Commentary

D7.451 Gains from VCIPs—fund of funds

Corporate tax
Corporate tax | Commentary

D7.451 Gains from VCIPs—fund of funds

Corporate tax | Commentary

D7.451 Gains from VCIPs—fund of funds

If an insurance company invests in a VCIP which itself invests by way of a capital contribution in another VCIP, the first investment is looked through to the underlying investment in unquoted shares or securities1. This allows for investments in VCIPs which themselves invest in other such VCIPs on a 'fund of funds' basis.

The Treasury may make regulations that make provisions for fund of fund type investments similar to the main legislation2 for such VCIPs but has not yet done so.

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