Briefing - Investment Undertakings (The Finance Act 2008), 27th March 2008
27.03.2008
The Finance Act 2008 contains good news for the funds industry as it will ease the tax administration burden arising out of the deemed disposal rules introduced in the Finance Act 2006. The Act also extends relief for reconstructions and amalgamations of funds to include reconstructions / amalgamations of umbrella funds. Finally, it also contains measures to disallow relief from capital gains tax on a transfer of assets between companies designed to prevent assets being transferred to Irish funds tax efficiently so as to facilitate a future sale of those assets.
