Draft guidance has been released by HMRC to assist in understanding the effect of The Offshore Fund (Tax) Regulations 2009, which were published in draft form on 4 September 2009 and have still to be agreed by the House of Commons.
The new guidance covers only the offshore funds regulations. Draft guidance on the definition of an offshore fund was published in May 2009.
Comments should be sent by 7 November to Wayne Strangwood, HMRC, CT & VAT, 3rd Floor, 100 Parliament Street, London SW1A 2BQ, or by email.