Copia Capital removes VAT from MPS range

Follows HMRC ruling change

Copia Capital Management will no longer be charging VAT on its suite of model portfolios, following a recent HM Revenue & Customs ruling stating VAT on intermediated DFM model portfolio services will not always be applicable.

Robert Vaudry, managing director at Copia, said: "We have been working closely with HMRC and are delighted to be removing VAT across all our portfolios from 1 February.  "Our suite of transparent, diversified multi-asset portfolios, driven by active asset allocation, already offer competitive pricing and we are thrilled be able to further reduce the cost to the end client." Competitors such as Brewin Dolphin, Tilney Smith & Williamson and Investec have also removed VAT from their model portfolios, following HMRC's indication that it is not required Copia currently offers a range of...