- Latest available (Revised)
- Original (As made)
This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
2.—(1) Section 469 of the Income and Corporation Taxes Act 1988(1) (other unit trusts) is amended as follows.
(2) In subsection (1)(2) for “neither an authorised unit trust nor an umbrella scheme” substitute “an unauthorised unit trust within the meaning of section 989 of ITA 2007”.
(3) In subsection (2)(3) after “unit holders)” insert “; 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”.
(4) Omit subsection (6A)(4).
Section 469(1) was amended by section 113(3)(a) of the Finance Act 1994 (c. 9) and Part V(1) of Schedule 41 to the Finance Act 1996 (c. 8).
Section 469(2) was amended by paragraph 12 of Schedule 6 to the Finance Act 1996, paragraph 12(2) of Schedule 4 to the Finance (No. 2) Act 1997 (c. 58) and paragraph 87(2) of Schedule 1 to the Income Tax Act 2007.
Section 469(6A) was inserted by section 113(3)(b) of the Finance Act 1994.
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: