SVM moves onshore after tax rules change

Professional Adviser
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SVM Asset Management (SVM) has moved three of the offshore funds in its Dublin Ucits structure onsh...

SVM Asset Management (SVM) has moved three of the offshore funds in its Dublin Ucits structure onshore in a bid to attract the attention of UK intermediaries and investors. The firm, which was called Scottish Value Asset Management before the move, decided there were disadvantages to remaining offshore after advance corporation tax rule changes a few years ago which caused dividends to be treated exactly the same for an offshore fund as for an onshore fund. Straight conversion to onshore funds was not an option for SVM because Dublin legislation gives a Ucits passport only to Dublin Uc...

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