Authorised contractual schemes for collective investment: draft regulations

Draft tax regulations have been revised in response to consultation on the introduction of authorised contractual schemes for collective investment. On 31 January HM Treasury published revised draft financial services regulations and HMRC published the following draft tax regulations:

The Collective Investment Schemes (Tax Transparent Funds, Exchanges, Mergers and Schemes of Reconstruction) Regulations; the Stamp Duty and Stamp Duty Reserve Tax (Collective Investment Schemes) (Exemptions) Regulations; and the Value Added Tax (Finance) Order.