S&W Cash fund raises £35m since move to Dublin

Smith & Williamson's Cash fund has grown by £35m since it was re-domiciled in March. The fund was ...

Smith & Williamson’s Cash fund has grown by £35m since it was re-domiciled in March. The fund was moved from the UK to Dublin to improve the tax benefits for investors. Angus Duncan, head of distribution at the group, said: “Presently, an investor in a UK cash fund pays tax on the dividend as if it were interest income, 40% higher rate or 20% lower. An investor in a Dublin cash fund pays tax on the dividend as if it were a normal company dividend, so 32.5% higher rate or 10% lower rate. “Therefore there is already an advantage to UK taxpayers to hold cash in a Dublin registered cash fu...