Elizabeth Stone reviews the changes recently implemented by HMRC to create a more flexible and practical regime for offshore funds distributing to the UK marketplace
In the UK over the past three years HMRC has been consulting on a new tax reporting regime which increases simplicity and certainty for UK investors and fund promoters while maintaining the overriding aim to prevent tax-free accumulation of income in offshore vehicles.
The ‘new’ tax reporting regime was finally introduced with effect from 1 December 2009 and the ‘old’ distributor status regime will be phased out between 2010 and 2012.
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Elizabeth Stone reviews the changes recently implemented by HMRC to create a more flexible and practical regime for offshore funds distributing to the UK marketplace
In the UK over the past three years HMRC has been consulting on a new tax reporting regime which increases simplicity and certainty for UK investors and fund promoters while maintaining the overriding aim to prevent tax-free accumulation of income in offshore vehicles.
The ‘new’ tax reporting regime was finally introduced with effect from 1 December 2009 and the ‘old’ distributor status regime will be phased out between 2010 and 2012.
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
