Corporation Tax Act 2010 Explanatory Notes

Section 1158: Meaning of “investment trust”

3297.This section explains that an investment trust is a company that is not a close company and is approved by the Commissioners for HMRC as an investment trust. It is based on section 842(1) of ICTA.

3298.Paragraph (b) makes it explicit that the requirement that the company is not a close company relates to the whole of the accounting period for which approval is sought.

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