Sanlam UK to stop charging VAT on discretionary MPS

Effective from 1 April

Pedro Gonçalves
Competitors have also removed VAT from their model portfolios

Competitors have also removed VAT from their model portfolios

Sanlam UK will cease charging VAT on its model portfolio services (MPS), effective from 1 April.

The change will apply to all MPS where there is no personalisation at an investor level. The Active, Index and Socially Responsible strategies are among the models impacted by the change. Sanlam aims to implement the change across multiple wrap and fund supermarket platforms from 1 April, but warned there might be delays as for some platforms implementing the changes may prove challenging from an operational perspective. Sanlam said in a statement it is working with all of its distribution partner firms to expedite the move. Copia Capital removes VAT from MPS range Sanlam will b...

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