PART 4THE TREATMENT OF PARTICIPANTS IN AUTHORISED INVESTMENT FUNDS

CHAPTER 3PARTICIPANTS CHARGEABLE TO CORPORATION TAX

Dividend distributions

F1Diversely owned AIFs and financial traders: treatment of shares and units52B

1

This regulation and regulation 52C apply if a financial trader has held, or holds, shares or units in a diversely owned AIF.

2

In computing the trading profits or losses of the financial trader for the relevant period, the following amounts must be brought into account—

a

all distributions received by or credited to the financial trader in respect of such shares or units for the relevant period; and

b

any amount required to be brought into account under regulation 52C.

3

In this regulation and in regulation 52D(2) references to distributions are subject to section 130 of CTA 2009 (insurers receiving distributions etc).

4

In this regulation and in regulations 52C and 52D—

  • “relevant period” means—

    1. a

      in the case of a financial trader within the charge to corporation tax, an accounting period, and

    2. b

      in the case of a financial trader within the charge to income tax, a period of account;

  • “financial trader” has the meaning given by regulation 52E.