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Budget 2012 – A Brief Round-up

In light of Budget 2012, there are a few areas of interest for those looking at the covenant of their employer and its ‘reasonable affordability’ or for employers that are finding money is short.

The main headline in this regard, is the reduction in the Corporation Tax rate to 22% by 2014 (24% from April 2012). Of course, any employer liable for Corporation Tax will welcome this news, and the additional pounds left in their cashflow. This reduction could help some businesses stay in the UK, always a consideration in covenant reviews, where they may have previously considered moving to a country with a lower tax structure.

There has been a tightening though, with an increase in stamp duty to 15%, where a company buys a residential property over £2m. This came in to force on midnight 21 March 2012. The Chancellor has sent a very clear message here, that residential property sales cannot escape taxation. (more…)

Category : Employer Covenant — admin @ 12:45 pm March 30, 2012

Pensions Rocks III – The Aftermath

Last month, Jackal’s own Simon Kew participated in a charity event called Pensions Rocks III. The event – which  pits pensions industry professionals against each other in a battle-of-the-bands format – seeks to raise funds and awareness for a range of charities. We asked Simon to relate to us his “tour diary” for the event.

A month or so on from The Racket of the Lambs making their debut, on the stage of the 100 Club in Oxford Street, the band are reforming…albeit for a catch up over drinks. This prompted me to write this blog, to give an insight in to the experience.

It all began, in some respects, back in the run up to Christmas 2010. I had joined Jackal Advisory in the September and was finding my feet in the industry, since leaving the Pensions Regulator. The Pensions Play Pen (an excellent LinkedIn group for pensions people, run by the inimitable Henry Tapper) was holding a Christmas party, so I decided to go along. (more…)

Category : Savants in the News — admin @ 12:45 pm