22 February 2008
Funds of alternative investment funds: a tax framework
The Government is today publishing a tax framework which will deliver a new tax regime for authorised investment funds (AIFs) investing into certain offshore funds.
The Treasury has worked closely with the Financial Services Authority (FSA) on this issue with the new tax regime aiming to remove tax as a barrier to commercial development of the FSA's proposed Fund of Alternative Investment Funds (FAIFs) rules.
The Government intends to publish draft regulations for consultation in Spring 2008 which will deliver this tax framework.
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