The measure
The Government has announced it will review the double taxation treaty passport scheme to ensure it still meets the need of UK borrowers and foreign investors. It will also consult on whether the scheme should be extended to other types of foreign investor including sovereign wealth funds, pension funds and partnerships.
Who will be affected?
Changes to these rules could introduce further simplifications and ease administrative burdens for UK corporate borrowers.
When?
A consultation document will be released later in 2016.
Our view
The Government wants to increase foreign investment funds and investment management activity in the UK and we would expect an extension of these rules to support this.
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