All-in cost of 0.25% for 7IM Active portfolio
MPS OCF reduced by 3 basis points
Change has been effective since 1 January
All MPS models will have VAT removed from 1 October
‘Today’s measures seem to give with one hand, while taking away with the other’
Cut to 5% for six months
Platforms could be hit with a £10m bill in order to make sure they comply with new EU tax rules, the Tax Incentivised Savings Association (Tisa) has warned.
Her Majesty's Revenue & Customs (HMRC) has upheld the VAT exemption on discretionary fund manager transaction fees.
Some of the UK's largest fund houses are considering launching retail share classes with a 0% AMC rather than provide platforms with ‘super clean' alternatives.
European stocks slumped in afternoon trading ahead of a meeting of eurozone finance ministers to agree on the next tranche of aid for Greece.
HM Revenue & Customs (HMRC) is to publish further guidance on whether discretionary fund managers should be eligible for VAT payments.
The IMA is to begin charging non-members to list funds in its sectors in a move that could see some groups removing vehicles from the listings altogether.
We ask fund managers for their top stocks or sector picks for 2012.
Strategists have predicted inflation will fall back to target in the New Year when the VAT rise is stripped out of figures, freeing the Bank of England to pump in more money to stimulate the economy.
Income sector heavyweights return to form after paying the price for anti-cyclical stance.