The Authorised Investment Funds (Tax) Regulations 2006

[F1Property income distributionsU.K.

This section has no associated Explanatory Memorandum

69Z15.—(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).]

Textual Amendments