F1PART 6AFUNDS INVESTING IN NON-REPORTING OFFSHORE FUNDS
Annotations:
Amendments (Textual)
CHAPTER 4Exceptions, etc from the charge to tax
Trading stock etc.85R
1
No liability to tax arises under regulation 85M if condition A or B is met.
2
Condition A is that the units in the fund are held as trading stock.
3
Condition B is that the disposal of the units is taken into account in computing the profits of a trade.
Pt. 6A inserted (with effect in accordance with reg. 1(2) of the amending S.I.) by The Authorised Investment Funds (Tax) (Amendment) Regulations 2010 (S.I. 2010/294), regs. 1(1), 21 (with regs. 25, 26)