• UK Investment Manager Exemption
  • November 28, 2006 | Author: Keith Featherstone
  • Law Firm: Fried, Frank, Harris, Shriver & Jacobson (London) LLP - London Office
  • Where a non-UK resident is trading in certain classes of investments in the UK, provided that trade is carried on through an investment manager who is acting as an independent agent the UK will not seek to tax that non-UK resident. This exemption has been in place broadly in its current form since 1995, and the UK tax authorities ("HMRC") issued a Statement of Practice in 2001 to explain the application of the legislation.