Boost secures UK fund reporting status for ETP range
HM Revenue & Customs has approved all current Boost ETPs as UK Reporting Funds under the provisions of The Offshore Funds (Tax) Regulations 2009.
A sale of Boost ETPs by UK taxable investors will now be regarded as a disposal subject to UK capital gains tax (CGT).
CGT will only be charged to the extent that the gains arising to an investor in any particular tax year exceed the relevant annual exemption threshold.
Hector McNeil, co-CEO of Boost, says: “It is just over a year since we listed our first ETPs on the London Stock Exchange and we have made significant strides since then. Included in our achievements are industry awards, breaking through USD50m of assets under management, massive increases in trading volumes, adding ETPs covering broad equities and commodities and listing on the Borsa Italiana. Quite a year.
“UK Fund Reporting Status confirmation for Boost products is important to UK investors and a significant point of clarity for their tax affairs. 2014 is an exciting year for Boost and we expect to make more advances as the year progresses.”
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