<p>Filter Knowledge</p>

Find the latest news, views and our analysis of all the key announcements.

Our regular round-up of recent and forthcoming developments in law and practice for in-house counsel.

Our regular round-up of recent and forthcoming developments in law and practice for in-house counsel.

Find the latest news, views and our analysis of all the key announcements.

Find the latest news, views and our analysis of all the key announcements.

Our regular round-up of recent and forthcoming developments in law and practice for in-house counsel.

Since April 2022, the UK has had a new tax efficient vehicle – the Qualifying Asset Holding Company (QAHC). This is a key change in the UK’s tax strategy for asset management, part of a wide-ranging review into the UK funds landscape being carried out by the government, designed to enhance the UK’s attractiveness to the sector. The QAHC allows the UK to compete with vehicles on offer in rival European fund centres, in particular Luxembourg and Ireland.

Our regular round-up of recent and forthcoming developments in law and practice for in-house counsel.

Find the latest news, views and our analysis of all the key announcements.

In today's Budget, the government has confirmed that it will make welcome amendments to the UK's rules for qualifying asset holding companies (QAHCs).  Several of the key reforms were announced on "L Day" last July, including proposals to improve access to the regime for corporate funds and where parallel and aggregator funds are used.

Welcome to the inaugural edition of the Travers Smith Infrastructure newsletter.

^{This briefing was updated on 22 July 2022}

The EU has published a draft directive designed to help address the perceived bias in favour of debt funding companies as compared with equity and, accordingly, promote financial stability. 

Our regular round-up of recent and forthcoming developments in law and practice for in-house counsel.

A regular briefing for the alternative asset management industry. 

It is certainly a busy time for those in the real estate sector with an interest in tax matters. Next month (April) sees the introduction of the residential property developer tax (RPDT), changes to the REIT rules and the introduction of the qualifying asset holding company (QAHC) regime.

In a bid to bolster its attractiveness to the asset management sector, the UK is introducing a new tax efficient vehicle: the qualifying asset holding company (“QAHC”, pronounced “quack”). The elective regime will be introduced in April 2022 and, by providing a simplified basis of taxation and a host of generous tax benefits, should allow the UK to compete with Luxembourg and other competitor jurisdictions.

There is a lot going on in the world of tax which will be of interest to those in the asset management sector. Relevant developments include international projects (such as the ongoing push to implement the OECD’s Pillar One and Pillar Two proposals and the publication of the EU’s shell entity proposals) but the domestic UK position should not be overlooked, with several exciting initiatives in train.

For nearly two years the government has been conducting a review of the UK funds regime (the Review) with the aim of making the UK a more attractive location to set up, manage and administer funds and to support a wider range of more efficient investments better suited to investor needs. This review had already yielded some tangible results, in particular the recent introduction of the Long-Term Asset Fund (LTAF) and the development of the new tax regime for qualifying asset holding companies (QAHCs) which is due to come into force in April.