The Unauthorised Unit Trusts (Tax) Regulations 2013
PART 1Introductory and general provisions
1Citation, commencement and effect
2Interpretation
PART 2Exempt unauthorised unit trusts
CHAPTER 1Meaning of “exempt unauthorised unit trust”
3Meaning of “exempt unauthorised unit trust”
CHAPTER 2Approval as an exempt unauthorised unit trust
4Application for approval as an exempt unauthorised unit trust
5Contents of application
6Response by the Commissioners to application
7Continuing requirements for approval
8Withdrawal of approval
9Appeal against rejection of application or withdrawal of approval
CHAPTER 3Gains accruing to an exempt unauthorised unit trust
10Exemption for gains accruing to an exempt unauthorised unit trust
CHAPTER 4Taxation of income of exempt unauthorised unit trusts
11Basis periods
12Treatment of income of an exempt unauthorised unit trust
13Treatment of capital expenditure of an exempt unauthorised unit trust
14Special provision for accrued income profits
CHAPTER 5Charge to tax on unit holders of exempt unauthorised unit trusts
15Charge to tax on unit holders
16Person liable
17Priority rules
CHAPTER 6Relief for trustees of an exempt unauthorised unit trust
18Relief for deemed payments by trustees of an exempt unauthorised unit trust
19Amounts ineligible for relief under regulation 18
20Amounts ineligible for relief under regulation 18: payments to certain unit holders where regulation 3(4) applies
21Effect of equalisation arrangements on relief for trustees
CHAPTER 7Miscellaneous provisions
22No tax charge for disposal of interests in offshore non-reporting funds: reporting condition
23No tax charge for disposal of interests in offshore non-reporting funds: qualifying index
24Treatment of investment transactions carried out by exempt unauthorised unit trusts
25Authorised investment funds investing in exempt unauthorised unit trusts
26Statements about income treated as received by unit holders
PART 3Non-exempt unauthorised unit trusts
CHAPTER 1Definition of non-exempt unauthorised unit trust
27Definition of non-exempt unauthorised unit trust
CHAPTER 2Tax treatment of non-exempt unauthorised unit trusts
28Non-exempt unauthorised unit trust treated as UK resident company
29Part 3 of CTA 2010 not to apply to non-exempt unauthorised unit trusts
PART 4Transitional provisions
CHAPTER 1Transitional provisions for exempt unauthorised unit trusts
30Transitional year for exempt unauthorised unit trusts
CHAPTER 2Transitional provisions for non-exempt unauthorised unit trusts
31Unauthorised unit trusts coming within charge to corporation tax: final deemed payments and accrued income profits
32Part 5 not to apply to mixed unauthorised unit trusts
PART 5Repeals and consequential amendments
33Chevening Estate Act 1959
34TCGA 1992
35Finance Act 2000
36ITTOIA 2005
37ITA 2007
38CTA 2009
39CTA 2010
40FA 2012
41Consequential repeals of other enactments
42AIF Regulations
43Offshore Funds Regulations
2013 No. 2819
Capital Gains Tax
Corporation Tax
Income Tax

The Unauthorised Unit Trusts (Tax) Regulations 2013

Approved by the House of Commons
Made
Coming into force in accordance with regulation 1(2) and (3)
The Treasury make the following Regulations in exercise of the powers conferred by section 217 of the Finance Act 20131.

In accordance with section 217(3) of that Act, a draft of this instrument was laid before the House of Commons and approved by a resolution of that House.