http://www.legislation.gov.uk/ukpga/1988/1/schedule/27/paragraph/3/1991-02-01Income and Corporation Taxes Act 1988An Act to consolidate certain of the enactments relating to income tax and corporation tax, including certain enactments relating also to capital gains tax; and to repeal as obsolete section 339(1) of the Income and Corporation Taxes Act 1970 and paragraphs 3 and 4 of Schedule 11 to the Finance Act 1980.1988-02-09texttext/xmlenStatute Law Database2024-05-301991-02-01 SCHEDULES SCHEDULE 27 DISTRIBUTING FUNDS <CommentaryRef Ref="c21639631"/>PART I THE DISTRIBUTION TEST Income taxable under Case IV or Case V of Schedule D<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/1988/1/schedule/27/paragraph/3/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1988/1/schedule/27/paragraph/3" id="schedule-27-paragraph-3"><Pnumber>3</Pnumber><P1para><P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1988/1/schedule/27/paragraph/3/1/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1988/1/schedule/27/paragraph/3/1" id="schedule-27-paragraph-3-1"><Pnumber>1</Pnumber><P2para><Text>Sub-paragraph (2) below applies if any sums which form part of the income of an offshore fund falling within section 759(1)(b) or (c) are of such a nature that—</Text><P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1988/1/schedule/27/paragraph/3/1/a/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1988/1/schedule/27/paragraph/3/1/a" id="schedule-27-paragraph-3-1-a"><Pnumber>a</Pnumber><P3para><Text>the holders of interests in the fund who are either companies resident in the United Kingdom or individuals domiciled and resident there—</Text><P4 DocumentURI="http://www.legislation.gov.uk/ukpga/1988/1/schedule/27/paragraph/3/1/a/i/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1988/1/schedule/27/paragraph/3/1/a/i" id="schedule-27-paragraph-3-1-a-i"><Pnumber>i</Pnumber><P4para><Text>are chargeable to tax under Case IV or Case V of Schedule D in respect of such of those sums as are referable to their interests; or</Text></P4para></P4><P4 DocumentURI="http://www.legislation.gov.uk/ukpga/1988/1/schedule/27/paragraph/3/1/a/ii/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1988/1/schedule/27/paragraph/3/1/a/ii" id="schedule-27-paragraph-3-1-a-ii"><Pnumber>ii</Pnumber><P4para><Text>if any of that income is derived from assets within the United Kingdom, would be so chargeable had the assets been outside the United Kingdom; and</Text></P4para></P4></P3para></P3><P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1988/1/schedule/27/paragraph/3/1/b/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1988/1/schedule/27/paragraph/3/1/b" id="schedule-27-paragraph-3-1-b"><Pnumber>b</Pnumber><P3para><Text>the holders of interests who are not such companies or individuals would be chargeable as mentioned in sub-paragraph (i) or (ii) above if they were resident in the United Kingdom or, in the case of individuals, if they were domiciled and both resident and ordinarily resident there.</Text></P3para></P3></P2para></P2><P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1988/1/schedule/27/paragraph/3/2/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1988/1/schedule/27/paragraph/3/2" id="schedule-27-paragraph-3-2"><Pnumber>2</Pnumber><P2para><Text>To the extent that sums falling within sub-paragraph (1) above do not actually form part of a distribution complying with paragraphs 1(1)(c) and (d) above, they shall be treated for the purposes of this Part of this Schedule—</Text><P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1988/1/schedule/27/paragraph/3/2/a/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1988/1/schedule/27/paragraph/3/2/a" id="schedule-27-paragraph-3-2-a"><Pnumber>a</Pnumber><P3para><Text>as a distribution complying with those paragraphs and made out of the income of which they form part; and</Text></P3para></P3><P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1988/1/schedule/27/paragraph/3/2/b/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1988/1/schedule/27/paragraph/3/2/b" id="schedule-27-paragraph-3-2-b"><Pnumber>b</Pnumber><P3para><Text>as paid to the holders of the interests to which they are referable.</Text></P3para></P3></P2para></P2></P1para></P1></P1group></Pblock></Part></ScheduleBody></Schedule></Schedules></Primary><Commentaries><Commentary id="c23828701" Type="C"><Para><Text><CitationSubRef id="c60454" URI="http://www.legislation.gov.uk/id/ukpga/1988/1/schedule/27" SectionRef="schedule-27">Sch. 27</CitationSubRef> applied (with modifications) (22.10.2004 with effect in accordance with reg. 1(2) of the affecting S.I.) by <Citation URI="http://www.legislation.gov.uk/id/uksi/2004/2572" id="c60455" Class="UnitedKingdomStatutoryInstrument" Year="2004" Number="2572" Title="The Offshore Funds Regulations 2004">The Offshore Funds Regulations 2004 (S.I. 2004/2572)</Citation>, <CitationSubRef id="c60456" URI="http://www.legislation.gov.uk/id/uksi/2004/2572/regulation/1/1" Operative="true" CitationRef="c60455" SectionRef="regulation-1-1">regs. 1(1)</CitationSubRef>, <CitationSubRef id="c60457" URI="http://www.legislation.gov.uk/id/uksi/2004/2572/regulation/4" CitationRef="c60455" SectionRef="regulation-4">4</CitationSubRef></Text></Para></Commentary><Commentary id="c21639631" Type="M"><Para><Text>Source—[1984 Sch.19; 1986 s.50; 1987 (No.2) s.66] </Text></Para></Commentary></Commentaries></Legislation></div><div class="header"><span>This XML file does not appear to have any style information associated with it. 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class="html-tag"></dc:identifier></span></div><div class="line"><span class="html-tag"><dc:title></span><span>Income and Corporation Taxes Act 1988</span><span class="html-tag"></dc:title></span></div><div class="line"><span class="html-tag"><dc:description></span><span>An Act to consolidate certain of the enactments relating to income tax and corporation tax, including certain enactments relating also to capital gains tax; and to repeal as obsolete section 339(1) of the Income and Corporation Taxes Act 1970 and paragraphs 3 and 4 of Schedule 11 to the Finance Act 1980.</span><span class="html-tag"></dc:description></span></div><div class="line"><span class="html-tag"><dc:date></span><span>1988-02-09</span><span class="html-tag"></dc:date></span></div><div class="line"><span class="html-tag"><dc:type></span><span>text</span><span class="html-tag"></dc:type></span></div><div class="line"><span class="html-tag"><dc:format></span><span>text/xml</span><span 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repealed</span>"</span>/></span></div><div class="line"><span class="html-tag"><atom:link<span class="html-attribute"> <span class="html-attribute-name">rel</span>="<span class="html-attribute-value">http://purl.org/dc/terms/hasVersion</span>"</span><span class="html-attribute"> <span class="html-attribute-name">href</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/ukpga/1988/1/schedule/27/paragraph/3</span>"</span><span class="html-attribute"> <span class="html-attribute-name">title</span>="<span class="html-attribute-value">current</span>"</span>/></span></div><span> </span><div class="line"><span class="html-tag"><atom:link<span class="html-attribute"> <span class="html-attribute-name">rel</span>="<span class="html-attribute-value">up</span>"</span><span class="html-attribute"> <span class="html-attribute-name">href</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/ukpga/1988/1/schedule/27/1991-02-01</span>"</span><span class="html-attribute"> <span class="html-attribute-name">title</span>="<span class="html-attribute-value">Schedule 27</span>"</span>/></span></div><div class="line"><span class="html-tag"><atom:link<span class="html-attribute"> <span class="html-attribute-name">rel</span>="<span class="html-attribute-value">prev</span>"</span><span class="html-attribute"> <span class="html-attribute-name">href</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/ukpga/1988/1/schedule/27/paragraph/2/1991-02-01</span>"</span><span