The Chancellor of the Exchequer’s Budget on 22 November 2017 contained few measures of immediate concern to the asset management industry. 

A consultation document (here) has been published on the taxation of gains made by non-resident investors from interests in UK real property which would affect non-resident funds and other investors. A number of technical changes have been announced to existing legislation on hybrid instruments and entities and on interest relief restrictions which may address concerns that had been put to HMRC – the draft Finance Bill legislation is not yet available.

For further information, please contact Paul Hale.