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Amendments to the Authorised Investment Funds (Tax) Regulations 2006
This section has no associated Explanatory Memorandum
2.—(1) The Authorised Investment Funds (Tax) Regulations 2006() are amended as follows.
(2) In regulation 18 (interest distributions: general), after paragraph (2) insert—
“(2A) For the purposes of Part 10 (Corporate Interest Restriction) of TIOPA 2010, an interest distribution is treated as not being a tax-interest expense amount() of the authorised investment fund.”
(3) In regulation 69Z16 (PAIF distributions (interest))(), after paragraph (2) insert—
“(2A) For the purposes of Part 10 (Corporate Interest Restriction) of TIOPA 2010, a PAIF distribution (interest) is treated as not being a tax-interest expense amount of the company.”
(4) In regulation 69Z61 (TEF distributions (non-dividend))(), after paragraph (2) insert—
“(2A) For the purposes of Part 10 (Corporate Interest Restriction) of TIOPA 2010, a TEF distribution (non-dividend) is treated as not being a tax-interest expense amount of the Tax Elected Fund.”
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