News

A barrister who failed to pass on his VAT to HM Revenue and Customs (HMRC) has been jailed for tax fraud.

The annual management charge on Anthony Bolton's Fidelity China Special Situations investment trust will be cut from 1.5% to 1.2% from 1 April 2013.

Income is the dominant theme among investors at the moment, with the focus on UK equity income spreading to other areas including Asia and emerging markets, according to Adrian Lowcock, senior investment manager at Hargreaves Lansdown.

Baillie Gifford has cut the annual management charge across its specialist investment trust range, including Sarah Whitley's top-performing £169m Japanese investment trust.

Old Mutual Global Investors has confirmed it has hired Schroders star Richard Buxton as its new head of UK equities.

The Financial Services Consumer Panel (FSCP) has launched a four pillars of consumer protection framework aimed at enabling more effective assessment of EU legislation, standards and supervision.

HM Revenue and Customs (HMRC) is to close its 281 tax enquiry centres in 2014 and pilot a new support service from June.

Advisory group LIFT-Financial is planning to expand through its self-employed adviser arm LIFT-Advice because the incoming capital adequacy requirements for this side of the business are less onerous.

The collapse of debt burdened firms that were bought up by private equity companies before the financial crisis could pose the next major risk to the stability of the UK's economy, the Bank of England has warned.

Outgoing Bank of England(BoE) governor Sir Mervyn King said last night the pound is now "properly valued" in a move to halt its slide.