class="html-attribute"> <span class="html-attribute-name">title</span>="<span class="html-attribute-value">Paragraph; Schedule 27 Paragraph 2</span>"</span>/></span></div><div class="line"><span class="html-tag"><atom:link<span class="html-attribute"> <span class="html-attribute-name">rel</span>="<span class="html-attribute-value">prevInForce</span>"</span><span class="html-attribute"> <span class="html-attribute-name">href</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/ukpga/1988/1/schedule/27/paragraph/2/1991-02-01</span>"</span><span class="html-attribute"> <span class="html-attribute-name">title</span>="<span class="html-attribute-value">Paragraph; Schedule 27 Paragraph 2</span>"</span>/></span></div><div class="line"><span class="html-tag"><atom:link<span class="html-attribute"> <span class="html-attribute-name">rel</span>="<span class="html-attribute-value">next</span>"</span><span class="html-attribute"> <span class="html-attribute-name">href</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/ukpga/1988/1/schedule/27/paragraph/4/1991-02-01</span>"</span><span class="html-attribute"> <span class="html-attribute-name">title</span>="<span class="html-attribute-value">Paragraph; Schedule 27 Paragraph 4</span>"</span>/></span></div><div class="line"><span class="html-tag"><atom:link<span class="html-attribute"> <span class="html-attribute-name">rel</span>="<span class="html-attribute-value">nextInForce</span>"</span><span class="html-attribute"> <span class="html-attribute-name">href</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/ukpga/1988/1/schedule/27/paragraph/4/1991-02-01</span>"</span><span class="html-attribute"> <span class="html-attribute-name">title</span>="<span class="html-attribute-value">Paragraph; Schedule 27 Paragraph 4</span>"</span>/></span></div><span> </span><div class="folder" id="folder2"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><ukm:PrimaryMetadata></span></div><div class="opened"><div class="folder" id="folder3"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><ukm:DocumentClassification></span></div><div class="opened"><div class="line"><span class="html-tag"><ukm:DocumentCategory<span class="html-attribute"> <span class="html-attribute-name">Value</span>="<span class="html-attribute-value">primary</span>"</span>/></span></div><div class="line"><span class="html-tag"><ukm:DocumentMainType<span class="html-attribute"> <span class="html-attribute-name">Value</span>="<span class="html-attribute-value">UnitedKingdomPublicGeneralAct</span>"</span>/></span></div><div class="line"><span class="html-tag"><ukm:DocumentStatus<span class="html-attribute"> <span class="html-attribute-name">Value</span>="<span class="html-attribute-value">revised</span>"</span>/></span></div></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></ukm:DocumentClassification></span></div></div><div class="line"><span class="html-tag"><ukm:Year<span class="html-attribute"> <span class="html-attribute-name">Value</span>="<span class="html-attribute-value">1988</span>"</span>/></span></div><div class="line"><span class="html-tag"><ukm:Number<span class="html-attribute"> <span class="html-attribute-name">Value</span>="<span class="html-attribute-value">1</span>"</span>/></span></div><div class="line"><span class="html-tag"><ukm:EnactmentDate<span class="html-attribute"> <span class="html-attribute-name">Date</span>="<span class="html-attribute-value">1988-02-09</span>"</span>/></span></div><div class="folder" id="folder4"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><ukm:UnappliedEffects></span></div><div class="opened"><div class="folder" id="folder5"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><ukm:UnappliedEffect<span class="html-attribute"> <span class="html-attribute-name">AffectedProvisions</span>="<span class="html-attribute-value">s. 109A(4B)</span>"</span><span class="html-attribute"> <span class="html-attribute-name">AffectingYear</span>="<span class="html-attribute-value">2005</span>"</span><span class="html-attribute"> <span class="html-attribute-name">AffectedNumber</span>="<span class="html-attribute-value">1</span>"</span><span class="html-attribute"> <span class="html-attribute-name">AffectedURI</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/id/ukpga/1988/1</span>"</span><span class="html-attribute"> <span class="html-attribute-name">AffectedExtent</span>="<span class="html-attribute-value">E+W+S+N.I.</span>"</span><span class="html-attribute"> <span class="html-attribute-name">AffectedYear</span>="<span class="html-attribute-value">1988</span>"</span><span class="html-attribute"> <span class="html-attribute-name">AffectingEffectsExtent</span>="<span class="html-attribute-value">E+W+S+N.I.</span>"</span><span class="html-attribute"> <span class="html-attribute-name">AffectingClass</span>="<span class="html-attribute-value">UnitedKingdomPublicGeneralAct</span>"</span><span class="html-attribute"> <span class="html-attribute-name">Row</span>="<span class="html-attribute-value">1872</span>"</span><span class="html-attribute"> <span class="html-attribute-name">AffectingURI</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/id/ukpga/2005/7</span>"</span><span class="html-attribute"> <span class="html-attribute-name">Type</span>="<span class="html-attribute-value">inserted</span>"</span><span class="html-attribute"> <span class="html-attribute-name">EffectId</span>="<span class="html-attribute-value">key-226ae3d3b9d67ad2586b63cb0803e4d6</span>"</span><span class="html-attribute"> <span class="html-attribute-name">Notes</span>="<span class="html-attribute-value">This amendment not applied to legislation.gov.uk. The amending provision (2005 c. 7, Sch. 4 para. 6) repealed retrospectively by 2005 c. 22, Sch. 6 para. 4(1)(6)</span>"</span><span class="html-attribute"> <span class="html-attribute-name">RequiresApplied</span>="<span class="html-attribute-value">false</span>"</span><span class="html-attribute"> <span class="html-attribute-name">URI</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/id/effect/key-226ae3d3b9d67ad2586b63cb0803e4d6</span>"</span><span class="html-attribute"> <span class="html-attribute-name">AffectingProvisions</span>="<span class="html-attribute-value">Sch. 4 para. 6(3)</span>"</span><span class="html-attribute"> <span class="html-attribute-name">AffectedClass</span>="<span class="html-attribute-value">UnitedKingdomPublicGeneralAct</span>"</span><span class="html-attribute"> <span class="html-attribute-name">Modified</span>="<span class="html-attribute-value">2022-04-21T15:01:57Z</span>"</span><span class="html-attribute"> <span class="html-attribute-name">AffectingNumber</span>="<span class="html-attribute-value">7</span>"</span>></span></div><div class="opened"><div class="line"><span class="html-tag"><ukm:AffectedTitle></span><span>Income and Corporation Taxes Act 1988</span><span class="html-tag"></ukm:AffectedTitle></span></div><div class="folder" id="folder6"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><ukm:AffectedProvisions></span></div><div class="opened"><div class="line"><span class="html-tag"><ukm:Section<span class="html-attribute"> <span class="html-attribute-name">Ref</span>="<span class="html-attribute-value">section-109A-4B</span>"</span><span class="html-attribute"> <span class="html-attribute-name">URI</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/id/ukpga/1988/1/section/109A/4B</span>"</span><span class="html-attribute"> <span class="html-attribute-name">FoundRef</span>="<span class="html-attribute-value">section-109A</span>"</span>></span><span>s. 109A(4B)</span><span class="html-tag"></ukm:Section></span></div></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></ukm:AffectedProvisions></span></div></div><div class="line"><span class="html-tag"><ukm:AffectingTitle></span><span>Finance Act 2005</span><span class="html-tag"></ukm:AffectingTitle></span></div><div