(1)The charge to corporation tax on income applies to income treated as received by a unit holder from a unit trust scheme to which this section applies.
(2)For the purposes of this Chapter a unit holder is treated as receiving such income if an amount is shown in the scheme’s accounts as income available for payment to unit holders or for investment.
(3)This section applies to a unit trust scheme if—
(a)the scheme is an unauthorised unit trust, and
(b)the trustees of the scheme are UK resident.
(4)“Unauthorised unit trust” has the meaning given by section 989 of ITA 2007.