[F1469 Other unit trusts.U.K.
(1)This section applies to—
(a)M1any unit trust scheme [F2that is [F3an unauthorised unit trust within the meaning of section 989 of ITA 2007]]; F4. . .
(b)F4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
except where the trustees of the scheme are not resident in the United Kingdom.
(2)Income arising to the trustees of the scheme shall be regarded for the purposes of the [F5Corporation Tax Acts] as income of the trustees (and not as income of the unit holders) [F6; and the trustees (and not the unit holders) shall be regarded as the persons to or on whom allowances or charges are to be made under the provisions of those Acts relating to relief for capital expenditure]F7. . . .]
[F8(2A)F9. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
[F10(2B)F9. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]]
(3)F9. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(4)F9. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
[F11(4A)F12. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(4B)F12. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(4C)F12. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(4D)F12. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]
(5)F12. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
[F13(5A)F14. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(5B)F14. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(5C)F14. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(5D)F14. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]
(6)F12. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
[F15(6A)F16. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]
(7)F14. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(8)F14. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(9)F14. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(10)F14. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(11)This section shall have effect in relation to distribution periods beginning on or after 6th April 1987.
Textual Amendments
F1Ss. 468H-468R and cross-headings inserted (with effect in accordance with Sch. 14 para. 7 of the amending Act) by Finance Act 1994 (c. 9), Sch. 14 para. 2
F2Words in s. 469(1)(a) substituted (with effect in accordance with s. 113(4)-(11) of the amending Act) by Finance Act 1994 (c. 9), s. 113(3)(a)
F3Words in s. 469(1) substituted (3.2.2009 with effect in accordance with art. 1(2) of the amending S.I.) by The Income Tax Act 2007 (Amendment) Order 2009 (S.I. 2009/23), arts. 1(1), 2(2)
F4S. 469(1)(b) and preceding word repealed (with effect in accordance with Sch. 41 Pt. 5(1) Note 2 of the repealing Act) by Finance Act 1996 (c. 8), Sch. 41 Pt. 5(1)
F5Words in s. 469(2) substituted (6.4.2007 with effect in accordance with s. 1034(1) of the amending Act) by Income Tax Act 2007 (c. 3), Sch. 1 para. 87(2)(a) (with Sch. 2)
F6Words in s. 469(2) inserted (3.2.2009 with effect in accordance with art. 1(2) of the amending S.I.) by The Income Tax Act 2007 (Amendment) Order 2009 (S.I. 2009/23), arts. 1(1), 2(3)
F7Words in s. 469(2) repealed (6.4.2007 with effect in accordance with s. 1034(1) of the repealing Act) by Income Tax Act 2007 (c. 3), Sch. 1 para. 87(2)(b), Sch. 3 Pt. 1 (with Sch. 2)
F8S. 469(2A)(2B) inserted (with effect in accordance with Sch. 4 para. 12(5) of the amending Act) by Finance (No. 2) Act 1997 (c. 58), Sch. 4 para. 12(3)
F9S. 469(2A)-(4) repealed (6.4.2007 with effect in accordance with s. 1034(1) of the repealing Act) by Income Tax Act 2007 (c. 3), Sch. 1 para. 87(3), Sch. 3 Pt. 1 (with Sch. 2)
F10S. 469(2B) substituted (6.4.2005 with effect in accordance with s. 883(1) of the amending Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 181(3) (with Sch. 2)
F11S. 469(4A)-(4D) inserted (6.4.2007 with effect in accordance with s. 1034(1) of the amending Act) by Income Tax Act 2007 (c. 3), Sch. 1 para. 87(4) (with Sch. 2)
F12S. 469(4A)-(5)(6) repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 157, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)
F13S. 469(5A)-(5D) inserted by Finance Act 1988 (c. 39), s. 71
F14S. 469(5A)-(5D)(7)-(10) repealed (6.4.2007 with effect in accordance with s. 1034(1) of the repealing Act) by Income Tax Act 2007 (c. 3), Sch. 1 para. 87(6), Sch. 3 Pt. 1 (with Sch. 2)
F15S. 469(6A) inserted (with effect in accordance with s. s. 113(4)-(11) of the amending Act) by Finance Act 1994 (c. 9), s. 113(3)(b)
F16S. 469(6A) omitted (3.2.2009 with effect in accordance with art. 1(2) of the repealing S.I.) by virtue of The Income Tax Act 2007 (Amendment) Order 2009 (S.I. 2009/23), arts. 1(1), 2(4)
Modifications etc. (not altering text)
C1S. 469 extended (27.7.1993) by 1993 c. 37, s. 12, Sch. 2 Pt. I para. 22(1)(2)
Marginal Citations
M1Source—1970 s.354A; 1987 s.39; 1987 (No.2) s.40(1)