IFM13384 | Offshore Funds: participants in offshore funds: participants within the charge to income tax: disposals: non-reporting funds: exchanging interests in one fund or share class for another

In certain circumstances TCGA provides that exchanges of one type of interest for another will not constitute a disposal and acquisition.

Those provisions of TCGA are not applicable in some circumstances in the case of exchanges involving interests in non-reporting offshore funds as described in the pages referenced below:

• Exchange of securities for those in another company – IFM13386

• Schemes of reconstruction – IFM13386

• Exchange of interests of different classes – IFM13388