Single 15% savings tax could benefit all, says IMA

clock

The Investment Management Association has proposed radical reform of savings tax which could create a simplified single income and capital gains tax of 15% paid by investors at disposal.

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...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Darius McDermott: Old demographics, new innovations — so why isn't healthcare booming?

Darius McDermott: Old demographics, new innovations — so why isn't healthcare booming?

'The sector should be flying — but it isn't'

Darius McDermott
clock 08 May 2025 • 5 min read
Why China's journey to net zero demands investors' attention

Why China's journey to net zero demands investors' attention

China's journey towards net zero could yet prove more rapid than expected

Gabriel Sacks
clock 07 May 2025 • 4 min read
Morningstar CEO: Advisers and industry need 'shared language' around risk

Morningstar CEO: Advisers and industry need 'shared language' around risk

Kapoor points to UK regulation becoming more ‘goals focused’

Sahar Nazir
clock 07 May 2025 • 2 min read