Version Superseded: 01/04/2009
Point in time view as at 06/04/2007.
There are currently no known outstanding effects for the Finance Act 2004, Cross Heading: Treatment of umbrella funds and funds comprising more than one class of interest.
12(1)Schedule 10 to the Finance Act 1996 (c. 8) (loan relationships: collective investment schemes) is amended as follows.U.K.
(2)In paragraph 7, for “paragraphs (b) and (c) of subsection (1) of section 759” substitute “ paragraphs (b) and (c) of subsection (1) of section 756A ”.
(3)In paragraph 8 after sub-paragraph (7E) insert—
“(7F)In this paragraph “offshore fund” has the same meaning as in Chapter 5 of Part 17 of the Taxes Act 1988 and references to the assets of an offshore fund shall be construed in accordance with that Chapter.”.
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