IMA encourages UK funds competition

Referring to a previously published report on the impact of taxation on the domicile of funds, the body stressed that business will continue to be lost to Dublin and Luxembourg and the opportunity for the UK to become a significant fund centre diminished, with the consequent loss of revenue for the Exchequer, unless action is taken to counter this. The IMA acknowledged that progress is being made on property authorised funds, though called for more to be done on issues such as repeal of stamp duty reserve tax and introducing certainty that the use of derivatives by authorised investment ...