PwC says income payments due on Keydata plans

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Investors in some Keydata plans are set to begin receiving income payments, PricewaterhouseCoopers (PwC) says.

The administrator says it will review each product in turn to determine whether there is a  requirement to deduct or withhold tax in conjunction with the underlying product providers. It says where there is no requirement, it will begin making gross payments. PwC says it endeavoured to simplify the payment process by withholding tax to individuals and suggesting they deal with HMRC as regards any further tax payments or repayments. But HMRC failed to reach a solution. Additionally, PwC says it will be seeking to obtain "satisfactory" confirmation from the underlying product provide...

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