August 2 2021
The UK's tax reporting regime for offshore funds, known as UK Reporting Fund Status (UKRFS), can dramatically reduce a UK investor's tax bill. The HM Revenue & Customs (HMRC), maintains a public list of registered funds, so that investors can screen out non-reporting funds before they invest.
The result is that an the investor will receive a flat capital gains rate on disposal of a holding when an offshore fund has the UK reporting status.
Reitway Global is pleased to announce that the Reitway Global Property Fund (MLT) which is domiciled in Malta has been approved with effect on 1 August 2021 by the HMRC for UK Reporting Fund Status (UKRFS). The ultimate benefit of UKRFS to UK investors is a lower Capital Gains Tax rate on exiting an investment in the Fund. The current rate differential being 20% instead of the 45% imposed on non-reporting entities.