St James’s Place 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". Joe Wiggins returns to St James's Place as director of investment research An SJP spokesperson told Investment Week's sister publication Professional Adviser: "We are currently investigating this matter, which ...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