class="folder" id="folder7"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><ukm:AffectingProvisions></span></div><div class="opened"><div class="line"><span class="html-tag"><ukm:Section<span class="html-attribute"> <span class="html-attribute-name">Ref</span>="<span class="html-attribute-value">schedule-4</span>"</span><span class="html-attribute"> <span class="html-attribute-name">URI</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/id/ukpga/2005/7/schedule/4</span>"</span>></span><span>Sch. 4 </span><span class="html-tag"></ukm:Section></span></div><div class="line"><span class="html-tag"><ukm:Section<span class="html-attribute"> <span class="html-attribute-name">Ref</span>="<span class="html-attribute-value">schedule-4-paragraph-6-3</span>"</span><span class="html-attribute"> <span class="html-attribute-name">URI</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/id/ukpga/2005/7/schedule/4/paragraph/6/3</span>"</span>></span><span>para. 6(3)</span><span class="html-tag"></ukm:Section></span></div></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></ukm:AffectingProvisions></span></div></div><div class="folder" id="folder8"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><ukm:InForceDates></span></div><div class="opened"><div class="line"><span class="html-tag"><ukm:InForce<span class="html-attribute"> <span class="html-attribute-name">Date</span>="<span class="html-attribute-value">2005-04-07</span>"</span><span class="html-attribute"> <span class="html-attribute-name">Qualification</span>="<span class="html-attribute-value">with effect in accordance with</span>"</span><span class="html-attribute"> <span class="html-attribute-name">OtherQualification</span>="<span class="html-attribute-value">s. 80(3)(4)</span>"</span>/></span></div></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></ukm:InForceDates></span></div></div></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></ukm:UnappliedEffect></span></div></div><div class="folder" id="folder9"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><ukm:UnappliedEffect<span class="html-attribute"> <span class="html-attribute-name">AffectedClass</span>="<span class="html-attribute-value">UnitedKingdomPublicGeneralAct</span>"</span><span class="html-attribute"> <span class="html-attribute-name">AffectingEffectsExtent</span>="<span class="html-attribute-value">S+A+M+E+A+S+A+F+F+E+C+T+E+D</span>"</span><span class="html-attribute"> <span class="html-attribute-name">AffectingProvisions</span>="<span class="html-attribute-value">s. 18</span>"</span><span class="html-attribute"> <span class="html-attribute-name">AffectingClass</span>="<span class="html-attribute-value">UnitedKingdomPublicGeneralAct</span>"</span><span class="html-attribute"> <span class="html-attribute-name">AffectedYear</span>="<span class="html-attribute-value">1988</span>"</span><span class="html-attribute"> <span class="html-attribute-name">AffectingYear</span>="<span class="html-attribute-value">2004</span>"</span><span class="html-attribute"> <span class="html-attribute-name">AffectedProvisions</span>="<span class="html-attribute-value">Act</span>"</span><span class="html-attribute"> <span class="html-attribute-name">URI</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/id/effect/key-3bf93f5f4f294390eed562b98f900c46</span>"</span><span class="html-attribute"> <span class="html-attribute-name">AffectingURI</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/id/ukpga/2004/25</span>"</span><span class="html-attribute"> <span class="html-attribute-name">AffectedURI</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/id/ukpga/1988/1</span>"</span><span class="html-attribute"> <span class="html-attribute-name">RequiresApplied</span>="<span class="html-attribute-value">true</span>"</span><span class="html-attribute"> <span class="html-attribute-name">AffectedNumber</span>="<span class="html-attribute-value">1</span>"</span><span class="html-attribute"> <span class="html-attribute-name">Modified</span>="<span class="html-attribute-value">2022-04-21T15:01:57Z</span>"</span><span class="html-attribute"> <span class="html-attribute-name">Row</span>="<span class="html-attribute-value">156</span>"</span><span class="html-attribute"> <span class="html-attribute-name">EffectId</span>="<span class="html-attribute-value">key-3bf93f5f4f294390eed562b98f900c46</span>"</span><span class="html-attribute"> <span class="html-attribute-name">AffectedExtent</span>="<span class="html-attribute-value">E+W+S+N.I.</span>"</span><span class="html-attribute"> <span class="html-attribute-name">AffectingNumber</span>="<span class="html-attribute-value">25</span>"</span><span class="html-attribute"> <span class="html-attribute-name">Type</span>="<span class="html-attribute-value">Tax Acts: power to modify conferred</span>"</span>></span></div><div class="opened"><div class="line"><span class="html-tag"><ukm:AffectedTitle></span><span>Income and Corporation Taxes Act 1988</span><span class="html-tag"></ukm:AffectedTitle></span></div><div class="line"><span class="html-tag"><ukm:AffectedProvisions></span><span>Act</span><span class="html-tag"></ukm:AffectedProvisions></span></div><div class="line"><span class="html-tag"><ukm:AffectingTitle></span><span>Horserace Betting and Olympic Lottery Act 2004</span><span class="html-tag"></ukm:AffectingTitle></span></div><div class="folder" id="folder10"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><ukm:AffectingProvisions></span></div><div class="opened"><div class="line"><span class="html-tag"><ukm:Section<span class="html-attribute"> <span class="html-attribute-name">Ref</span>="<span class="html-attribute-value">section-18</span>"</span><span class="html-attribute"> <span class="html-attribute-name">URI</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/id/ukpga/2004/25/section/18</span>"</span>></span><span>s. 18</span><span class="html-tag"></ukm:Section></span></div></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></ukm:AffectingProvisions></span></div></div><div class="folder" id="folder11"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><ukm:CommencementAuthority></span></div><div class="opened"><div class="line"><span class="html-tag"><ukm:Section<span class="html-attribute"> <span class="html-attribute-name">Ref</span>="<span class="html-attribute-value">section-40</span>"</span><span class="html-attribute"> <span class="html-attribute-name">URI</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/id/ukpga/2004/25/section/40</span>"</span>></span><span>s. 40</span><span class="html-tag"></ukm:Section></span></div></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></ukm:CommencementAuthority></span></div></div><div class="folder" id="folder12"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><ukm:InForceDates></span></div><div class="opened"><div class="line"><span class="html-tag"><ukm:InForce<span class="html-attribute"> <span class="html-attribute-name">Applied</span>="<span class="html-attribute-value">false</span>"</span><span class="html-attribute"> <span class="html-attribute-name">Prospective</span>="<span class="html-attribute-value">true</span>"</span><span class="html-attribute"> <span class="html-attribute-name">Qualification</span>="<span class="html-attribute-value"></span>"</span>/></span></div></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></ukm:InForceDates></span></div></div></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></ukm:UnappliedEffect></span></div></div><div class="folder" id="folder13"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><ukm:UnappliedEffect<span class="html-attribute"> <span class="html-attribute-name">AffectedURI</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/id/ukpga/1988/1</span>"</span><span class="html-attribute"> <span class="html-attribute-name">AffectedYear</span>="<span class="html-attribute-value">1988</span>"</span><span class="html-attribute"> <span class="html-attribute-name">AffectedNumber</span>="<span class="html-attribute-value">1</span>"</span><span class="html-attribute"> <span class="html-attribute-name">Row</span>="<span class="html-attribute-value">12550</span>"</span><span class="html-attribute"> <span class="html-attribute-name">Modified</span>="<span class="html-attribute-value">2022-04-21T15:01:57Z</span>"</span><span class="html-attribute"> <span class="html-attribute-name">AffectingClass</span>="<span class="html-attribute-value">UnitedKingdomStatutoryInstrument</span>"</span><span class="html-attribute"> <span class="html-attribute-name">AffectingEffectsExtent</span>="<span class="html-attribute-value">E+W+S+N.I.