Part 4: Income tax, corporation tax and capital gains tax Section 44: Disguised investment management fees Background note
These new provisions are effective from the date of their announcement on 8 July as part of the Summer Budget 2015 in order to prevent the forestalling which would otherwise be likely. They have been introduced to support the government's policy that taxation should be fair and, to that end, should so far as possible reflect the reality of circumstances. It ensures that tax is paid on true economic gains enjoyed by the individuals affected by the new rules.
	HMRC will monitor the impact of these provisions through disclosures of new avoidance schemes to circumvent the measure, and through communication with affected taxpayers and practitioners.