Eloise Walker looks at the practical problems thrown up by the new offshore funds rules
The new offshore fund rules have been here for a while now. FA 2008 introduced the new regime. A new definition of ‘offshore fund’ took effect pursuant to FA 2009. Detailed provisions came from the Offshore Funds (Tax) Regulations SI 2009/3001 to put us all in a new world from 1 December 2009. Additional amendments to fix some problems came in the form of the Offshore Funds (Tax) Amendment Regulations SI 2011/1211. Funds are now wrestling with the new rules in practice.
The purpose of this article isn't to trot through a detailed overview of the regime but for the...
