IFM09940 | Miscellaneous: Co-ownership contractual schemes - Income arising in offshore funds

Where a RIF invests in offshore funds (IFM12000) Regulations 46 to 49 make provision that in certain circumstances income is deemed to accrue to the participants in the RIF in respect of such investment in offshore funds. The operator of the RIF must notify investors of the additional income by the information reporting date, which is the date six months after the end of the period of account of the RIF.

The offshore fund rules apply in the same way for RIFs as for CoACS – see IFM08350 and IFM08360.