St James's Place (SJP) has launched an investigation into one of its partner practices for allegedly promoting a scheme that avoids tax on private school fees. The wealth manager said it was looking into Apollo Private Wealth, which published a LinkedIn post a month ago advertising "setting up a tax-free efficient fund to pay private school fees". Apollo's brochure lists strategies to keep tax to a minimum when paying school fees, including using £3,000 tax-free gifting allowances and "absolute or bare trusts to divert income". An SJP spokesperson told International Investment's si...
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