Liontrust has today removed VAT from its managed portfolios, which will immediately reduce the cost for advisers’ clients by 0.06%. This applies to all the WSS (Wealth Solutions Service) and MPS (Managed Portfolio Service) portfolios managed by Liontrust.
The question of whether VAT should be levied on MPSs surfaced last year when the taxman ruled Tatton’s MPS was exempt from the tax.
Other companies — such as Brewin Dolphin, AJ Bell, Quilter, Investec, 7IM and Brooks Macdonald — have since followed suit.
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