Hargreaves Lansdown has won a 'discount tax' challenge against HM Revenue & Customs (HMRC), which could lead to at least £15m in annual management charges returned to around 150,000 investors.
Hargreaves Lansdown introduced 'loyalty bonuses' - discounts provided against the ongoing management charges - for clients over 15 years ago but in April 2013 the rebates were deemed taxable by HMRC. ...
'Managed separation update'
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Three months on
Regulator has stepped in