Representing the consumer and how tax can impact income, savings and investments
The UK’s tax regime in relation to savings, investments and pensions products is complex and subject to constant change. Tax law, and changes, are often used as an influencer of consumers’ behaviour, either incentivising them to save, or incentivising them to direct their savings into a particular market channel or product type, or towards a particular asset class.
The tax regime, both in its application and its exemption, can be slow, clumsy and be very difficult to understand and apply. There is also a regrettable trend towards complex tax incentivised savings, to the detriment of consumer, and industry’s willingness and ability to take advantage of changes often set out to achieve desired political objectives.
The Taxation Technical Committee represents the consumer and how tax can have a negative impact on income, savings, and investments. TISA is in a strong position to advise HMT, HMRC and their advisers on how proposed changes to tax law will affect the industry and consumers to warn of potential unintended consequences.
Aegon UK PLC
Bank of Ireland
CMC Markets Investments Limited
CMS Cameron McKenna Nabarro Olswang LLP
Delta Financial Systems
JPMorgan Asset Management
L & G plc
Raymond James Investment Services Limited
RBC Brewin Dolphin
Royal Bank of Scotland
Secure Trust Bank Plc
SIX Financial Information
St James’s Place Wealth Management
Sophie Legrande-Green, Policy Executive, leads on this work at TISA
Co-Chairs: Maarten Van der Hoeven, abrdn and Alex Ranahan, Financial Software