RSM.
Plans by Britain’s opposition Labour Party to impose a ‘land value tax’ are unlikely to apply to gardens and other “productive land”, despite criticism the policy could cost the average home £5,539 (€6,346, $7,149).
Gold sales have soared in the past week after doubts over Theresa May’s ability to win the election, coupled with an increased terrorist threat.
The Financial Conduct Authority has ordered Glasgow-headquartered Intelligent Pensions to stop providing pension advice in the latest in a series of actions taken by the UK watchdog to clamp down on pension transfers.
Pension transfers are likely to be delayed and providers, advisers and clients have been left in limbo after HM Revenue & Customs failed to publish a new list of recognised overseas pension schemes (Rops) that was scheduled for Monday.