HMRC are inviting comments on proposed measures to simplify the tax rules for unauthorised unit trusts (UUTs) and their investors, with a view to reducing administrative burdens and removing avoidance opportunities in what has been identified as a ‘high risk area of the tax code’.
Options set out in the consultation document include adopting a principle-based approach to non-exempt UUTs.
HMRC are inviting comments on proposed measures to simplify the tax rules for unauthorised unit trusts (UUTs) and their investors, with a view to reducing administrative burdens and removing avoidance opportunities in what has been identified as a ‘high risk area of the tax code’.
Options set out in the consultation document include adopting a principle-based approach to non-exempt UUTs.
