UK REPORTING FUND STATUS – RFS
London
Greater London
SW1Y 4JH
United Kingdom
What You Will Learn :
- Understand all the considerations and exceptions
- Learn about reporting funds and their obligations
- Learn how to prepare investors packs
- Understand the latest developments impacting fund reporting including Brexit, reform of capital gains tax and crypto asset funds
Description
The course is delivered as a virtual live class on 23 of May from 10 a.m. until 4.30 p.m. UK time. This is a unique opportunity to complete this programme remotely as we are resuming our classes in London soon. There is no VAT charge for companies based outside of the UK.
RFS regime provides preferential tax treatment to offshore funds that are registered with HMRC. Given UK’s importance as an investment jurisdiction, unsurprisingly nearly 75,000 sub-funds/share classes have been granted RFS by HMRC. Given the complexity of the RFS regime, there is significant risk for financial firms of non-compliance, reputational damage and costly remediation.
Asset and wealth-management groups, as well as their administrators and service providers, need to understand and properly operate the RFS regime. This course places the RFS into context, outlining how it came into its current form, its principal provisions and current challenges.
Participants will be guided on managing the emergent non-compliance risks and the application of appropriate controls. Drawing on the HMRC guidance, that was drafted under John Buckeridge’s direction, the course will provide the participants with practical learnings of how to effectively operate the RFS. This is a timely course for professionals within financial firms including front-line and investment operations staff, tax specialists, compliance and legal officers, and directors.
Who is this course for?
Designed and delivered by leading tax and operational experts, this is high quality training is designed for:
International Investment Management and Wealth Management firms
Custodians
Fund Administrators
Internal Audit
Finance & Tax Professionals
Operational staff
Offshore fund distribution managers
The training is targeted towards front-line client-facing staff members dealing with offshore fund distribution, finance, tax and operational staff leads who need to understand the intricacies of UK’s reporting fund regime, the capital gains and income tax reporting implication of offshore funds, the issuance of consolidated tax packs and reporting of excess reportable income. Internal audit staff and those directly dealing with HMRC audits are strongly advised to attend.
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