106.—(1) A reporting fund must provide the following information to HMRC in relation to each period of account—
(a)[F1subject to paragraph (3),] its audited accounts F2...;
(b)its computation of its reportable income for the period of account based on its audited accounts (see Chapter 5 [F3or 6A, as the case may be]);
(c)a copy of the report made available to participants for each reporting period falling within the period of account (including, for each reporting period, the information specified in regulation 92(1) [F4or 92D, as the case may be]);
(d)the reported income of the fund for each reporting period falling within the period of account;
(e)the amount actually distributed to participants in respect of each reporting period falling within the period of account;
(f)the number of units in the fund in issue at the end of each reporting period falling within the period of account;
(g)the amount of the reported income per unit of interest in the fund in respect of each reporting period falling within the period of account;
(h)a declaration confirming that the fund has complied with the obligations specified in regulations 53 and 58.
(2) The information specified in paragraph (1) must be provided within six months of the end of the period of account.
[F5(3) A reporting fund may provide unaudited accounts for a period of account if HMRC are satisfied, in relation to that period, that—
(a)it would be impossible [F6to provide audited accounts or unreasonable to expect them to be provided, and]
(b)there is no reason to believe that the unaudited accounts cannot be relied upon for the purposes of calculating reportable income.]
Textual Amendments
F1Words in reg. 106(1)(a) inserted (with effect in accordance with reg. 1(2) of the amending S.I.) by The Offshore Funds (Tax) (Amendment) Regulations 2011 (S.I. 2011/1211), regs. 1(1), 41(2)
F2Words in reg. 106(1)(a) omitted (with effect in accordance with reg. 1(2) of the amending S.I.) by virtue of The Offshore Funds (Tax) (Amendment) Regulations 2011 (S.I. 2011/1211), regs. 1(1), 27(a)
F3Words in reg. 106(1)(b) inserted (with effect in accordance with reg. 1(2) of the amending S.I.) by The Offshore Funds (Tax) (Amendment) Regulations 2011 (S.I. 2011/1211), regs. 1(1), 27(b)
F4Words in reg. 106(1)(c) inserted (with effect in accordance with reg. 1(2) of the amending S.I.) by The Offshore Funds (Tax) (Amendment) Regulations 2011 (S.I. 2011/1211), regs. 1(1), 27(c)
F5Reg. 106(3) inserted (with effect in accordance with reg. 1(2) of the amending S.I.) by The Offshore Funds (Tax) (Amendment) Regulations 2011 (S.I. 2011/1211), regs. 1(1), 41(3)
F6Words in reg. 106(3)(a) substituted (28.6.2013) by The Offshore Funds (Tax) (Amendment No. 2) Regulations 2013 (S.I. 2013/1411), regs. 1(1), 11 (with reg. 1(3)(4))