Alliance Trust to convert legacy business after HMRC ruling

Alasdair Pal
25 March 2013

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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.

The legislation, which comes into force on 6 April - a year earlier than planned - does not include assets invested before the deadline, as well as platforms' legacy back books. However, platforms may...

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