</span>"</span><span class="html-attribute"> <span class="html-attribute-name">Notes</span>="<span class="html-attribute-value">This amendment not applied to legislation.gov.uk. The words to be substituted do not occur in Sch. 19AB para. 5</span>"</span><span class="html-attribute"> <span class="html-attribute-name">AffectingNumber</span>="<span class="html-attribute-value">3629</span>"</span><span class="html-attribute"> <span class="html-attribute-name">URI</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/id/effect/key-0e06b525e81058cef6b010bdeff22d29</span>"</span><span class="html-attribute"> <span class="html-attribute-name">AffectedClass</span>="<span class="html-attribute-value">UnitedKingdomPublicGeneralAct</span>"</span><span class="html-attribute"> <span class="html-attribute-name">Type</span>="<span class="html-attribute-value">words substituted</span>"</span><span class="html-attribute"> <span class="html-attribute-name">AffectingURI</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/id/uksi/2001/3629</span>"</span><span class="html-attribute"> <span class="html-attribute-name">AffectingProvisions</span>="<span class="html-attribute-value">art. 52(2)(n)</span>"</span><span class="html-attribute"> <span class="html-attribute-name">RequiresApplied</span>="<span class="html-attribute-value">false</span>"</span><span class="html-attribute"> <span class="html-attribute-name">AffectedProvisions</span>="<span class="html-attribute-value">Sch. 19AB para. 5(5)(a)(b)</span>"</span><span class="html-attribute"> <span class="html-attribute-name">AffectingYear</span>="<span class="html-attribute-value">2001</span>"</span><span class="html-attribute"> <span class="html-attribute-name">AffectedExtent</span>="<span class="html-attribute-value">E+W+S+N.I.</span>"</span><span class="html-attribute"> <span class="html-attribute-name">EffectId</span>="<span class="html-attribute-value">key-0e06b525e81058cef6b010bdeff22d29</span>"</span>></span></div><div class="opened"><div class="line"><span class="html-tag"><ukm:AffectedTitle></span><span>Income and Corporation Taxes Act 1988</span><span class="html-tag"></ukm:AffectedTitle></span></div><div class="folder" id="folder14"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><ukm:AffectedProvisions></span></div><div class="opened"><div class="line"><span class="html-tag"><ukm:Section<span class="html-attribute"> <span class="html-attribute-name">Ref</span>="<span class="html-attribute-value">schedule-19AB</span>"</span><span class="html-attribute"> <span class="html-attribute-name">URI</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/id/ukpga/1988/1/schedule/19AB</span>"</span>></span><span>Sch. 19AB </span><span class="html-tag"></ukm:Section></span></div><div class="line"><span class="html-tag"><ukm:Section<span class="html-attribute"> <span class="html-attribute-name">Ref</span>="<span class="html-attribute-value">schedule-19AB-paragraph-5-5-a</span>"</span><span class="html-attribute"> <span class="html-attribute-name">URI</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/id/ukpga/1988/1/schedule/19AB/paragraph/5/5/a</span>"</span><span class="html-attribute"> <span class="html-attribute-name">FoundRef</span>="<span class="html-attribute-value">schedule-19AB-paragraph-5</span>"</span>></span><span>para. 5(5)(a)</span><span class="html-tag"></ukm:Section></span></div><div class="line"><span class="html-tag"><ukm:Section<span class="html-attribute"> <span class="html-attribute-name">Ref</span>="<span class="html-attribute-value">schedule-19AB-paragraph-5-5-b</span>"</span><span class="html-attribute"> <span class="html-attribute-name">URI</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/id/ukpga/1988/1/schedule/19AB/paragraph/5/5/b</span>"</span><span class="html-attribute"> <span class="html-attribute-name">FoundRef</span>="<span class="html-attribute-value">schedule-19AB-paragraph-5</span>"</span>></span><span>(b)</span><span class="html-tag"></ukm:Section></span></div></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></ukm:AffectedProvisions></span></div></div><div class="line"><span class="html-tag"><ukm:AffectingTitle></span><span>The Financial Services and Markets Act 2000 (Consequential Amendments) (Taxes) Order 2001</span><span class="html-tag"></ukm:AffectingTitle></span></div><div class="folder" id="folder15"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><ukm:AffectingProvisions></span></div><div class="opened"><div class="line"><span class="html-tag"><ukm:Section<span class="html-attribute"> <span class="html-attribute-name">Ref</span>="<span class="html-attribute-value">article-52-2-n</span>"</span><span class="html-attribute"> <span class="html-attribute-name">URI</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/id/uksi/2001/3629/article/52/2/n</span>"</span>></span><span>art. 52(2)(n)</span><span class="html-tag"></ukm:Section></span></div></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></ukm:AffectingProvisions></span></div></div><div class="folder" id="folder16"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><ukm:CommencementAuthority></span></div><div class="opened"><div class="line"><span class="html-tag"><ukm:Section<span class="html-attribute"> <span class="html-attribute-name">Ref</span>="<span class="html-attribute-value">article-1-2-a</span>"</span><span class="html-attribute"> <span class="html-attribute-name">URI</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/id/uksi/2001/3629/article/1/2/a</span>"</span>></span><span>art. 1(2)(a)</span><span class="html-tag"></ukm:Section></span></div></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></ukm:CommencementAuthority></span></div></div><div class="folder" id="folder17"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><ukm:InForceDates></span></div><div class="opened"><div class="line"><span class="html-tag"><ukm:InForce<span class="html-attribute"> <span class="html-attribute-name">Date</span>="<span class="html-attribute-value">2001-12-01</span>"</span><span class="html-attribute"> <span class="html-attribute-name">Qualification</span>="<span class="html-attribute-value">with effect in accordance with</span>"</span><span class="html-attribute"> <span class="html-attribute-name">OtherQualification</span>="<span class="html-attribute-value">art. 1(2)(a)</span>"</span>/></span></div></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></ukm:InForceDates></span></div></div></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></ukm:UnappliedEffect></span></div></div><div class="folder" id="folder18"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><ukm:UnappliedEffect<span class="html-attribute"> <span class="html-attribute-name">AffectedYear</span>="<span class="html-attribute-value">1988</span>"</span><span class="html-attribute"> <span class="html-attribute-name">Notes</span>="<span class="html-attribute-value">This amendment not applied to legislation.gov.uk. S.I. 2010/875 was revoked (27.8.2010) by SI 2010/1906, reg. 2 without having come into force</span>"</span><span class="html-attribute"> <span class="html-attribute-name">Modified</span>="<span class="html-attribute-value">2022-04-21T15:01:57Z</span>"</span><span class="html-attribute"> <span class="html-attribute-name">AffectedExtent</span>="<span class="html-attribute-value">E+W+S+N.I.