New definition of Offshore Funds – FA2008: Draft guidance for consultation
Draft guidance is published today for consultation purposes and to assist in understanding the effect of the new tax definition of an offshore fund in Finance Bill 2009.
Please see Clause 44 and Schedule 22 to the Finance Bill for the legislative material which this draft guidance comments upon.
Please note that this draft covers only the definition of an offshore fund and does not address matters to be dealt with in new offshore funds regulations. Draft guidance on regulations will be issued at a later date.
It is emphasised that this is a draft only and that it should not be relied upon at this stage as a final HMRC view of the effect of the Finance Bill Clause and accompanying Schedule.
Please send any comments by Friday 10 July to:
Wayne Strangwood
HM Revenue and Customs
CT &VAT, 3rd Floor
100 Parliament Street
London
SW1A 2BQ
email: Wayne Strangwood
Tel 020 7147 2545
