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An analysis by Travers Smith, Taxand UK
HMRC has published the final version of its updated guidance on the application of the UK’s investment manager exemption. The investment manager exemption helps ensure that UK-based managers do not create a taxable presence for their non-resident clients. As well as reflecting recent legislative changes, the guidance offers important insight into HMRC’s interpretation and application of the exemption, giving businesses greater certainty on its use.
In addition to the investment manager exemption legislation, HMRC issued a statement of practice setting out how it considers the investment manager exemption should be applied in practice.
Tax experts, Elena Rowlands, Tom Margesson, and Ian Zeider from our UK member firm Travers Smith analyse the background of the investment manager exception and provide an overview of the changes to HMRC’s statement of practice, which you can read here.
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