</span>"</span><span class="html-attribute"> <span class="html-attribute-name">AffectedProvisions</span>="<span class="html-attribute-value">Act</span>"</span><span class="html-attribute"> <span class="html-attribute-name">Type</span>="<span class="html-attribute-value">applied (with modifications)</span>"</span><span class="html-attribute"> <span class="html-attribute-name">AffectedClass</span>="<span class="html-attribute-value">UnitedKingdomPublicGeneralAct</span>"</span><span class="html-attribute"> <span class="html-attribute-name">Row</span>="<span class="html-attribute-value">264</span>"</span><span class="html-attribute"> <span class="html-attribute-name">AffectedNumber</span>="<span class="html-attribute-value">1</span>"</span><span class="html-attribute"> <span class="html-attribute-name">AffectingEffectsExtent</span>="<span class="html-attribute-value">E+W+S</span>"</span><span class="html-attribute"> <span class="html-attribute-name">AffectingProvisions</span>="<span class="html-attribute-value">reg. 16 Sch. 2</span>"</span><span class="html-attribute"> <span class="html-attribute-name">AffectingURI</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/id/uksi/2010/875</span>"</span><span class="html-attribute"> <span class="html-attribute-name">AffectingClass</span>="<span class="html-attribute-value">UnitedKingdomStatutoryInstrument</span>"</span><span class="html-attribute"> <span class="html-attribute-name">URI</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/id/effect/key-b9054a3d085379b318defb2d493dc991</span>"</span><span class="html-attribute"> <span class="html-attribute-name">AffectedURI</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/id/ukpga/1988/1</span>"</span><span class="html-attribute"> <span class="html-attribute-name">AffectingYear</span>="<span class="html-attribute-value">2010</span>"</span><span class="html-attribute"> <span class="html-attribute-name">RequiresApplied</span>="<span class="html-attribute-value">false</span>"</span><span class="html-attribute"> <span class="html-attribute-name">AffectingNumber</span>="<span class="html-attribute-value">875</span>"</span><span class="html-attribute"> <span class="html-attribute-name">EffectId</span>="<span class="html-attribute-value">key-b9054a3d085379b318defb2d493dc991</span>"</span>></span></div><div class="opened"><div class="line"><span class="html-tag"><ukm:AffectedTitle></span><span>Income and Corporation Taxes Act 1988</span><span class="html-tag"></ukm:AffectedTitle></span></div><div class="line"><span class="html-tag"><ukm:AffectedProvisions></span><span>Act</span><span class="html-tag"></ukm:AffectedProvisions></span></div><div class="line"><span class="html-tag"><ukm:AffectingTitle></span><span>The Employment and Support Allowance (Transitional Provisions, Housing Benefit and Council Tax Benefit) (Existing Awards) Regulations 2010</span><span class="html-tag"></ukm:AffectingTitle></span></div><div class="folder" id="folder19"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><ukm:AffectingProvisions></span></div><div class="opened"><div class="line"><span class="html-tag"><ukm:Section<span class="html-attribute"> <span class="html-attribute-name">Ref</span>="<span class="html-attribute-value">regulation-16</span>"</span><span class="html-attribute"> <span class="html-attribute-name">URI</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/id/uksi/2010/875/regulation/16</span>"</span>></span><span>reg. 16</span><span class="html-tag"></ukm:Section></span></div><span> </span><div class="line"><span class="html-tag"><ukm:Section<span class="html-attribute"> <span class="html-attribute-name">Ref</span>="<span class="html-attribute-value">schedule-2</span>"</span><span class="html-attribute"> <span class="html-attribute-name">URI</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/id/uksi/2010/875/schedule/2</span>"</span>></span><span>Sch. 2</span><span class="html-tag"></ukm:Section></span></div></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></ukm:AffectingProvisions></span></div></div><div class="folder" id="folder20"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><ukm:CommencementAuthority></span></div><div class="opened"><div class="line"><span class="html-tag"><ukm:Section<span class="html-attribute"> <span class="html-attribute-name">Ref</span>="<span class="html-attribute-value">regulation-1-2</span>"</span><span class="html-attribute"> <span class="html-attribute-name">URI</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/id/uksi/2010/875/regulation/1/2</span>"</span>></span><span>reg. 1(2)</span><span class="html-tag"></ukm:Section></span></div></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></ukm:CommencementAuthority></span></div></div><div class="folder" id="folder21"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><ukm:InForceDates></span></div><div class="opened"><div class="line"><span class="html-tag"><ukm:InForce<span class="html-attribute"> <span class="html-attribute-name">Date</span>="<span class="html-attribute-value">2010-10-01</span>"</span><span class="html-attribute"> <span class="html-attribute-name">Qualification</span>="<span class="html-attribute-value">wholly in force</span>"</span>/></span></div></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></ukm:InForceDates></span></div></div></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></ukm:UnappliedEffect></span></div></div></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></ukm:UnappliedEffects></span></div></div></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></ukm:PrimaryMetadata></span></div></div><span> </span><div class="folder" id="folder22"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><ukm:Alternatives></span></div><div class="opened"><div class="line"><span class="html-tag"><ukm:Alternative<span class="html-attribute"> <span class="html-attribute-name">URI</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/ukpga/1988/1/pdfs/ukpga_19880001_en.pdf</span>"</span><span class="html-attribute"> <span class="html-attribute-name">Date</span>="<span class="html-attribute-value">2015-08-17</span>"</span><span class="html-attribute"> <span class="html-attribute-name">Size</span>="<span class="html-attribute-value">23256248</span>"</span>/></span></div></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></ukm:Alternatives></span></div></div><span> </span><div class="folder" id="folder23"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><ukm:Statistics></span></div><div class="opened"><span> </span><div class="line"><span class="html-tag"><ukm:TotalParagraphs<span class="html-attribute"> <span class="html-attribute-name">Value</span>="<span class="html-attribute-value">2529</span>"</span>/></span></div><span> </span><div class="line"><span class="html-tag"><ukm:BodyParagraphs<span class="html-attribute"> <span class="html-attribute-name">Value</span>="<span class="html-attribute-value">1570</span>"</span>/></span></div><span> </span><div class="line"><span class="html-tag"><ukm:ScheduleParagraphs<span class="html-attribute"> <span class="html-attribute-name">Value</span>="<span class="html-attribute-value">959</span>"</span>/></span></div><span> </span><div class="line"><span class="html-tag"><ukm:AttachmentParagraphs<span class="html-attribute"> <span class="html-attribute-name">Value</span>="<span class="html-attribute-value">0</span>"</span>/></span></div><span> </span><div class="line"><span class="html-tag"><ukm:TotalImages<span class="html-attribute"> <span class="html-attribute-name">Value</span>="<span class="html-attribute-value">89</span>"</span>/></span></div><span> </span></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></ukm:Statistics></span></div></div><span> </span></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></ukm:Metadata></span></div></div><div class="folder" id="folder24"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><Primary></span></div><div class="opened"><div class="folder" id="folder25"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><Schedules<span class="html-attribute"> <span class="html-attribute-name">RestrictExtent</span>="<span class="html-attribute-value">E+W+S+N.I.