Search Legislation

The Authorised Investment Funds (Tax) (Amendment) Regulations 2009

 Help about what version

What Version

  • Latest available (Revised)
  • Original (As made)
 Help about opening options

Opening Options

Status:

This is the original version (as it was originally made). This item of legislation is currently only available in its original format.

Amendment of regulation 70

This section has no associated Explanatory Memorandum

25.  In regulation 70 (application of section 234A of ICTA) after paragraph (3) insert—

(4) In the case of a Property AIF and a Tax Elected Fund, an appropriate statement for the purposes of section 234A of ICTA(1) includes a written statement—

(a)showing the details specified in paragraph (5),

(b)providing details to allow the participant to access an electronic means of calculating the amounts that would be shown in a written statement that would, apart from this paragraph, be provided in accordance with subsection (6) (in the case of a PAIF distribution (interest) or a TEF distribution (non-dividend)) or subsection (7) (in the case of a PAIF distribution (dividends) or a TEF distribution (dividend)) of section 234A, and

(c)providing the participant with an alternative method of obtaining the details of those amounts without recourse to electronic means.

(5) The specified details are—

(a)the gross amount of the distribution made to the participant,

(b)the number and class of units held by the participant in respect of which the distribution is made,

(c)the net amount of the distribution per unit,

(d)whether any tax has been deducted from the distribution,

(e)the date the distribution was made, and

(f)the percentage of the gross distribution attributable—

(i)in the case of a Property AIF, to PAIF distribution (interest) and to PAIF distribution (dividends), or

(ii)in the case of a Tax Elected Fund, to TEF distribution (dividend) and to TEF distribution (non-dividend)..

(1)

Section 234A was inserted by section 32(1) and (4) of the Finance (No. 2) Act 1992 (c. 45) and amended by paragraph 2(2)(a) of Schedule 37 to the Finance Act 1996 (c. 8).

Back to top

Options/Help

Print Options

Close

Legislation is available in different versions:

Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.

Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.

Close

Opening Options

Different options to open legislation in order to view more content on screen at once

Close

Explanatory Memorandum

Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources
Close

More Resources

Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as made version that was used for the print copy
  • correction slips

Click 'View More' or select 'More Resources' tab for additional information including:

  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • links to related legislation and further information resources