Wealthy investors warned.
But following announcements in the Budget, tax experts now believe a question mark hangs over their future.
Stuart Skeffington, tax and trusts expert at law firm Withers, said that while the expected new rule denying the capital gains tax benefits of a UK authorised unit trust or OEIC for investors holding over 10% had not materialised, there was still cause for concern.
However, following certain new powers unveiled in the Budget, measures seem likely to be introduced to provide for higher tax liabilities where investors hold a 'substantial' part of a Qualifying Investment Scheme (QIS), he said.
'QISs can only be marketed to a 'sophisticated' investor - therefore, the Revenue clearly have their sights upon those with significant holdings in these sorts of funds,' Mr Skeffington said.
'The question is whether they will then turn their attention to authorised unit trusts and OEICs.'