online

Property funds held in offshore bonds by UK residents - final outcome

As previously communicated, HMRC legislation that came into force in April 2019 meant ‘UK property rich funds’ held in an offshore bond became subject to UK corporation tax on any gains on disposal.

The original legislation had consequences for UK residents with offshore bonds invested in ‘UK property rich funds’ as although the investor was UK resident, the offshore bond company was classed as the non-resident ‘beneficial owner’.

If you’re not a client, to read this content you must sign up for a free guest account

Clients of threesixty are kept up to speed with the latest regulatory, industry and technical developments via our regular news and opinions articles.

As well as being updated via the articles we publish to threesixty online, clients can specify to us what type of articles they want to receive (by category) and how frequently they receive them.

To try this service, simply register your details with us and we'll give you 3 months free and unlimited access to our news and opinions.