Canaccord Genuity Wealth Management (CGWM) UK has announced the removal of VAT from its managed portfolio service, from June 2021.
This change means that CGWM can continue to offer IFA clients and their customers services at a more competitive cost.
Prior to a recent ruling by HMRC, CGWM was required to charge 20 percent VAT in addition to management fees on these services, including MPS, ESG portfolio service and the passive portfolio service.
Compet...
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