# The Authorised Investment Funds (Tax) (Amendment) Regulations 2013, Note: Explanatory note


(This note is not part of the Regulations)
These Regulations amend the Authorised Investment Funds (Tax) Regulations 2006 (S.I. 2006/964) (“the principal Regulations”).
Regulation 1 provides for citation, commencement and effect.
Regulation 2 introduces the amendments to the principal Regulations and inserts regulations 46A and 46B.
Regulation 46A provides that an annual payment made to a participant in an authorised investment fund is not a qualifying annual payment for the purposes of Chapter 6 of Part 15 of the Income Tax Act 2007 (deduction from annual payments and royalties) if certain conditions are met (so such payments will not be subject to a duty to withhold a sum representing income tax on the payment).
Regulation 46B reapplies tax withholding provisions in certain cases where the condition requiring the person making the payment to have reasonable grounds for believing that the participant is not resident in the United Kingdom is met but in fact the participant or, in the case of a trust, the beneficial owner is not resident in the United Kingdom.
A Tax Information and Impact Note covering this instrument was published on 29 May 2013 alongside a draft of this instrument and is available on the HMRC website at http://www.hmrc.gov.uk/thelibrary/tiins.htm. It remains an accurate summary of the impacts that apply to this instrument.

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Source: https://www.legislation.gov.uk/uksi/2013/1772/note (the official version)
Page: https://openlegislation.uk/authorised-investment-funds-tax-amendment-regulations-2013/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.