Update: HMRC appeals Hargreaves Lansdown's 'discount' tax win

Debate over loyalty bonuses

Laura Dew
 Hargreaves Lansdown has successfully challenged HMRC

Hargreaves Lansdown has successfully challenged HMRC

Hargreaves Lansdown has revealed HM Revenue & Customs (HMRC) is appealing the ruling of a tax tribunal, which ruled in favour of the platform giant for rewarding loyal clients with a 'discount' tax, and could lead to £15m in charges being returned to 150,000 investors.

In March, Hargreaves Lansdown announced it had won a 'discount tax' challenge against HMRC after it introduced 'loyalty bonuses' - discount provided against the ongoing management charges - for clients...

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