PART 2Exempt unauthorised unit trusts
CHAPTER 7Miscellaneous provisions
Treatment of investment transactions carried out by exempt unauthorised unit trusts24
1
An investment transaction entered into by the trustees of an exempt unauthorised unit trust is treated for the purposes of the Income Tax Acts as entered into otherwise than in the course of a trade.
F12
For the purposes of paragraph (1) an “investment transaction” is an investment transaction specified by regulation 2 of the Investment Transactions (Tax) Regulations 2014.