The Authorised Investment Funds (Tax) Regulations 2006 No. 964

[F1 PART 4B U.K. TAX ELECTED FUNDS

Textual Amendments

F1 Pt. 4B inserted (1.9.2009) by The Authorised Investment Funds (Tax) (Amendment) Regulations 2009 (S.I. 2009/2036), regs. 1, 24

CHAPTER 3 U.K. THE TAX TREATMENT OF TAX ELECTED FUNDS

Components of income U.K.

69Z56.— (1)  For the purposes of corporation tax, the income arising to a Tax Elected Fund consists of—

(a) dividend income;

(b) property investment income, being—

(i) distributions of profits of C (tax-exempt) in relation to shares held in a UK-REIT, and

(ii) property income distributions in relation to shares held in a Property AIF;

(c) property business income (arising on a breach of the property condition), being—

(i) profits of a UK property business that are not within sub-paragraph (b), and

(ii) income from an overseas property business; and

(d) other income.

(2) In this regulation, “C (tax-exempt)” shall be construed in accordance with Part 4 of FA 2006.]