Single 15% savings tax could benefit all, says IMA

Commissioned by the IMA, the 30-page Investing In Savers report suggests revenue earned by the Treasury from the take-up of investment funds could increase a fraction each year yet cut the amount of administration required by fund management firm and seem fairer to individuals as tax would be taken at a single understandable rate. The IMA points out reform may be also be necessary as there are several EU test cases questioning whether or not UK dividend tax is discriminatory. Closer inspection of the document has reviewed the complexity of six possible rates of investor tax as well a...