Investment companies will benefit from a new tax framework announced in Alistair Darling's annual Budget report yesterday (April 22nd), according to the Association of Investment Companies (AIC).
To be introduced on September 1st, the government's new measures will help investment companies use bonds more tax-efficiently and will mean that bonds will be able to compete well with alternative structures, according to the AIC.
Measures such as these will also help to support the UK as an international financial centre.
Daniel Godfrey, director general of the AIC, said: "Securing this change has been a long-standing ambition of the AIC and we are delighted that today's announcement brings certainty to the outcome and the introduction of a new regime another step closer."
The group also praised the Isa limit increase from £7,200 to £10,200.
Financial services company Legal and General recently revealed that more advisers were recommending offshore bonds as sound investments.
Budget brings new tax framework for investment companies
Budget brings new tax framework for investment companies
Thu, 23 Apr 2009
Recommended links
Compare investments, savings, pensions and online sharesInvestments enquiry form
Review your investments
Bond investments
Convertible bonds good investments, expert claims
Corporate bonds are a good investment, expert claims
Expert predicts a tough year for UK equity markets
| Stocks & Shares news |
|---|
| Investors happy to make own decisions but lack SIPP knowledge, survey finds - Tue, 05 Apr 2011 |
| Investors put off switching Isas by low rates and fear of mistakes - Thu, 31 Mar 2011 |
| Investors shunning banks when taking out an Isa - Tue, 22 Mar 2011 |
| More News |
