The Offshore Funds (Tax) (Amendment) Regulations 2011 No. 1211

PART 2 Equalisation Arrangements

CHAPTER 1

Introduction and amendments to principal Regulations

Amendment to regulation 99 (disposals of interests)

13.  In regulation 99 (disposals of interests) after paragraph (2) insert—

“(2A) But where regulation 94A has applied, the expenditure given for the acquisition of the asset shall be treated as reduced by an amount equal to the amount of any reduction under regulation 94A(2)(b).”.