Recent changes to the UK tax treatment of funds have significantly enhanced their international competitiveness. Steve Lynam summarises the current state of play.
The UK has always been an attractive location for investment management. However in recent years there has been an increasing trend for funds to be located in Luxembourg and Ireland and certain administrative and other professional and support services have followed.
Traditionally each Member State’s fund management industry was domestic and largely immune from external competitive pressures. This started to change following the introduction in 1985 of the first Undertakings for Collective Investment in Transferable Securities (UCITS) Directive. (The latest version of this Directive is commonly known as ‘UCITS III’.)
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Recent changes to the UK tax treatment of funds have significantly enhanced their international competitiveness. Steve Lynam summarises the current state of play.
The UK has always been an attractive location for investment management. However in recent years there has been an increasing trend for funds to be located in Luxembourg and Ireland and certain administrative and other professional and support services have followed.
Traditionally each Member State’s fund management industry was domestic and largely immune from external competitive pressures. This started to change following the introduction in 1985 of the first Undertakings for Collective Investment in Transferable Securities (UCITS) Directive. (The latest version of this Directive is commonly known as ‘UCITS III’.)
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
