PART 6FURTHER PROVISIONS RELATING TO AUTHORISED INVESTMENT FUNDS
CHAPTER 2AMALGAMATION OF AN AUTHORISED UNIT TRUST WITH, AND CONVERSION OF AN AUTHORISED UNIT TRUST TO, AN OPEN-ENDED INVESTMENT COMPANY
Ending of accounting period of the target trust79
1
An accounting period of the target trust (the “pre-transfer accounting period”) ends immediately before the transfer date; and, for the purposes of the Corporation Tax Acts, the whole of the scheme property of the target trust that is available for transfer is treated as having been transferred immediately after the end of that accounting period.
2
This regulation applies despite anything in section 12(1) to (7) of ICTA (periods of assessment for corporation tax).