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ARTICLE · 04 SEPTEMBER 2023

Qualifying Asset Holding Company Regime

Travers Smith LLP
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Since April 2022, the UK has had a new tax efficient vehicle – the qualifying asset holding company (or QAHC). This is a key change in the UK's tax strategy for asset management...

United KingdomWealth Management
Emily Clark
Emily Clark
Madeline Gowlett
Madeline Gowlett
Hannah Manning
Hannah Manning
Elena Rowlands
Elena Rowlands
Simon Skinner
Simon Skinner
Russell Warren
Russell Warren
Ian Zeider
Ian Zeider
Author LinkedIn connections

Summary

Since April 2022, the UK has had a new tax efficient vehicle – the qualifying asset holding company (or QAHC). This is a key change in the UK's tax strategy for asset management, part of a wide-ranging review into the UK funds landscape being carried out by the government, designed to enhance the UK's attractiveness to the sector. The QAHC allows the UK to compete with vehicles on offer in rival European fund centres, in particular Luxembourg and Ireland. Its availability is particularly welcome for many managers who have been concerned about the need to build substance in Luxembourg, especially in the light of the ATAD III proposals.

Essentially, QAHCs are normal unlisted UK tax resident investment companies that are at least 70% owned by "good" investors ("Category A investors"), such as investment funds and various types of institutional investor (e.g. most pension funds and many insurance businesses).

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