Finance Act 1999, Section 68 is up to date with all changes known to be in force on or before 03 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
F1(1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(2)Section 328 of the Taxes Act 1988 (agreements with the Board about the taxation regime for common investment funds) shall cease to have effect.
(3)Subsections (1) and (2) above have effect in relation to—
(a)any income arising to a common investment fund on or after 6th April 1999; and
(b)any distribution made by such a fund for a distribution period beginning on or after that date.
(4)For the purposes of the Tax Acts where any common investment fund was in existence on 5th April 1999—
(a)the distribution period of that fund which was current on that date for the purposes of section 469 of the Taxes Act 1988 shall be taken to have ended with that date; and
(b)the fund’s first accounting period for the purposes of corporation tax, and its first distribution period for the purposes of the enactments relating to authorised unit trusts, shall each be taken to have begun with 6th April 1999.
(5)In this section “common investment fund” means any common investment fund established under section 42 of the Administration of Justice Act 1982.
Textual Amendments
F1S. 68(1) repealed (1.4.2010 with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)
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