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

Debate over loyalty bonuses

Laura Dew
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 Hargreaves Lansdown has successfully challenged HMRC
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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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