</span>"</span><span class="html-attribute"> <span class="html-attribute-name">RestrictEndDate</span>="<span class="html-attribute-value">1991-07-25</span>"</span>></span></div><div class="opened"><div class="line"><span class="html-tag"><Title></span><span> SCHEDULES</span><span class="html-tag"></Title></span></div><div class="folder" id="folder26"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><Schedule<span class="html-attribute"> <span class="html-attribute-name">DocumentURI</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/ukpga/1988/1/schedule/27/1991-02-01</span>"</span><span class="html-attribute"> <span class="html-attribute-name">IdURI</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/id/ukpga/1988/1/schedule/27</span>"</span><span class="html-attribute"> <span class="html-attribute-name">NumberOfProvisions</span>="<span class="html-attribute-value">21</span>"</span><span class="html-attribute"> <span class="html-attribute-name">RestrictExtent</span>="<span class="html-attribute-value">E+W+S+N.I.</span>"</span><span class="html-attribute"> <span class="html-attribute-name">RestrictEndDate</span>="<span class="html-attribute-value">2009-12-01</span>"</span><span class="html-attribute"> <span class="html-attribute-name">id</span>="<span class="html-attribute-value">schedule-27</span>"</span>></span></div><div class="opened"><div class="folder" id="folder27"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><Number></span></div><div class="opened"><span> </span><div class="line"><span class="html-tag"><CommentaryRef<span class="html-attribute"> <span class="html-attribute-name">Ref</span>="<span class="html-attribute-value">c23828701</span>"</span>/></span></div><span>SCHEDULE 27</span></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></Number></span></div></div><div class="folder" id="folder28"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><TitleBlock></span></div><div class="opened"><div class="folder" id="folder29"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><Title></span></div><div class="opened"><span> DISTRIBUTING FUNDS </span><div class="line"><span class="html-tag"><CommentaryRef<span class="html-attribute"> <span class="html-attribute-name">Ref</span>="<span class="html-attribute-value">c21639631</span>"</span>/></span></div></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></Title></span></div></div></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></TitleBlock></span></div></div><div class="folder" id="folder30"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><ScheduleBody></span></div><div class="opened"><div class="folder" id="folder31"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><Part<span class="html-attribute"> <span class="html-attribute-name">DocumentURI</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/ukpga/1988/1/schedule/27/part/I/1991-02-01</span>"</span><span class="html-attribute"> <span class="html-attribute-name">IdURI</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/id/ukpga/1988/1/schedule/27/part/I</span>"</span><span class="html-attribute"> <span class="html-attribute-name">NumberOfProvisions</span>="<span class="html-attribute-value">5</span>"</span><span class="html-attribute"> <span class="html-attribute-name">RestrictExtent</span>="<span class="html-attribute-value">E+W+S+N.I.</span>"</span><span class="html-attribute"> <span class="html-attribute-name">RestrictEndDate</span>="<span class="html-attribute-value">2009-12-01</span>"</span><span class="html-attribute"> <span class="html-attribute-name">id</span>="<span class="html-attribute-value">schedule-27-part-I</span>"</span>></span></div><div class="opened"><div class="line"><span class="html-tag"><Number></span><span>PART I</span><span class="html-tag"></Number></span></div><div class="line"><span class="html-tag"><Title></span><span> THE DISTRIBUTION TEST</span><span class="html-tag"></Title></span></div><div class="folder" id="folder32"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><Pblock<span class="html-attribute"> <span class="html-attribute-name">DocumentURI</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/ukpga/1988/1/schedule/27/part/I/crossheading/income-taxable-under-case-iv-or-case-v-of-schedule-d/1991-02-01</span>"</span><span class="html-attribute"> <span class="html-attribute-name">IdURI</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/id/ukpga/1988/1/schedule/27/part/I/crossheading/income-taxable-under-case-iv-or-case-v-of-schedule-d</span>"</span><span class="html-attribute"> <span class="html-attribute-name">NumberOfProvisions</span>="<span class="html-attribute-value">1</span>"</span><span class="html-attribute"> <span class="html-attribute-name">RestrictExtent</span>="<span class="html-attribute-value">E+W+S+N.I.</span>"</span><span class="html-attribute"> <span class="html-attribute-name">RestrictEndDate</span>="<span class="html-attribute-value">2009-04-01</span>"</span><span class="html-attribute"> <span class="html-attribute-name">id</span>="<span class="html-attribute-value">schedule-27-part-I-crossheading-income-taxable-under-case-iv-or-case-v-of-schedule-d</span>"</span>></span></div><div class="opened"><div class="line"><span class="html-tag"><Title></span><span> Income taxable under Case IV or Case V of Schedule D</span><span class="html-tag"></Title></span></div><div class="folder" id="folder33"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><P1group<span class="html-attribute"> <span class="html-attribute-name">Layout</span>="<span class="html-attribute-value">below</span>"</span><span class="html-attribute"> <span class="html-attribute-name">RestrictExtent</span>="<span class="html-attribute-value">E+W+S+N.I.</span>"</span><span class="html-attribute"> <span class="html-attribute-name">RestrictEndDate</span>="<span class="html-attribute-value">2004-07-22</span>"</span>></span></div><div class="opened"><div class="line"><span class="html-tag"><Title/></span></div><div class="folder" id="folder34"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><P1<span class="html-attribute"> <span class="html-attribute-name">DocumentURI</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/ukpga/1988/1/schedule/27/paragraph/3/1991-02-01</span>"</span><span class="html-attribute"> <span class="html-attribute-name">IdURI</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/id/ukpga/1988/1/schedule/27/paragraph/3</span>"</span><span class="html-attribute"> <span class="html-attribute-name">id</span>="<span class="html-attribute-value">schedule-27-paragraph-3</span>"</span>></span></div><div class="opened"><div class="line"><span class="html-tag"><Pnumber></span><span>3</span><span class="html-tag"></Pnumber></span></div><div class="folder" id="folder35"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><P1para></span></div><div class="opened"><div class="folder" id="folder36"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><P2<span class="html-attribute"> <span class="html-attribute-name">DocumentURI</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/ukpga/1988/1/schedule/27/paragraph/3/1/1991-02-01</span>"</span><span class="html-attribute"> <span class="html-attribute-name">IdURI</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/id/ukpga/1988/1/schedule/27/paragraph/3/1</span>"</span><span class="html-attribute"> <span class="html-attribute-name">id</span>="<span class="html-attribute-value">schedule-27-paragraph-3-1</span>"</span>></span></div><div class="opened"><div class="line"><span class="html-tag"><Pnumber></span><span>1</span><span class="html-tag"></Pnumber></span></div><div class="folder" id="folder37"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><P2para></span></div><div