Distributor status for offshore funds

pre-budget report

The Government is to simplify the process for offshore funds to achieve distributor status and there...

The Government is to simplify the process for offshore funds to achieve distributor status and therefore face the same tax regime of UK-domiciled funds. While the detail of the proposals will be announced in next year's Finance Bill, the changes are expected to make it easier for groups to offer their offshore ranges on a tax-efficient basis to UK investors. As things stand, groups that wish to offer accumulation and income shares on offshore funds are forced to set up two separate umbrellas and the changes should allow them to consolidate these in a single range. Under the current regi...