A UK home for private funds? HM Treasury consults on potential amendments to United Kingdom limited partnership legislation

August 19, 2015

HM Treasury has published a consultation paper setting out proposed reforms to UK limited partnerships law with a focus on private fund structures (the “Consultation Paper”). The consultation includes a draft legislative reform order entitled ‘Legislative Reform (Limited Partnerships) Order 2015’ (the “Draft Order”). These reforms are part of the UK Government’s drive to remove “unnecessary legal complexity and administrative burdens to partnerships legislation” and were signalled in the 2013 Budget as part of the UK Government’s Investment Management Strategy.

If enacted, the proposals will bring domestic UK legislation better into line with that of other popular fund domiciles.

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