The Spring Budget confirmed the introduction of a new Reserved Investor Fund (RIF) with draft enabling legislation included in the Finance (No. 2) Bill 2024. Subsequently the government has launched a consultation on draft regulations which set out the detailed tax rules governing RIFs. Broadly modelled on the existing Co-ownership Authorised Contractual Schemes the RIF’s principal advantages over existing UK structures include its unauthorised status which means that the fund will be able to invest in a wider variety of asset classes under a more flexible investment strategy and favourable tax environment enhancing the UK’s attractiveness as a location for asset management and fund domicile. To qualify as a RIF the fund must have a UK-base that is open to professional or large investors and among other requirements satisfy the categories of being a co-ownership scheme and an Alternative Investment Fund. The...
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The Spring Budget confirmed the introduction of a new Reserved Investor Fund (RIF) with draft enabling legislation included in the Finance (No. 2) Bill 2024. Subsequently the government has launched a consultation on draft regulations which set out the detailed tax rules governing RIFs. Broadly modelled on the existing Co-ownership Authorised Contractual Schemes the RIF’s principal advantages over existing UK structures include its unauthorised status which means that the fund will be able to invest in a wider variety of asset classes under a more flexible investment strategy and favourable tax environment enhancing the UK’s attractiveness as a location for asset management and fund domicile. To qualify as a RIF the fund must have a UK-base that is open to professional or large investors and among other requirements satisfy the categories of being a co-ownership scheme and an Alternative Investment Fund. The...
If you are not a subscriber, subscribe now to read this content.
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