Gross share class would enhance tax regime gain

TAX

As of April next year fund management groups will have to make gross payments to non tax payers, and the best way to do this would be via a gross share class

A new tax regime is being introduced for unit trusts and Oeics. Among the changes being made, gross payments from some types of funds will become compulsory for some investors. These changes offer intermediaries the opportunity to review their clients' tax affairs and potentially make some savings. Some of the changes, which are set out in the Authorised Investment Funds (Tax) Regulations 2006, have been brought in for the 2006/07 tax year, but the most significant change is being held back until April 2007. This change forces fund managers to make gross payments from some types of funds ...