SDLTM31305 | Introduction

Co-Ownership Authorised Schemes (CoACSs) and Reserved Investor Funds (RIFs) are both types of Co-Ownership Contractual Scheme (CoCS).

FA03/S102 provides that a CoCS is treated as if the scheme is a company, and the rights of the participants are shares in that company.

An exception to this applies in respect of group relief, reconstruction and acquisition reliefs under FA03/SCH7. See SDLTM23000+.

Where there is an umbrella scheme, each separate sub-fund or pool is regarded as a separate CoCS, and the umbrella scheme as a whole is not regarded as a CoCS.