class="opened"><div class="line"><span class="html-tag"><Text></span><span>Sub-paragraph (2) below applies if any sums which form part of the income of an offshore fund falling within section 759(1)(b) or (c) are of such a nature that—</span><span class="html-tag"></Text></span></div><div class="folder" id="folder38"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><P3<span class="html-attribute"> <span class="html-attribute-name">DocumentURI</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/ukpga/1988/1/schedule/27/paragraph/3/1/a/1991-02-01</span>"</span><span class="html-attribute"> <span class="html-attribute-name">IdURI</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/id/ukpga/1988/1/schedule/27/paragraph/3/1/a</span>"</span><span class="html-attribute"> <span class="html-attribute-name">id</span>="<span class="html-attribute-value">schedule-27-paragraph-3-1-a</span>"</span>></span></div><div class="opened"><div class="line"><span class="html-tag"><Pnumber></span><span>a</span><span class="html-tag"></Pnumber></span></div><div class="folder" id="folder39"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><P3para></span></div><div class="opened"><div class="line"><span class="html-tag"><Text></span><span>the holders of interests in the fund who are either companies resident in the United Kingdom or individuals domiciled and resident there—</span><span class="html-tag"></Text></span></div><div class="folder" id="folder40"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><P4<span class="html-attribute"> <span class="html-attribute-name">DocumentURI</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/ukpga/1988/1/schedule/27/paragraph/3/1/a/i/1991-02-01</span>"</span><span class="html-attribute"> <span class="html-attribute-name">IdURI</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/id/ukpga/1988/1/schedule/27/paragraph/3/1/a/i</span>"</span><span class="html-attribute"> <span class="html-attribute-name">id</span>="<span class="html-attribute-value">schedule-27-paragraph-3-1-a-i</span>"</span>></span></div><div class="opened"><div class="line"><span class="html-tag"><Pnumber></span><span>i</span><span class="html-tag"></Pnumber></span></div><div class="folder" id="folder41"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><P4para></span></div><div class="opened"><div class="line"><span class="html-tag"><Text></span><span>are chargeable to tax under Case IV or Case V of Schedule D in respect of such of those sums as are referable to their interests; or</span><span class="html-tag"></Text></span></div></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></P4para></span></div></div></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></P4></span></div></div><div class="folder" id="folder42"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><P4<span class="html-attribute"> <span class="html-attribute-name">DocumentURI</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/ukpga/1988/1/schedule/27/paragraph/3/1/a/ii/1991-02-01</span>"</span><span class="html-attribute"> <span class="html-attribute-name">IdURI</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/id/ukpga/1988/1/schedule/27/paragraph/3/1/a/ii</span>"</span><span class="html-attribute"> <span class="html-attribute-name">id</span>="<span class="html-attribute-value">schedule-27-paragraph-3-1-a-ii</span>"</span>></span></div><div class="opened"><div class="line"><span class="html-tag"><Pnumber></span><span>ii</span><span class="html-tag"></Pnumber></span></div><div class="folder" id="folder43"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><P4para></span></div><div class="opened"><div class="line"><span class="html-tag"><Text></span><span>if any of that income is derived from assets within the United Kingdom, would be so chargeable had the assets been outside the United Kingdom; and</span><span class="html-tag"></Text></span></div></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></P4para></span></div></div></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></P4></span></div></div></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></P3para></span></div></div></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></P3></span></div></div><div class="folder" id="folder44"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><P3<span class="html-attribute"> <span class="html-attribute-name">DocumentURI</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/ukpga/1988/1/schedule/27/paragraph/3/1/b/1991-02-01</span>"</span><span class="html-attribute"> <span class="html-attribute-name">IdURI</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/id/ukpga/1988/1/schedule/27/paragraph/3/1/b</span>"</span><span class="html-attribute"> <span class="html-attribute-name">id</span>="<span class="html-attribute-value">schedule-27-paragraph-3-1-b</span>"</span>></span></div><div class="opened"><div class="line"><span class="html-tag"><Pnumber></span><span>b</span><span class="html-tag"></Pnumber></span></div><div class="folder" id="folder45"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><P3para></span></div><div class="opened"><div class="line"><span class="html-tag"><Text></span><span>the holders of interests who are not such companies or individuals would be chargeable as mentioned in sub-paragraph (i) or (ii) above if they were resident in the United Kingdom or, in the case of individuals, if they were domiciled and both resident and ordinarily resident there.</span><span class="html-tag"></Text></span></div></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></P3para></span></div></div></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></P3></span></div></div></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></P2para></span></div></div></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></P2></span></div></div><div class="folder" id="folder46"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><P2<span class="html-attribute"> <span class="html-attribute-name">DocumentURI</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/ukpga/1988/1/schedule/27/paragraph/3/2/1991-02-01</span>"</span><span class="html-attribute"> <span class="html-attribute-name">IdURI</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/id/ukpga/1988/1/schedule/27/paragraph/3/2</span>"</span><span class="html-attribute"> <span class="html-attribute-name">id</span>="<span class="html-attribute-value">schedule-27-paragraph-3-2</span>"</span>></span></div><div class="opened"><div class="line"><span class="html-tag"><Pnumber></span><span>2</span><span class="html-tag"></Pnumber></span></div><div class="folder" id="folder47"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><P2para></span></div><div class="opened"><div class="line"><span class="html-tag"><Text></span><span>To the extent that sums falling within sub-paragraph (1) above do not actually form part of a distribution complying with paragraphs 1(1)(c) and (d) above, they shall be treated for the purposes of this Part of this Schedule—</span><span class="html-tag"></Text></span></div><div class="folder" id="folder48"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><P3<span class="html-attribute"> <span class="html-attribute-name">DocumentURI</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/ukpga/1988/1/schedule/27/paragraph/3/2/a/1991-02-01</span>"</span><span class="html-attribute"> <span class="html-attribute-name">IdURI</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/id/ukpga/1988/1/schedule/27/paragraph/3/2/a</span>"</span><span class="html-attribute"> <span class="html-attribute-name">id</span>="<span class="html-attribute-value">schedule-27-paragraph-3-2-a</span>"</span>></span></div><div class="opened"><div class="line"><span class="html-tag"><Pnumber></span><span>a</span><span class="html-tag"></Pnumber></span></div><div class="folder" id="folder49"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><P3para></span></div><div class="opened"><div class="line"><span