Non-UK residents to have tax exemption extended

Professional Adviser
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tax & jurisdiction

Non-residents who make use of UK-based investment managers will have their exemption of UK tax liabilities extended, following minor changes to rules in the Finance Act 1995 and the Finance Act 2003. The scope of the changes, which will apply from 12 September, is to reflect developments in the financial markets. There are long-standing tax rules (known as the investment managers' exemption), which mean, provided strict conditions are met, non-resident investors do not risk being exposed to unexpected UK tax liabilities. One of the conditions set out in the tax rules is that the busin...

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