PART 3REPORTING FUNDS AND THE TREATMENT OF PARTICIPANTS IN REPORTING FUNDS
CHAPTER 8THE TAX TREATMENT OF PARTICIPANTS IN REPORTING FUNDS
Charitable companies and charitable trusts
Special provisions applying to charitable companies and charitable trusts101
1
This regulation applies if—
a
a charitable company is a participant in a reporting fund, or
b
the trustees of a charitable trust are participants in a reporting fund.
2
No liability to tax arises in respect of any amount which, under regulation 94(1), is treated as distributed to a charitable company or the trustees of a charitable trust.
3
Paragraph (2) of regulation 99 (read with paragraphs (3) and (4) of that regulation) does not apply to the disposal of an interest in a reporting fund by a charitable company or the trustees of a charitable trust.
4
In this regulation “charity” and “charitable company” have the same meaning as in section 506 of ICTA M1.