28 Aug 2020

A high level summary of what's being discussed in recent committee meetings:

  • The Tax committee continue discussions with members on relevant consultations including the HMT/HMRC consultation on the Tax treatment of Asset Holding Companies. See more information here.
  • The Tax Committee will convene shortly to go through this important and relevant review of the UK’s fund regime, in order to agree key areas for consideration and next steps. See more information here
  • The Committee has been discussing the draft guidance issued by HMRC on taxing gains made by non-residents on UK immovable property, particularly the guidance for collective investment schemes and continue discussions with HMRC to obtain further clarity.  See the latest news here
  • VAT registered businesses with a taxable turnover above the VAT threshold are required to use the Making Tax Digital service to keep records digitally and use software to submit their VAT returns from 1 April 2019. This date has been pushed back to 1 October 2019 for specified businesses with “more complex requirements” as specified by HMRC.  

Next meeting: 12th October 2020

View more on the committee here.

Author

Christopher Austin

Christopher Austin

Head of Tax, Private Assets, Schroders

Christopher is an experienced tax advisor with over 20 years experience in the investment management industry.  He has been at Schroders since April 2006 and has expertise in a wide range of international taxes. Before Schroders he was at Deloitte for 8 years where he qualified as a Chartered Accountant and Chartered Tax Adviser, working in the banking, investment management, and real estate sectors as well as a period working on tax policy.
 
Christopher’s current focus is supporting the growth of the Private Assets business within Schroders through close working with the investment and product teams to meet investors' objectives and manage tax risks effectively, and providing tax due diligence and transaction support on acquisitions, both for the Schroders group and on behalf of investors.