Commentary

D8.150 Overview

Corporate tax
Corporate tax | Commentary

D8.150 Overview

Corporate tax | Commentary

Funds investing in non-reporting offshore funds

D8.150 Overview

Specific rules were introduced to deal with funds investing in non-reporting offshore funds (FINROFs)1. The rules came into effect on 6 March 2010 but apply to funds which meet the 'investment condition' (D8.151) on that date with effect from 6 July 2010 (and such funds are treated as first meeting the condition on the latter date)2.

Broadly, the provisions ensure that on the disposal of units in such funds a tax charge is imposed on the UK-resident investor, as opposed to the authorised investment fund itself3. For details see D8.152. For co-ownership

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