Tax elected funds | Practical Law

Tax elected funds | Practical Law

This practice note discusses the tax treatment of tax elected funds (TEFs), a form of authorised investment fund (that is, authorised unit trust or open-ended investment company), that elects to join a regime for direct tax exemption. It also considers the conditions that must be satisfied to elect to be a TEF and the tax treatment of investors.

Tax elected funds

Practical Law UK Practice Note 9-613-7525 (Approx. 16 pages)

Tax elected funds

by Laura Underhill, and Violet Marcel, Clifford Chance LLP tax group
MaintainedUnited Kingdom
This practice note discusses the tax treatment of tax elected funds (TEFs), a form of authorised investment fund (that is, authorised unit trust or open-ended investment company), that elects to join a regime for direct tax exemption. It also considers the conditions that must be satisfied to elect to be a TEF and the tax treatment of investors.