Proposals to migrate to UK tax residence

RNS Number : 3183S

Henderson Far East Income Limited

25 June 2018

 

Legal Entity Identifier: 2138008DIQREOD38O596

25 June 2018 

HENDERSON FAR EAST INCOME LIMITED
(THE "COMPANY")

Proposals to migrate to UK tax residence and apply for UK investment trust status

The Company currently earns investment income from a diversified portfolio of investments with exposure to the Asia Pacific region, much of which is subject to overseas withholding taxes. The Board has been exploring, with its advisers, the ability for the Company to mitigate the level of these withholding taxes.

In particular, the Board has been advised that a UK resident company is able to access lower rates of withholding tax in some jurisdictions than a Jersey resident company, due to the greater number of double tax treaty agreements between the UK and overseas jurisdictions. The Board has therefore concluded that, subject to appropriate tax, regulatory and shareholder approvals, it will benefit the Company and shareholders if it becomes UK tax resident and becomes classified as a UK investment trust in order to avail itself of these treaties.

Further details of the proposals, once finalised, will be set out in a circular to shareholders of the Company to approve, inter alia, certain changes to the articles of association, which will be published in due course.

For further information please contact:

James de Sausmarez

Director and Head of Investment Trusts, Henderson Investment Funds Limited

Telephone: [phone]

Siobhan Lavery

Company Secretary and RNS Agent

BNP Paribas Securities Services S.C.A. Jersey Branch

Telephone: [phone]

 

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