UK - The Investment Management Association is calling for a fundamental review of the taxation of funds and savings income.
The IMA’s pre-Budget representations to the government also call for more clarity in the tax treatment of authorised investment funds and for the removal of corporation tax on property funds.
The tax prevents pension schemes and charities from taking advantage of property investment funds as they are not able to reclaim the corporation tax paid in the fund at a rate of 20%.
The trade body also called for the government to permit property investment funds to be eligible investments inside the ISA wrapper.
It wants to see charities and pension funds exempt from paying stamp dut on acquisitions and dealings in authorised investment funds.
This submission follows IMA proposals in September - included in a document entitled Investing in Savers ñ for a simplified tax regime.
Errors in the Competition and Markets Authority's (CMA) data analysis make its provisional decision on the investment consultants market investigation "flawed", and lacks an "adequate evidential basis" to impose remedies, Mercer has said.
Environmental, social and governance (ESG) issues could be the key to greater engagement with members if the power of investments is communicated well, says Emma Douglas.
Life expectancy in the UK saw no improvement between 2015 and 2017 as the number of people aged over 90 hit a record high, latest Office for National Statistics (ONS) data reveals.
Self-administered pension funds spent £14bn on payments to pensioners in Q2 2018, but only received £11.4bn of contributions (net of refunds), latest Office for National Statistics (ONS) data reveals.