The Offshore Funds (Tax) (Amendment No. 3) Regulations 2013, SI 2013/1770 come into force on 7 August 2013. The regulations take effect for income tax purposes from 2013-14.
SI 2013/1770 amends the Offshore Funds (Tax) Regulations 2009, SI 2009/3001 (the principal regulations).
The effect of the amendments is to disapply the duty to withhold tax on annual payments made to non-resident participants in offshore funds where certain conditions are met.
The regulations also set out …