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HMRC have published three consultation documents concerning the direct tax aspects of the UK investment management strategy:
HMRC have published three consultation documents concerning the direct tax aspects of the UK investment management strategy:
- Interest Distributions from Authorised Investment Funds Paid Without Deduction of Tax concerns the proposal to remove the requirement to withhold tax on interest distributions on UK-domiciled bond funds when sold through reputable intermediaries and marketed only to non–UK investors. Responses must be sent by email no later than 16 September.
- Investment Management Exemption and Collective Investment Schemes: Expanding the White List. Comments should be emailed by 16 September.
- Residence of Offshore Funds – Extending the Scope of TIOPA 2010, s 363A aims is to provide certainty that locating the management of certain offshore non-UCITS (undertakings for collective investment in transferable securities) funds in the UK will not lead to a risk of such funds being treated as tax resident. The deadline for responses, to be sent by email, is 14 October.
