After the first tier tax tribunal in favour of Hargreaves Lansdown, HMRC has taken the decision to appeal the ‘discount tax’ ruling.
Hargreaves Lansdown has said that it expects the appeal process to complete in the first half of 2019, with a successful outcome seeing at least £15m returned to approximately 150,000 investors.
Hargreaves Lansdown chief executive Chris Hill said: Following the decision by the first tier tax tribunal in our favour, we see no reason why we would not be successful at appeal. The process is likely to complete in the first half of 2019 and a successful outcome will see millions returned to clients, as well as a simplification of their tax affairs.
“The ‘discount tax’ has always been an unnecessary and unwarranted attack on private investors.”
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