PART 2THE TREATMENT OF PARTICIPANTS IN NON-REPORTING FUNDS
CHAPTER 3EXCEPTIONS ETC. FROM THE CHARGE TO TAX
Exceptions from the charge25
1
No liability to tax arises under regulation 17 if any of conditions A to E is met.
2
Condition A is that the participant is required to treat the interest in the fund as a loan relationship under Chapter 3 of Part 6 of CTA 2009.
3
Condition B is that the participant is required to treat the interest in the fund as a derivative contract to which the provisions of Part 7 of CTA 2009 apply.
4
Condition C is that the asset is an intangible fixed asset to which the provisions of Part 8 of CTA 2009 apply.
5
Condition D is that the asset consists of excluded indexed securities as defined in section 433 of ITTOIA 2005.
6
Condition E is that the asset is a right arising under a policy of insurance.