Kingswood removes VAT from discretionary MPS range

Change takes effect on 1 April

Wealth manager Kingswood will no longer charge VAT on its managed portfolio service (MPS) from 1 April.

The firm said the change, when it comes in, will apply to its six discretionary model portfolios - Defensive, Cautious, Balanced, Growth, Income and Adventurous. From April this year, clients will be charged only the management fee for the MPS. Sanlam UK to stop charging VAT on discretionary MPS Charlotte Cook, investment manager at Kingswood, said: "The decision was made in line with our core value of providing the best possible transparent service to our clients. "We are always looking for ways to improve our services and by removing VAT from our MPS, we are offering excellent...