Shearman & Sterling LLP | FinReg | HM Treasury Launches Consultation on UK Funds Regime
Financial Regulatory Developments Focus
This links to the home page
Financial Regulatory Developments Focus
  • HM Treasury Launches Consultation on UK Funds Regime

    HM Treasury has launched a consultation on a series of proposed reforms to the U.K.'s funds regime, as part of the U.K. Government's plans to make the U.K. a more attractive location for asset management. Responses to the consultation should be submitted by April 20, 2021.

    Key proposals cover:
    • The U.K.'s approach to funds regulation: HM Treasury is considering possible enhancements to areas such as fund authorization, the speed with which funds are able to launch and the U.K.'s Qualified Investor Scheme;
    • Opportunities for wider reform: HM Treasury is seeking input on how best to encourage funds to establish themselves in the U.K., how to spread the benefits of fund administration across the U.K., how to enhance existing fund structures and the potential of new fund structures; and
    • The U.K.'s approach to funds taxation: HM Treasury is considering whether improvements could be made to the U.K.'s system of funds taxation, including: (i) more appropriate taxation for multi-asset funds that hold a blend of equities and debt; (ii) radical changes such as a complete exemption from tax for authorized funds or an unauthorized tax-exempt fund structure for investment in alternative assets; and (iii) amendments to the U.K. VAT regime, which the Government is currently reviewing.

    View HM Treasury's consultation on the funds regime.

    Return to main website.  
    TOPIC: Funds