Closed-End Fund

Closed-End Fund

One of the most common questions we receive asks for a definition of a closed-end fund and a definition of an open-end fund.
A closed-end fund is an investment vehicle with a fixed number of issued shares, which are not normally redeemable for cash or securities until the fund liquidates. Because there are a fixed number [...]

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The Benefit of Offshore Trusts

For many years UK taxpayers benefitted greatly by transferring (settling) their assets in offshore trusts, but increasing ant-avoidance legislation has led people to believe that there is no point in using an offshore trust any more.
Whilst it is true that the tax advantages are no longer as good and they once were the fact is [...]

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Business and Personal Bankruptcies Soar

Business and Personal Bankruptcies Soar

Official figures release today show that there have been massive increases in both personal and business bankruptcies as the credit crunch continues to bite.
The lack of working capital, usually provided by bank overdrafts or secured lending together with the problems of obtaining credit insurance have been blamed for a 98% increase in companies going into [...]

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European Tax Body Attacks MEPs Travel Rip-off

The Taxpayers Association of Europe (TAE) has hit out at the recently announced new rules for MEPs air travel, which are to be introduced after the June 2009 election is out of the way.
TAE president Rolf von Hohenhau, declared that MEPs should only be able to claim reimbursement for the actual price paid for air [...]

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New Penalty Regime for UK Taxpayers

Her Majesty’s Revenue & Customs (HMRC) recently published details of a new one penalty system for inaccurate tax documents and returns. This new system replaces the previous wide variety of penalties.
The new system relates to returns and documents for the period starting on or after 1st April 20098 which are due to be filed on [...]

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UK Budget Bombshell for Second Home Owners

A shock announcement in the small print of this year’s budget has left thousands of UK farmers and second home owners reeling at the loss of tax breaks without which they may have to sell up. Not a good thing in a falling market. But it could benefit owners of foreign holiday property.
Buried deep in [...]

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