Application of section 234A of ICTAU.K.
70.—(1) Section 234A of ICTA M1 (information relating to distributions) applies in relation to an authorised investment fund with any necessary modifications.
(2) In the appropriate statement sent under that section to a participant within the charge to corporation tax, the legal owner of the authorised investment fund must include a statement showing the legal owner's net liability to corporation tax in respect of the gross income.
(3) In paragraph (2)—
“gross income” has the same meaning as in regulation 50, and
“net liability to corporation tax” is to be construed in accordance with regulation 49(3).
Marginal Citations
M1Section 234A was inserted by section 32(1) of the Finance (No. 2) Act 1992 (c. 48) and amended by paragraph 2(2) of Schedule 37 to the Finance Act 1996 (c. 8).