Budget 2010: Tax change allows UK to compete for funds - IMA

clock

The IMA has applauded the Government's move to amend tax rules it says is forcing groups to domicile funds away from the UK.

In today's Budget, the Treasury says it will alter the fund-specific Schedule 19 Stamp Duty Reserve Tax regime. The tax affects only UK-authorised funds and is in addition to SDRT paid on funds' acquisitions of UK equities. In particular, it is currently paid by UK funds investing in other funds, even where those other funds are not invested in UK equities. It is this element of the tax that is to be removed, which the IMA says will enable UK-domiciled funds to compete on a level playing field with offshore funds. Alistair Darling has also announced the Government intends to launc...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Trian and General Catalyst to purchase Janus Henderson for $7.4bn

Trian and General Catalyst to purchase Janus Henderson for $7.4bn

Will continue to be led by current management team

Patrick Brusnahan
clock 23 December 2025 • 2 min read
2025 reflections: How strong companies trumped politics

2025 reflections: How strong companies trumped politics

Fears of an AI market bubble persist

Ryan Hughes
clock 23 December 2025 • 3 min read
What does 2026 hold for investment?

What does 2026 hold for investment?

‘The disruptors of yesterday are now the establishment’

Jen Frost
clock 17 December 2025 • 3 min read