HMRC is consulting on draft regulations setting out proposed tax rules for the new reserved investor fund (RIF) and amending the tax rules for Co-ownership Authorised Contractual Schemes (CoACS). These are the regulations envisaged by clause 20 of Finance (No. 2) Bill 2024 (which will become Finance (No. 2) Act 2024), setting out the detailed provisions. The regulations introduce the new rules for RIFs by amending existing CoACS legislation, extending or modifying the application of those provisions in relation to RIFs. HMRC’s tax information and impact note, published at Spring Budget 2024, sets out the background to the changes. HMRC has not yet confirmed the date on which the regulations will come into force.
HMRC is consulting on draft regulations setting out proposed tax rules for the new reserved investor fund (RIF) and amending the tax rules for Co-ownership Authorised Contractual Schemes (CoACS). These are the regulations envisaged by clause 20 of Finance (No. 2) Bill 2024 (which will become Finance (No. 2) Act 2024), setting out the detailed provisions. The regulations introduce the new rules for RIFs by amending existing CoACS legislation, extending or modifying the application of those provisions in relation to RIFs. HMRC’s tax information and impact note, published at Spring Budget 2024, sets out the background to the changes. HMRC has not yet confirmed the date on which the regulations will come into force.
