The government is to amend the tax regulations on authorised investment funds and offshore funds to remove the duty to withhold tax from ‘rebates’ of the annual management charge made to most non-resident investors.
This follows the announcement in Revenue & Customs Brief 4/2013 that such payments to UK investors will be taxed at source from 2013/14 onwards. The change is being made to avoid discouraging offshore investors in UK funds.
The government is to amend the tax regulations on authorised investment funds and offshore funds to remove the duty to withhold tax from ‘rebates’ of the annual management charge made to most non-resident investors.
This follows the announcement in Revenue & Customs Brief 4/2013 that such payments to UK investors will be taxed at source from 2013/14 onwards. The change is being made to avoid discouraging offshore investors in UK funds.
