AIC welcomes ITC proposals

Daniel Godfrey, director general of the AIC, was supportive of the proposals, which will re-establish bonds as an attractive asset class for ITCs. "They will allow investment in company bonds, gilts and other assets without adverse tax consequences where the boards want this exposure to deliver returns for shareholders. Reform will create new opportunities for investment trusts to meet changing consumer needs," he said. The Treasury's consultation document sets out four objectives: allowing ITCs to invest tax-efficiently in bonds and other interest producing assets, ensuring UK investors ...