HMRC

Standard Life is to press fund managers to launch cheaper share classes for large platforms including itself, after HM Revenue & Customs said it would apply income tax to unit and cash rebates.

The decision by HMRC to tax rebates to consumers has prompted Skandia to review its recently announced unbundled charging structure, Investment Week can reveal.

Alliance Trust Savings (ATS) is to convert its legacy business to clean share classes, after HM Revenue & Customs (HMRC) announced it will tax unit and cash rebates.

HMRC has ruled it will tax fund rebates paid to consumers from April 2013.

GOSLING'S GROUSE

Leading platform Fidelity FundsNetwork expects HMRC to rule imminently that rebates paid to consumers are taxable.

A gang who made a film starring a former Eastenders actor solely as a £2.8m tax scam have been convicted at Southwark Crown Court.

Her Majesty's Revenue & Customs (HMRC) should "name and shame" those who create, sell or use tax avoidance schemes to discourage activity which is costing the Treasury billions of pounds a year, a committee of MPs has said.

A former head of HM Revenue & Customs (HMRC) who stepped down after he was accused by MPs of lying has been hired by HSBC to advise on honesty, according to reports.

HM Revenue and Customs (HMRC) has confirmed it is consulting on whether to tax fund rebates paid to customers.