http://www.legislation.gov.uk/uksi/2009/3001/contents/made
The Offshore Funds (Tax) Regulations 2009
Income tax
Tax
Income
Investment
Charities
en
King's Printer of Acts of Parliament
2018-03-02
INCOME TAX
CORPORATION TAX
CAPITAL GAINS TAX
Sections 41 and 42 of the Finance Act 2008 (c. 9), (which have since been amended and supplemented by provisions contained in Part 1 of Schedule 22 to the Finance Act 2009 (c. 10)), make provision for the tax treatment of participants in offshore funds. Section 41(1) of the Finance Act 2008 provides that the Treasury may by regulations make provision about the treatment of participants in an offshore fund for the purposes of enactments relating to income tax, capital gains tax or corporation tax; and section 42(3) of the Finance Act 2008 (as amended) envisages that the previous legislation relating to offshore funds (to be found in Chapter 5 of Part 17 to the Income and Corporation Taxes Act 1988 (c. 1)) may be repealed. These Regulations make provision accordingly.
The Offshore Funds (Tax) Regulations 2009