Exceptions from the chargeU.K.
This section has no associated Explanatory Memorandum
25.—(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.