Displaying items by tag: VAT

Investment firm and platform provider Parmenion has joined the growing list of investment managers who have removed VAT from their Managed Portfolio Services (MPS).

Wealth Manager Charles Stanley, which has a substanial SIPP arm, has removed VAT from its Managed Portfolio Service (MPS) across its Dynamic Passive, Blended and Multi-manager models.

The parent company of Transact, the SIPP and platform provider, has been hit with an unexpected £4.3m VAT bill which could also see the company having to pay an additional £1.4m a year in VAT.