St James's Place launches probe into private school fees tax strategy

Apollo Private Wealth

clock • 1 min read

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 ...

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