Contributed By Travers Smith LLP
As can be seen from the previous discussions, there are a variety of different UK fund structures available. As a general point, an important concept in the way that the UK deals with UK investment funds from a tax perspective is that investors should, as far as possible, be put in the same position as if they had invested directly in the underlying assets. This is typically achieved either through tax transparency or by the availability of special tax regimes. A high-level overview of some of the key direct tax features of some of the most common types of fund structure is set out later in this Chapter.