Fidelity FundsNetwork is to bring forward all rebate payments accrued in the current tax year to before 6 April, in a bid to avoid income tax levied by HM Revenue & Customs (HMRC).

Skandia has expressed frustration at rival platforms failing to allow electronic re-registration of assets, despite being required to do so under the Retail Distribution Review (RDR).

Standard Life is to press fund managers to launch cheaper share classes for large platforms including itself, after HM Revenue & Customs said it would apply income tax to unit and cash rebates.

Legal & General has acquired the remaining 75% of Cofunds it does not currently own, in a deal worth £131m.

Platforms have predicted the swift death of the rebate model following confirmation that HM Revenue & Customs (HMRC) will apply income tax to both unit and cash rebates.

Alliance Trust Savings (ATS) is to convert its legacy business to clean share classes, after HM Revenue & Customs (HMRC) announced it will tax unit and cash rebates.

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The threshold at which people begin to pay income tax will rise to £10,000 in 2014, a year earlier than planned, the Chancellor announced today.

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Investment platform Skandia has criticised plans by the Financial Services Authority's (FSA's) to outlaw rebates on 'legacy' business paid by fund groups to platforms from 2016.