05 Mar 2021

HMT published a consultation in March 2020 exploring whether changes to the tax treatment of companies used by funds to hold assets could make the UK a more attractive location for these companies. AREF’s response to this can be found here.

In December 2020, HMT published their response and a second stage consultation. In this they summarised the responses submitted to the initial consultation and outlined the Government’s response. They believed that there was a strong case for change in this area and therefore, launched a second stage consultation on detailed design features of a new regime for asset holding companies (AHCs). The consultation also considered targeted changes to the REIT regime. AREF's response to this second consultation can be found here.

The Government plan to publish draft legislation during 2021 and then, after allowing for a period of technical consultation, include it in the Finance Bill.


Anshita Joshi

Anshita Joshi

Tax Advisor, AREF

Anshita Joshi is the Tax Advisor at AREF and is responsible for developing and leading AREF’s tax agenda on issues relating to corporate and fund tax matters including VAT and withholding taxes. Anshita has over 15 years of experience in dealing with investment management tax matters, having previously at PwC as a Senior Manager in the asset management tax team.