• Home
  • News
    • People moves
    • Africa
    • Asia
    • Australia
    • Canada
    • Caribbean
    • Domicile
    • Europe
    • Latin America
    • North America
    • Middle East
    • US
    • US
    • UK
  • Products
    • Funds
    • Pensions
    • Platforms
    • Insurance
    • Investments
    • Private Banking
    • Citizenship
    • Taxation
  • Fintech
  • Regulation
  • ESG
  • Expats
  • In Depth
  • Special Reports
  • Directory
  • Video
  • Advertise with us
  • Directory
  • Events
  • European Fund Selector
  • Newsletters
  • Follow us
    • Twitter
    • LinkedIn
    • Newsletters
  • Advertise with us
  • Directory
  • Events
    • Upcoming events
      View all events
  • European Fund Selector
International Investment
International Investment

Sponsored by

Sharing Alpha
  • Home
  • News
  • Products
  • Fintech
  • Regulation
  • ESG
  • Expats
  • In Depth
  • Special Reports
  • Video
  • Wealth management

Brooks Macdonald removes VAT from its managed portfolio service

Brooks Macdonald removes VAT from its managed portfolio service
  • Christopher Copper-Ind
  • @intlinvestment
  • 07 January 2021
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  

Brooks Macdonald, the investment manager with £13.7bn in funds under management, has announced today that it will stop applying VAT on the group's Managed Portfolio Service (MPS), effective from 1 January 2021. 

The change will apply to Brooks Macdonald's custody MPS and those held on third party platforms (platform MPS). 

Related articles

  • AJ Bell removes VAT from managed portfolio service
  • Brooks Macdonald announces fintech partnership with SS&C
  • Brooks Macdonald agrees £10m acquisition of Lloyds' Channel Islands business
  • Brooks Macdonald completes acquisition of Lloyds' Channel Islands WM business

The change means that Brooks Macdonald can now offer its IFA partners and their clients high-quality investment management services at an even more competitive price regardless of the platform.

Following guidance from HRMC, we are delighted to be able to remove VAT from our MPS and are working with our platform partners to remove it at the earliest opportunity."

A spokesperson said: "Following guidance from HRMC, we are delighted to be able to remove VAT from our MPS and are working with our platform partners to remove it at the earliest opportunity."

In September, Brooks Macdonald announced record revenues of £108.6 million for the year to 30 June 2020, along with funds under management of £13.7bn. 

In October, Brooks Macdonald announced a strategic partnership with SS&C Technologies, a global provider of software and technology services to the financial services industry.

This partnership is the next step in delivering Brooks Macdonald's vision as the leading investment manager for intermediaries, providing best-in-class adviser experience and client service through technology and innovation. The collaboration will provide a market-leading digital experience for Brooks Macdonald's intermediaries and clients.

Subscribe to International Investment's free daily newsletter

 

 

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  
  • Topics
  • Wealth management
  • Brooks Macdonald
  • UK

More on Wealth management

Fidelity Int'l launches advice service

  • Wealth management
  • 13 January 2021
Jupiter signs distribution agreement with FinecoBank in UK and Italy

  • Wealth management
  • 11 January 2021
AJ Bell removes VAT from managed portfolio service

  • Wealth management
  • 11 January 2021
AKG awards RL360 five stars for image and strategy

  • Wealth management
  • 21 December 2020
Big rise in younger people seeking financial advice: research

  • Wealth management
  • 14 December 2020
Back to Top

Most read

FCA issues warning on cyrptocurrencies as Bitcoin volatility continues
FCA issues warning on cyrptocurrencies as Bitcoin volatility continues
SharingAlpha's 2020 top rated funds by category revealed
SharingAlpha's 2020 top rated funds by category revealed
DeVere launches equity fund with Columbia Threadneedle Investments
DeVere launches equity fund with Columbia Threadneedle Investments
Guardian WM is reborn as Skybound WM
Guardian WM is reborn as Skybound WM
HNWIs in SE Asia cite lack of financial knowledge as greatest concern: report
HNWIs in SE Asia cite lack of financial knowledge as greatest concern: report
  • Contact Us
  • Marketing solutions
  • About Incisive Media
  • Terms and conditions
  • Policies
  • Careers
  • Twitter
  • LinkedIn
  • Newsletters

© Incisive Business Media (IP) Limited, Published by Incisive Business Media Limited, New London House, 172 Drury Lane, London WC2B 5QR, registered in England and Wales with company registration numbers 09177174 & 09178013

Digital publisher of the year
Digital publisher of the year 2010, 2013, 2016 & 2017
Loading