Authorised contractual scheme (ACS) | Practical Law
Authorised contractual scheme (ACS)
Enter to open, tab to navigate, enter to select
US Home
Global Home
NEW
Sign in
Sign in
All content
Search:
Search Westlaw
Search Tips
Advanced
Authorised contractual scheme (ACS)
Practical Law UK Glossary 8-550-7085
(Approx. 3 pages)
Glossary
Authorised contractual scheme (ACS)
A regulated, UK domiciled, tax transparent vehicle established under the
Collective Investment in Transferable Securities (Contractual Scheme) Regulations 2013 (SI 2013/1388)
. An ACS can be established as a co-ownership scheme or a limited partnership scheme and may be a:
UCITS
.
Non-UCITS retail scheme (NURS).
Qualified investor scheme (QIS).
The introduction of ACSs was announced in the 2011 Budget, at which time the vehicle was referred to as a tax transparent fund (TTF). For the tax treatment of an ACS, see
Practice note, Authorised contractual schemes: tax
.