Authorised investment funds (AUTs and OEICs)

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FORTHCOMING CHANGE relating to the modernisation of stamp taxes on securities framework: Stamp duty and SDRT will, in 2027, be replaced with a single, self-assessed tax on transfers of securities, the securities transfer tax (STT) (formerly referred to as the securities transfer charge or STC), that will be paid (and reported) through electronic transfer systems such as CREST or, where appropriate, a new online portal. Draft legislation for the STT was published on 13 July 2026, along with explanatory notes, a policy paper and the outcome of the higher rate 1.5% stamp tax consultation. For more information on the STT and the modernisation of stamp taxes on securities, see News Analyses: Legislation Day: Draft Finance Bill 2027—Tax analysis—Stamp and transfer taxes, Budget 2025—Tax analysis—Stamp and transfer taxes, Tax update spring 2025—Stamp taxes on shares modernisation, Tax update spring 2025—Tax analysis—Stamp and transfer taxes, TAMD 2023—Stamp taxes on shares modernisation, TAMD 2023—consultation—stamp taxes on shares and Tax Administration and Maintenance Day—27 April 2023—Stamp and transfer taxes.

What are authorised investment funds (AIFs)?

An ‘authorised investment fund’ (often abbreviated to...

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