02 October 2009

HMRC - The Offshore Funds (Tax) Regulations 2009: Draft guidance for consultation

Draft guidance is published consultation purposes and to assist in understanding the effect of The Offshore Fund (Tax) Regulations 2009, which were published in draft form on 4 September 2009.

The Regulations are subject to affirmative resolution of the House of Commons. It is emphasised that this guidance on the Regulations is a draft only and that it should not be relied upon at this stage as a final HMRC view of the Regulations.

Comments on the guidance are welcome (please see below for contact details).

Please note that this draft covers only the offshore funds regulations. Draft guidance on the definition of an offshore fund was published on the HMRC website on 11 May 2009, and will be updated in a new Offshore Funds Manual once comments received on the regulations have been considered.

The draft guidance is published here as three separate documents: ‘Draft Offshore Funds Manual – Introduction’, ‘Draft Offshore Funds Manual – UK Investors in Non-Reporting Funds’, and ‘Draft Offshore Funds Manual – Reporting Funds & UK Investors’. We are sorry that the links within the guidance will not work at this stage and it is necessary to search within the document to find particular pages of guidance. A guidance map is also published to assist in navigating the document. The links will be operational in the final guidance.

Please send any comments by Friday 7 November to:

Wayne Strangwood
HM Revenue and Customs
CT &VAT, 3rd Floor
100 Parliament Street
London
SW1A 2BQ

Tel 020 7147 2545

The draft guidance can be accessed via the following links –

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