Overseas sales of UK funds made easier

Professional Adviser
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The Inland Revenue has removed two major barriers to UK investment funds being sold overseas. The me...

The Inland Revenue has removed two major barriers to UK investment funds being sold overseas. The measures, applied retrospectively from 16 October 2002, are designed to make it more attractive for foreign investors to buy UK products. Effective from that date, the Revenue has made it easier for foreign investors to receive interest distributions from authorised unit trusts and Oeics gross of income tax, as long as they invest through a reputable intermediary. Under previous regulations, overseas investors were able to receive interest from UK investment funds gross of tax if they comp...

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