The UK-based Qualified Investor Schemes (QIS) and the whole specialist fund industry in the UK could...
The UK-based Qualified Investor Schemes (QIS) and the whole specialist fund industry in the UK could be under threat following proposals by the Inland Revenue for individuals to face a yearly tax on growth in any fund in which they have more than a 10% stake. Present proposals by the Inland Revenue suggest individual investors could be hit with a 40% year-on-year tax without realisation of any parts of the fund, if they own more than 10% of it at any stage of their investment term. Camilla Spielman, senior associate at Eversheds, said: "This is quite a problem. Specialist funds by thei...
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