FSA examining tax treatment gap

onshore and offshore tax treatments is among the proposals the Inland Revenue intends to investigate, as detailed in its consultation paper of 22 April. If the distinction between the taxation of onshore and offshore vehicles is eliminated, providers and intermediaries stand to benefit from a less complicated system and lower costs. A separate regime for offshore and onshore tax treatment has existed in the UK since 1984 and has changed very little since then. The Revenue is planning to consult with fund managers and other relevant parties on how the current regime for taxing offs...