F1PART 4APROPERTY AIFS

Annotations:
Amendments (Textual)

CHAPTER 4DISTRIBUTIONS MADE BY PROPERTY AIFS

Property income distributions69Z15

1

This regulation applies if—

a

an open-ended investment company to which this Part applies makes a distribution, and

b

the amount distributed includes sums attributed to property income distributions.

2

The Tax Acts shall have effect as if the sums were payments made on the distribution date by the company to the participants in proportion to their rights.

3

Regulation 69Z18 (property income distributions: liability to tax of participants) explains how a property income distribution received by a participant is treated.

4

In these Regulations a “property income distribution” means a sum attributed to property income distributions which is distributed (including a payment made to a participant who is not chargeable to income tax or corporation tax).