Part 10Miscellaneous income
Chapter 5Distributions from unauthorised unit trusts
972Charge to tax under this Chapter
1
The charge to corporation tax on income applies to income treated as received by a unit holder from a unit trust scheme to which this section applies.
2
For the purposes of this Chapter a unit holder is treated as receiving such income if an amount is shown in the scheme's accounts as income available for payment to unit holders or for investment.
3
This section applies to a unit trust scheme if—
a
the scheme is an unauthorised unit trust, and
b
the trustees of the scheme are UK resident.
4
“Unauthorised unit trust” has the meaning given by section 989 of ITA 2007.