[F1 PART 6A U.K. FUNDS INVESTING IN NON-REPORTING OFFSHORE FUNDS

Textual Amendments

F1 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)

CHAPTER 6 U.K. Income gains and computation of income gains

General provisions U.K.

85Z.— (1)  An income gain arises to a person on the disposal of an asset if a basic gain arises on the disposal.

(2) The disposal gives rise to an income gain of an amount equal to the basic gain on the disposal.

(3) The following provisions of this Chapter explain how the basic gain is computed.]