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Overview

At a time of considerable uncertainty in investment markets, with investor confidence relatively low and appetite for risk understandably depressed, the importance of minimising tax on returns that are achieved is significantly increased.

The main investment wrapper choices all continue to exist largely untouched by the proposals for tax change in this years&#39 Budget.

We cover pensions and life assurance policies elsewhere in this bulletin but in this section we will look at

  • ISAs
  • OEICs and unit trusts
  • Offshore funds
  • The new Child Trust Fund
  • Court Common Investment Funds

and

  • VCT/EIS

6.2 ISAs AND PEPs

No changes have been proposed to ISAs or PEPs.

6.3 OEICS, UNIT TRUSTS, INVESTMENT TRUSTS AND PORTFOLIO MANAGEMENT ACCOUNTS (AKA &#34Platforms&#34 or “Wrap Accounts”)

(i) For UK Investors

No changes have been proposed that affect UK investors.

6.4 OFFSHORE FUNDS

After the Budget last year a consultation document on offshore funds was published. This proposed, among other things the assessment of income arising under certain offshore roll up (non distributor) funds on an arising basis.

This Budget appears not to have taken further (at least at this stage) any of these proposals.

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