HMRC appeals Hargreaves Lansdown's 'discount' tax win

In March, Hargreaves Lansdown announced it had won a 'discount tax' challenge against HMRC after it introduced 'loyalty bonuses' - discount provided against the ongoing management charges - for clients over 15 years ago, but in April 2013 the rebates were deemed taxable by HMRC.  In September 2013, Hargreaves Lansdown launched a legal challenge to this rule calling it an "unwarranted attack on private investors". The firm took the case to the tax tribunal and it was ruled that loyalty bonuses are not taxable. As a result, £15m could potentially be returned to investors, and, in add...