HMRC has put forward amendments to the Authorised Investment Funds (Tax) Regulations 2006 and also The Offshore Funds (Tax) Regulations 2009.
The amendments set out by HMRC will remove the duty to withhold tax from rebates of the annual management charge in most cases where these payments are made to investors who are not UK resident for tax purposes.
Advisers have until 25 June to email their comments to john.buckeridge@hmrc.gsi.gov.uk.
To read FTAdviser’s Regulation Tracker summary of the amendments click here.
