The Offshore Funds (Tax) Regulations 2009

Trading stock etc.U.K.

This section has no associated Explanatory Memorandum

26.—(1) No liability to tax arises under regulation 17 if condition A or B is met.

(2) Condition A is that the interest in the fund is held as trading stock.

(3) Condition B is that the disposal of the interest is taken into account in computing the profits of a trade.