As part of its March 2020 Budget, the UK government announced that it would undertake a review of the UK’s funds regime. Since then, the UK government has gone on to publish a series of consultations and documents, committing to significant reform of both the tax and other regulatory aspects of the current regime. The overarching purpose of the call for input consultation is to identify and implement those reforms that will make the UK a more attractive location to set up, manage and administer funds. The UK considers that there is a clear policy justification for reform in this area and intends to take advantage of its post-Brexit flexibility.
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