This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
40.—(1) Amend regulation 94 (reported income: general provisions) as follows.
(2) In paragraph (2A)(1) for “paragraph” substitute “paragraphs (1) and”.
(3) In paragraph (3) after “date,” insert “or on such earlier date as the reported income in respect of that reporting period is recognised in the participant’s accounts,”.
(4) After paragraph (3) insert—
“(3A) If—
(a)a participant disposes of an interest in a reporting fund in a reporting period (“the earlier period”), and
(b)section 106A of TCGA 1992 (identification of securities: capital gains tax)(2) applies to identify the whole or any part of that interest with an interest acquired in the next reporting period,
then, for the purposes of paragraph (3), the disposal of the interest so identified shall be ignored and the participant shall be treated as holding that interest at the end of the earlier period.”.
(5) In paragraph (4) for the words from “means—” to the end substitute “means the date six months following the last day of the reporting period”.
Paragraph (2A) was inserted by S.I. 2009/3139.
Section 106A was inserted by section 124(1) of the Finance Act 1998 (c. 36).
All content is available under the Open Government Licence v3.0 except where otherwise stated. This site additionally contains content derived from EUR-Lex, reused under the terms of the Commission Decision 2011/833/EU on the reuse of documents from the EU institutions. For more information see the EUR-Lex public statement on re-use.
