Spring Budget 24: Industry backs 'property rich' focus of restricted Reserved Investor Fund

Targets property and tax efficiency

The government has confirmed it will begin legislating on the Reserved Investor Fund over spring 2024, with a restricted iteration offering non-UK professional investors access to "property rich" funds.

Alongside the Spring Budget today (6 March), the Treasury published its consultation on the design of the RIF. The new fund vehicle will be a tax transparent unauthorised vehicle, which is designed to "complement and enhance" the UK's existing funds regime. The Treasury said this came in response to industry demand for a UK-based unauthorised contractual scheme with lower costs and more flexibility than the existing authorised contractual scheme. Spring Budget 24: Chancellor cuts National Insurance by another 2p The fund will be available to professional and institutional invest...