PART IV PROVISIONS RELATING TO THE SCHEDULE D CHARGE
CHAPTER V COMPUTATIONAL PROVISIONS
Deductions
76B Levies and repayments under the Financial Services and Markets Act 2000: investment companies.
(1)
For the purposes of section 75 any sums paid by an investment company—
(a)
by way of a levy, or
(b)
as a result of an award of costs under costs rules,
shall be treated as part of its expenses of management.
(2)
If a payment is made to an investment company as a result of a repayment provision, the company shall be charged to tax under Case VI of Schedule D on the amount of that payment.
(3)
“Levy” has the meaning given in section F176A(2).
F2(4)
“Costs rules” has the meaning given in section 76A(6).
(5)
“Repayment provision” has the meaning given in section 76A(3).