Detail of outcome
Seven responses were received from industry representative bodies, accountancy firms and a fund administrator, all supportive of the measure. Comments were confined to minor suggestions relevant to drafting.
The regulations to bring in the change were published on 29 December 2013.
A Tax Information and Impact Note was published on the same date.
The Government announced at Budget 2013 that it would consult on a proposals set out in this document.
HM Revenue & Customs would like to hear in particular from tax practitioners, fund managers, representative bodies, administrators and other interested parties.