Amendment of regulation 2G
This section has no associated Explanatory Memorandum
6. In regulation 2G (continuing account of a deceased investor and administration-period investments), in paragraph (2) for sub-paragraph (c) substitute—
“(c)the day on which a person within section 694A(2) of ITTOIA 2005(1) withdraws all account investments, other proceeds in respect of such investments and cash representing subscriptions to the account.”.
(1)
“ITTOIA 2005” is defined as the Income Tax (Trading and Other Income) Act 2005 in regulation 2(1)(a) of the Principal Regulations. Section 694A was inserted by section 27(1) of the Finance Act 2016 (c. 24).