The UK’s budget for 2015 brought with it confirmation that rules combating disguised management fees will be brought into effect from 6 April this year. According to the materials accompanying the Budget, the draft legislation, which was published at the close of 2014, has been revised to better reflect industry practice on performance related returns and to restrict the charge on non-UK residents to UK duties.
On 25 March, the UK government published the final draft legislation. Lawyers from Debevoise hosted a live webinar discussing the key issues involved, including:
- how the draft legislation works;
- how the draft legislation affects common fund structures; and
- next steps.
To access a recording of the webinar, please click here.