In 2011 the government introduced measures drafted in conjunction with the asset management industry designed to facilitate investment into collective investment schemes, Among these measures were specific rules for life insurers transferring into such vehicles on or after 8 June 20131.
From that date no chargeable gain or allowable loss arises on an asset held for the purpose of a company's long-term business transferred to a co-ownership scheme or a relevant offshore fund within the meaning of the Offshore Funds (Tax) Regulations 2009, reg 3 in exchange for units in the scheme. Instead the company is treated as having
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Web page updated on 17 Mar 2025 15:14