In September we were able to announce a successful conclusion to negotiations on the cross-subsidy of regulatory fees. Finding the right level of PII cover at the right price has become ever more difficult for many IFAs. It is a hard problem to solve because it is subject to so many external pressures. But the premiums have shot up – a problem across the insurance industry since the events of September 2001. An outbreak of complaints about the ‘safeness’ of split capital investment trusts earlier on in the year, has also exacerbated the problem.
Through the PI Forum, which we set up just under three years ago, we have discussed the problem at length with the PI industry and the FSA. We have pressurised the FSA to review its rules and look at the degree of prescriptiveness. The FSA is taking a more sympathetic approach to those IFAs who, through no fault of their own, are unable to get compliant cover. Conveyencers At their request, we have surveyed our members in order to collect some ‘hard data’ so that they can gain a better picture of what is going in the market. Company law requires the directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.
For much of that time it has been beneficial, at least for younger people, to do so; however, in recent years the decision has been less clear-cut because of a number of factors. Contracting out of S2P enables an employee to exercise some measure of control over that part of their pension provision, including where to invest it and (within limits) when to start drawing it.
The pot is also available on death to provide benefits for survivors. It also removes, to some extent, the effect of political decisions on the future payment of that benefit. A good reason to contract out of S2P would be the prospect of a bigger private pension elsewhere.
One potential use for this site is to house the new Criminal Records Bureau, which is to be established in Merseyside Teesland will be submitting a proposal to the Home Office for this by 1st March 1999 deadline.
Teesland has significant expertise and experience in large scale developments in cities such as Leeds Edinburgh and London and we are delighted that they will be involved in the development of this important area. We received a lot of interest from developers who were keen to work with the City Council on this site and that is a measure of the confidence and optimism that exist in Liverpool at present.
We are looking for imaginative developments which will create a thriving business quarter in the City Centre. We see this as a long-term joint venture relationship and are looking forward to working alongside them to rejuvenate this area.
It is an exciting project and we will shortly be submitting a full planning application for the office development on the Moorfields site and commissioning a Masterplan for the area. This will provide the platform to make Moorfields one of the leading city centre regeneration opportunities in the north West.
Teesland is a broadly based UK property development company with a development portfolio of over £500 million. Mason Owen are the agents acting for Teesland Group. The two categories were Best Existing Building and Innovation with other students designing murals which have also been used.
In choosing the winners the judges assessed the quality and productivity of the office workplace. A key factor was the way in which the building supported the company’s business objectives in providing an enjoyable place to work and which also reflected the holiday feel staff were trying to sell. At the time of property transfer all types of research should be carried out by qualified quantity surveyor.
This was a prestigious project to work on because of its innovation, and for it to be recognised by these two awards is a great achievement. The major success was completing the first phase of the project on time. The call centre, which will eventually cater for 400 staff, was designed and built by BDG McColl and was completed in February 1998.