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Offshore Collectives - Coggle Diagram
Offshore Collectives
Reporting Funds
reports to HMRC
of all income
retains this status
until complies
UK investors are subject to income tax
whether its distributed or not
Equity
taxed as UK dividend
eligible to £2000 divi allowance
Interest
taxed as UK income
eligible to SPA
any profit on disposal
CGT - UK rates
Non Reporting funds
ie. if not obtained reporting status
income is accumulated.
taxed only on disposal
the gain is calc on CGT principles
incl, on death.
no CGT exempt amount
BUT subject to Income Tax!
no SPA or DA or starting rate of Saving Income applicable
set up in countries with little or no taxation
Isle of Man, Luxembourg
suitable for certain investors
such as who are no resident in UK
withholding tax