Ever wondered how platform’s manage your client's cash?
In this bite-sized Assembly, Transact’s Glen Sweet reveals all.
You'll learn how a platform like Transact calculates the aggregate interest earned across a client’s daily trading and longer-term deposit accounts. And also that, because of differences in charging from platform to platform, it’s important to take a closer look at whether and how charges affect interest returned to clients.
If you’re interested in fixed-term deposits on platforms, Glen covers that too.
And let's not forget about HMRC. Glen explains how different wrappers handle cash interest – from tax-free ISAs to the more complex general investment accounts (GIA).
And finally, did you know there’s a trend among some businesses in the UK – at least at the time of publication in September 2024 – to move corporate cash on to platforms? Tune in to find out why.
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