Qualifying Asset Holding Company (QAHC) regime
Historically, it was difficult to use a UK company as an under the fund asset holding company. Following proposals initiated by Macfarlanes, the UK Government introduced the Qualifying Asset Holding Company regime in April 2022.
The campaign started in late 2018 with a meeting between Macfarlanes and HM Treasury. We sought to highlight the various barriers in the UK tax system for managers wanting to use a UK company as an under the fund asset holding company. Over the course of several meetings with UK Government, we shared technical solutions and industry insight to provide the Government with the resolve to embark on a series of public consultations on the potential for a new regime.
Following the technical consultations, we joined the Government's stakeholder working group to help develop the legislation. We advised on the very first company to elect into the regime on the launch day in April 2022 and have implemented many more QAHCs since then. Since the launch of the regime, over 300 QAHCs have been set up.
