Aberdeen Asian Income trust eyes switch from Jersey to UK tax residency

The £492.2m Aberdeen Asian Income trust is looking to migrate its tax residence to the UK from Jersey to avail of lower rates, after it had total expenses of £1.5m for the first six months of the year. In a stock exchange announcement the board said it had been advised it can "access lower rates of withholding tax" as a UK tax resident because of "a greater number of double tax treaty agreements between the UK and overseas jurisdictions". The trust is currently a Jersey tax resident and will remain a Jersey incorporated entity even if its tax residency changes. The change of tax re...