UK offshore fund rules adjusted to mirror onshore tax regime

david-hughes

New regulations implemented by HM Revenue & Customs on offshore funds due to take effect in the UK on December 1 will mirror those for onshore funds more closely.

Interest from offshore funds is currently charged to income tax if you invest in a foreign fund or Oeic (open-ended investment company) unless the revenue has given the fund the status of a distributor, explains David Hughes, a partner at law firm Allen & Overy in London. “Under the current regime, an investor is generally subject to i

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