Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Asset definition

What does Asset mean? In legal practice, an asset is any thing of economic value that a person or entity owns or controls and can realise, transfer, secure or enforce. The term is descriptive and used across contexts (company law, trusts, matrimonial finance, probate, enforcement and insolvency), with specific legislation or rules defining it for particular purposes (for example, insolvency, taxation and financial services). Assets include land and buildings, cash and bank balances, securities (shares, bonds and other fixed‑income instruments), receivables, contractual rights (choses in action), intellectual property, goodwill and, increasingly, cryptoassets. Assets may comprise legal or equitable interests and can be tangible or...

UK QAHC regime: entry and exit, eligibility breaches and cures, wind-down grace periods, tax consequences (rebasing, ring-fencing), and HMRC notifications/returns

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Practice notes

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The qualifying Asset Holding company (QAHC) regime

The qualifying asset holding company (QAHC) regime is an optional, tax‑favoured framework for certain holding companies—termed asset holding companies (AHCs)—used within collective and institutional investment structures to own investment assets. Effective from 1 April 2022, the QAHC regime was an early strand of the wider review of the UK funds regime undertaken by the UK government, first unveiled at Spring Budget 2020. AHCs that meet the QAHC conditions benefit from adjusted tax rules for their qualifying investment business, which is ring‑fenced from any other ancillary activities they conduct. They also benefit from modified tax treatment for particular payments they make. This Practice Note explains how an AHC enters and leaves the QAHC regime, and what the implications are when those events occur. It also sets out the rules relating to breaches of the QAHC eligibility requirements and the associated information obligations. For further detail on what AHCs are, their role within fund structures, and the eligibility criteria for the QAHC regime, see Practice Note: Qualifying asset holding companies (QAHCs)—what are they? For how a QAHC’s business is ring‑fenced for tax purposes and the...

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Web page updated on 22/05/2026

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