For years, retail investment funds have been subject to corporation tax at a special rate of 20% – special, because for a long time, the main corporate rate was 30% or more. But recently, corporate rates have been gradually coming down, till at last, this summer we are told that the main rate will eventually go down to 18% by 2020.
But what about authorised investment funds? Are they to be included in the new bonanza for corporates? Or will they continue to be taxed at the same 20% rate?
(This article can be downloaded in pdf format at Academia.edu)