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

Rathbones looks for growth after year of internal focus during Investec merger

Rathbones looks for growth after year of internal focus during Investec merger

Growth in funds under management and administration to £115.6bn

Eve Maddock-Jones
clock 15 January 2026 • 3 min read
Brooks Macdonald returns to positive flows in Q2

Brooks Macdonald returns to positive flows in Q2

Funds under management/advice now top £20bn

Jenna Brown
clock 15 January 2026 • 2 min read
PA Awards 2026: Multi-asset shortlists revealed

PA Awards 2026: Multi-asset shortlists revealed

Championing excellence

Professional Adviser
clock 14 January 2026 • 2 min read