Saturday August 8, 2020

Here’s the one banana skin that could cause everyone problems in the budget

The government will fudge on reforms to special tax-reducing investment structures, writes Jack Horgan-Jones

11th October, 2016
The global funds industry is watching on nervously Pic: RollingNews

If there’s a banana skin for business in this budget, it could be reforms to the special tax-reducing investment structures known by those most unwieldy of acronyms: Icavs, Qifs, QIAIFs, etc. 

First of all, what on earth is an Icav? Or a Qif? Or a Qiaif? Well, they’re all subtly different structures which allow investors to extract profits while avoiding large chunks of tax. They were designed for the funds industry, which funnels cash through...

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