Responding to HMRC’s consultation on the scope, design and tax regime for the proposed new reserved investor fund (RIF – a new UK-based unauthorised contractual scheme fund), the CIOT highlights the importance of ensuring any new regime interacts as expected with existing tax rules (and consequently provides certainty for investors). The CIOT considers a particularly interesting point around the VAT implications for commercial real estate investors, given that commercial property may well be opted to tax, noting that a UK financial services option to tax could also increase the attractiveness of the RIF.
Responding to HMRC’s consultation on the scope, design and tax regime for the proposed new reserved investor fund (RIF – a new UK-based unauthorised contractual scheme fund), the CIOT highlights the importance of ensuring any new regime interacts as expected with existing tax rules (and consequently provides certainty for investors). The CIOT considers a particularly interesting point around the VAT implications for commercial real estate investors, given that commercial property may well be opted to tax, noting that a UK financial services option to tax could also increase the attractiveness of the RIF.
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