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Nucleus launches new gross interest account

Nucleus has launched a new general account which allows clients to receive interest from assets gross of tax.

The IFA-owned wrap says it will eliminate any delays in reclaiming tax back from HMRC.

The account functions through the use of a gross share class or, where this share class is unavailable, through a fund manager paying the interest distribution gross of tax on the existing fund.

Gross interest also applies to all balances held in the account’s cash account.

Nucleus chief operations officer Andrew Smith says: “We believe the general (gross) account will be vital for the likes of trustees of pension schemes, registered charities, local authorities, non-UK domiciled individuals or holders of offshore bonds.”


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What employers should expect over the next five years

A major feature of our articles is looking into the Jelf Employee Benefits crystal ball to predict changes and trends that may influence the short and medium term shape of UK employee benefits.  By flagging such changes early we aim to provide our followers with the tools to make sensible and informed decisions on their benefits offerings.


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