HMRC is consulting until 16 September 2013 on adding two new terms to the investment manager exemption ‘white list’ of transactions, i.e. those carried out by non-resident funds and not taxed in the UK as trading activities of the fund. The first addition, ‘any transaction in rights under a life insurance policy’ would cover investment in traded US life policies; the second, ‘any transferable unit relating to emissions of greenhouse gases’ would broaden the range of carbon credits covered by the exemption.
HMRC is consulting until 16 September 2013 on adding two new terms to the investment manager exemption ‘white list’ of transactions, i.e. those carried out by non-resident funds and not taxed in the UK as trading activities of the fund. The first addition, ‘any transaction in rights under a life insurance policy’ would cover investment in traded US life policies; the second, ‘any transferable unit relating to emissions of greenhouse gases’ would broaden the range of carbon credits covered by the exemption.
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