25 Feb 2020

HMRC have just announced that fund managers are now able to make the following elections online:

  • Transparency elections for offshore collective investment vehicles under Paragraph 8 of Schedule 5AAA of the Taxation of Chargeable Gains Act 1992; 
  • Exemption elections for offshore collective investment vehicles under Paragraph 12 (2) of Schedule 5AAA of the Taxation of Chargeable Gains Act 1992; and 
  • Exemption elections for qualifying companies under Paragraph 12 (3) of Schedule 5AAA of the Taxation of Chargeable Gains Act 1992.

In addition, HMRC have added pages to GOV.UK to give details of the process for making the annual reports required to maintain exemption elections under Paragraph 12 (2) and (3) of Schedule 5AAA of the Taxation of Chargeable Gains Act 1992.

You can find the relevant information, forms and template by going to GOV.UK and searching ‘Transparency and exemption elections for collective investment vehicles’’

For any enquiries, please contact HMRC as follows:

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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.

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