CIOT, STEP, ICAEW and the Law Society have posted an updated version of their questions and answers in relation to mixed fund cleansing, following further comments received from HMRC.
These Q&As highlight areas of uncertainty in the deemed domicile legislation introduced with effect from 6 April 2017. Drafts have been prepared for the provisions on trust protections, mixed fund cleansing, rebasing and the extension of IHT to overseas property representing UK residential property interests. HMRC has not yet commented on any of the other drafts.
CIOT, STEP, ICAEW and the Law Society have posted an updated version of their questions and answers in relation to mixed fund cleansing, following further comments received from HMRC.
These Q&As highlight areas of uncertainty in the deemed domicile legislation introduced with effect from 6 April 2017. Drafts have been prepared for the provisions on trust protections, mixed fund cleansing, rebasing and the extension of IHT to overseas property representing UK residential property interests. HMRC has not yet commented on any of the other drafts.
