Tolley's Taxation of Collective Investment 4th Edn


Fourth edition, November 2016

Now in its Fourth Edition, Tolley's Taxation of Collective Investment has been fully updated to provide useful advice and wide-ranging coverage on the taxation of collective investment vehicles and investors in those vehicles.

The user-friendly, practical format explains in clear detail the taxation of the different collective investment vehicles available and examines the taxation issues affecting investors in the schemes as well as considering the taxation of pension fund investors and PAIFs.

The book also explains the different investment possibilities available from collective investment and the tax implications for the investor, thereby assisting in structuring such investment in the most tax-efficient manner.

The authors, who are all experts in their respective fields, are drawn from leading accountancy firms, City law firms, investment management industry trade bodies and the financial services industry itself. The editor has wide experience of this area, formerly as an external adviser and currently working in the financial services industry. He has also contributed to the tax work of several industry bodies including chairing the AUTIF and IMA tax committees.

This is an invaluable handbook for those who work in the area of investment management, both within the industry and outside of it, including tax accountants and solicitors.

Professional advisers who advise clients who may be fund operators, institutional investors or individual investors will find it essential reading in that it provides accessible coverage and indicates potential pitfalls for those who are not experts in this area.

The new edition has been expanded to include a new chapter on foreign taxes and incorporates all changes to the taxation of collective investments since the third edition was published in 2012, affecting both offshore and onshore funds. This includes changes to stamp duty reserve tax, the introduction of Authorised Contractual Schemes, the reform of the tax regime for unauthorised unit trusts, changes to pension reliefs, seeding relief from stamp duty land tax, changes to the taxation of carried interest and the expansion of reporting obligations relating to the automatic exchange of information.