Fund distribution may be simplified in the UK

Inland Revenue proposals to update the offshore tax regime for UK investors could make it easier for fund groups to distribute funds into the UK, bypassing the onerous Financial Services Authority's distributor status process.

As part of a consultation paper set out by the Inland Revenue, it is proposing the current offshore regime, which has been relatively untouched by the Revenue since 1984, could be restructured, retained, changed back to the pre-1984 regime, or replaced entirely.

The Inland