HMRC has added the new Investment funds manual (IFM) to its collection of internal guidance manuals.
This manual includes HMRC’s direct tax guidance on the following types of investment fund:
authorised investment funds (authorised unit trusts and open-ended investment companies) authorised by the Financial Conduct Authority;
authorised contractual schemes authorised by the Financial Conduct Authority;
unauthorised unit trusts;
offshore funds;
investment trusts; and
real estate investment trusts.
It provides guidance on the tax position of investors in these funds, and on non-resident capital gains for collective investment vehicles.
The new manual replaces older guidance contained in the Corporation tax manual, Offshore funds manual, Savings and investment manual, and various pieces of draft and temporary guidance on specific issues.
HMRC has added the new Investment funds manual (IFM) to its collection of internal guidance manuals.
This manual includes HMRC’s direct tax guidance on the following types of investment fund:
authorised investment funds (authorised unit trusts and open-ended investment companies) authorised by the Financial Conduct Authority;
authorised contractual schemes authorised by the Financial Conduct Authority;
unauthorised unit trusts;
offshore funds;
investment trusts; and
real estate investment trusts.
It provides guidance on the tax position of investors in these funds, and on non-resident capital gains for collective investment vehicles.
The new manual replaces older guidance contained in the Corporation tax manual, Offshore funds manual, Savings and investment manual, and various pieces of draft and temporary guidance on specific issues.
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