on the pbr

At the time of writing, we were expecting a pre-Budget report which could announce cuts in VAT and o...

At the time of writing, we were expecting a pre-Budget report which could announce cuts in VAT and other measures designed to see us through the credit crunch. So any announcement on tax reform for investment trusts is unlikely to grab the headlines. But if, as the AIC hoped, the Government had pressed ahead with a 'streaming regime' for investment trusts, it would have provided a welcome boost for the sector at a time when stock markets are depressed. Although investment trusts are exempt from tax on UK dividends, they pay corporation tax on their interest income on gilts, bank deposit...