Finance Act 2008 (c. 9)

Part 2 U.K. Income tax, corporation tax and capital gains tax_general

Offshore funds U.K.

[F1 40G Meaning of “mutual fund”: powers to vary exceptions U.K.

(1) The Treasury may by regulations amend or repeal any provision of section 40E or 40F.

(2) The Treasury may by regulations provide that arrangements are not a mutual fund—

(a) in specified circumstances, or

(b) if they are of a specified description.

(3) Regulations under this section may include provision having effect in relation to the tax year and accounting periods current on the day on which the regulations are made.]

Textual Amendments

F1 Ss. 40A-40G inserted (21.7.2009) by Finance Act 2009 (c. 10), Sch. 22 para. 2