The draft regulations set out tax rules for the Reserved Investor Fund, and make amendments to the tax rules for Co-ownership Authorised Contractual Schemes.
At Spring Budget 2024, the government published its response to the earlier Reserved Investor Fund (RIF) consultation and committed to start legislating for the RIF, in Spring Finance Bill 2024, with detailed tax rules to follow in secondary legislation. The government is now publishing draft regulations for consultation, which set out the proposed tax treatment of the RIF. Changes are also being proposed for Co-ownership Authorised Contractual Schemes (CoACS) to ensure that those tax rules work as intended, and to address points raised through the RIF policy consultation.
The technical consultation will run from 2nd April to 14th May 2024. These regulations will then be finalised once the consultation period has concluded, and may include amendments to reflect stakeholder comments or any further issues identified.