close

Practice

Business

Tax

Technology

Regulation

Resources

Rankings

Advertise With US

    Information

    UK funds are ‘less competitive’ than offshore rivals

    UK funds are 'less competitive' than offshore rivals

    KPMG warns that tax on trading profits is a disincentive for investors

    Author Date published April 21, 2009 Categories

    On the eve of the Budget, KPMG has warned that tax changes are needed to
    boost the competitiveness of UK funds versus their offshore competitors.

    Currently, UK investment funds can be taxed on trading profits, a practice
    which does not occur offshore. KPMG says this could be avoided by permitting
    trading funds to be established in the UK.

    It is also calling for the abolition of fund-specific stamp duties, which
    only applies to UK funds, therefore making it more difficult to market these
    funds overseas.

    Even subtle tax changes would have big revenue impacts. Previous research
    KPMG undertook concluded that for every £1bn of funds under management in the
    UK, nearly £1m of tax revenue is generated.

    Share

    Subscribe to get your daily business insights

    Get the latest analysis and reports delivered to your inbox daily

    Resources & Whitepapers

    Resources & Whitepapers

    The importance of UX in accounts payable: Often overlooked, always essential
    AP

    The importance of UX in accounts payable: Often overlooked, always essentia...

    2m Kloo

    The importance of UX in accounts payable: Often ov...

    Embracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...

    View article
    The power of customisation in accounting systems
    Accounting Software

    The power of customisation in accounting systems

    2m Kloo

    The power of customisation in accounting systems

    Organisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...

    View article
    Turn Accounts Payable into a value-engine
    Accounting Firms

    Turn Accounts Payable into a value-engine

    3y Accountancy Age

    Turn Accounts Payable into a value-engine

    In a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...

    View resource
    8 Key metrics to measure to optimise accounts payable efficiency
    AP

    8 Key metrics to measure to optimise accounts payable efficiency

    2m Kloo

    8 Key metrics to measure to optimise accounts paya...

    Discover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...

    View article

    Related Articles

    Businesses save £1.4 billion in corporation tax through Patent Box scheme
    Corporate Tax

    Businesses save £1.4 billion in corporation tax through Patent Box scheme

    2m Accountancy Age

    Businesses save £1.4 billion in corporation tax th...

    The amount of tax saved by businesses through HMRC’s Patent Box scheme has increased by 23% over the last five years, from £1.14 billion in 2017/18 to...

    View article
    Jeremy Hunt hints at further tax cuts at Davos: What accountants need to know
    Budget

    Jeremy Hunt hints at further tax cuts at Davos: What accountants need to kn...

    3m Rachael Kennedy

    Jeremy Hunt hints at further tax cuts at Davos: Wh...

    UK Chancellor Jeremy Hunt has hinted at the possibility of further tax cuts in the upcoming spring Budget, during his time at the World Economic Forum...

    View article
    84% of tax professionals fear double taxation as Pillar 2 looms
    Corporate Tax

    84% of tax professionals fear double taxation as Pillar 2 looms

    3m Accountancy Age

    84% of tax professionals fear double taxation as P...

    The legislation, which introduces a global minimum tax of at least 15% for multinational enterprises, aims to limit tax competition and ensure large c...

    View article
    UK Accountants brace for significant tax changes in 2024
    Administration

    UK Accountants brace for significant tax changes in 2024

    4m Accountancy Age

    UK Accountants brace for significant tax changes i...

    The upcoming tax changes in 2024 will significantly impact businesses and individuals in the UK. Accountants play a crucial role in helping clients na...

    View article
    What should accountants take away from Amazon's $270 million tax win?
    Business

    What should accountants take away from Amazon's $270 million tax win?

    4m Accountancy Age

    What should accountants take away from Amazon's $2...

    Accountants must stay vigilant, adapt their tax strategies to evolving regulations, prioritize transparency, and foster collaboration with tax authori...

    View article
    Sunak employs Thatcher-like tactics with taxation shift
    Corporate Tax

    Sunak employs Thatcher-like tactics with taxation shift

    4m Accountancy Age

    Sunak employs Thatcher-like tactics with taxation ...

    As the government prepares for re-election, PM Sunak promises to control spending in order to bring forth tax cuts next year Read More...

    View article
    Hint of future tax reductions welcomed but won’t quell uncertainty
    Business

    Hint of future tax reductions welcomed but won’t quell uncertainty

    11m Greg Noble

    Hint of future tax reductions welcomed but won’t q...

    The Office for National Statistics revealed that the UK economy shrank by 0.3% in March after the economy grew by 0.1% in the previous three months Re...

    View article
    Dave Chaplin: ‘IR35 is a growth issue for the Tories’
    Budget

    Dave Chaplin: ‘IR35 is a growth issue for the Tories’

    1y Sam Alberti

    Dave Chaplin: ‘IR35 is a growth issue for the Tori...

    As the Spring Budget approaches, dissenters of the UK government’s increasingly complex contractor legislation are baying for change. HMRC has already...

    View article