Newsletter July 2013 – Clean Share Classes – A Clear and Simple Alternative

HM Revenue & Customs surprised many in March when it announced that platform rebates would be taxable from the start of the 2013-2014 tax year. This, combined with the Financial Conduct Authority (FCA)’s ruling that cash rebates on new sales from fund managers would be banned from 6th April, 2014, was a double-hammer blow for the practice of ‘trail commission’ by fund platforms.

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