class="html-tag"><Text></span><span>as a distribution complying with those paragraphs and made out of the income of which they form part; and</span><span class="html-tag"></Text></span></div></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></P3para></span></div></div></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></P3></span></div></div><div class="folder" id="folder50"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><P3<span class="html-attribute"> <span class="html-attribute-name">DocumentURI</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/ukpga/1988/1/schedule/27/paragraph/3/2/b/1991-02-01</span>"</span><span class="html-attribute"> <span class="html-attribute-name">IdURI</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/id/ukpga/1988/1/schedule/27/paragraph/3/2/b</span>"</span><span class="html-attribute"> <span class="html-attribute-name">id</span>="<span class="html-attribute-value">schedule-27-paragraph-3-2-b</span>"</span>></span></div><div class="opened"><div class="line"><span class="html-tag"><Pnumber></span><span>b</span><span class="html-tag"></Pnumber></span></div><div class="folder" id="folder51"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><P3para></span></div><div class="opened"><div class="line"><span class="html-tag"><Text></span><span>as paid to the holders of the interests to which they are referable.</span><span class="html-tag"></Text></span></div></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></P3para></span></div></div></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></P3></span></div></div></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></P2para></span></div></div></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></P2></span></div></div></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></P1para></span></div></div></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></P1></span></div></div></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></P1group></span></div></div></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></Pblock></span></div></div></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></Part></span></div></div></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></ScheduleBody></span></div></div></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></Schedule></span></div></div></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></Schedules></span></div></div></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></Primary></span></div></div><div class="folder" id="folder52"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><Commentaries></span></div><div class="opened"><div class="folder" id="folder53"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><Commentary<span class="html-attribute"> <span class="html-attribute-name">id</span>="<span class="html-attribute-value">c23828701</span>"</span><span class="html-attribute"> <span class="html-attribute-name">Type</span>="<span class="html-attribute-value">C</span>"</span>></span></div><div class="opened"><div class="folder" id="folder54"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><Para></span></div><div class="opened"><div class="folder" id="folder55"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><Text></span></div><div class="opened"><div class="line"><span class="html-tag"><CitationSubRef<span class="html-attribute"> <span class="html-attribute-name">id</span>="<span class="html-attribute-value">c60454</span>"</span><span class="html-attribute"> <span class="html-attribute-name">URI</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/id/ukpga/1988/1/schedule/27</span>"</span><span class="html-attribute"> <span class="html-attribute-name">SectionRef</span>="<span class="html-attribute-value">schedule-27</span>"</span>></span><span>Sch. 27</span><span class="html-tag"></CitationSubRef></span></div><span> applied (with modifications) (22.10.2004 with effect in accordance with reg. 1(2) of the affecting S.I.) by </span><div class="line"><span class="html-tag"><Citation<span class="html-attribute"> <span class="html-attribute-name">URI</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/id/uksi/2004/2572</span>"</span><span class="html-attribute"> <span class="html-attribute-name">id</span>="<span class="html-attribute-value">c60455</span>"</span><span class="html-attribute"> <span class="html-attribute-name">Class</span>="<span class="html-attribute-value">UnitedKingdomStatutoryInstrument</span>"</span><span class="html-attribute"> <span class="html-attribute-name">Year</span>="<span class="html-attribute-value">2004</span>"</span><span class="html-attribute"> <span class="html-attribute-name">Number</span>="<span class="html-attribute-value">2572</span>"</span><span class="html-attribute"> <span class="html-attribute-name">Title</span>="<span class="html-attribute-value">The Offshore Funds Regulations 2004</span>"</span>></span><span>The Offshore Funds Regulations 2004 (S.I. 2004/2572)</span><span class="html-tag"></Citation></span></div><span>, </span><div class="line"><span class="html-tag"><CitationSubRef<span class="html-attribute"> <span class="html-attribute-name">id</span>="<span class="html-attribute-value">c60456</span>"</span><span class="html-attribute"> <span class="html-attribute-name">URI</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/id/uksi/2004/2572/regulation/1/1</span>"</span><span class="html-attribute"> <span class="html-attribute-name">Operative</span>="<span class="html-attribute-value">true</span>"</span><span class="html-attribute"> <span class="html-attribute-name">CitationRef</span>="<span class="html-attribute-value">c60455</span>"</span><span class="html-attribute"> <span class="html-attribute-name">SectionRef</span>="<span class="html-attribute-value">regulation-1-1</span>"</span>></span><span>regs. 1(1)</span><span class="html-tag"></CitationSubRef></span></div><span>, </span><div class="line"><span class="html-tag"><CitationSubRef<span class="html-attribute"> <span class="html-attribute-name">id</span>="<span class="html-attribute-value">c60457</span>"</span><span class="html-attribute"> <span class="html-attribute-name">URI</span>="<span class="html-attribute-value">http://www.legislation.gov.uk/id/uksi/2004/2572/regulation/4</span>"</span><span class="html-attribute"> <span class="html-attribute-name">CitationRef</span>="<span class="html-attribute-value">c60455</span>"</span><span class="html-attribute"> <span class="html-attribute-name">SectionRef</span>="<span class="html-attribute-value">regulation-4</span>"</span>></span><span>4</span><span class="html-tag"></CitationSubRef></span></div></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></Text></span></div></div></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></Para></span></div></div></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></Commentary></span></div></div><div class="folder" id="folder56"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><Commentary<span class="html-attribute"> <span class="html-attribute-name">id</span>="<span class="html-attribute-value">c21639631</span>"</span><span class="html-attribute"> <span class="html-attribute-name">Type</span>="<span class="html-attribute-value">M</span>"</span>></span></div><div class="opened"><div class="folder" id="folder57"><div class="line"><span class="folder-button fold"></span><span class="html-tag"><Para></span></div><div class="opened"><div class="line"><span class="html-tag"><Text></span><span>Source—[1984 Sch.19; 1986 s.50; 1987 (No.2) s.66] </span><span class="html-tag"></Text></span></div></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></Para></span></div></div></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></Commentary></span></div></div></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></Commentaries></span></div></div></div><span class="folded hidden">...</span><div class="line"><span class="html-tag"></Legislation></span></div></div></div></body></html>