# The Authorised Investment Funds (Tax) Regulations 2006, Regulation 12: Accounts prepared in accordance with UK generally accepted accounting practice

Extent: E+W+S+N.I.

(1) In the case of an authorised investment fund that prepares accounts in accordance with UK generally accepted accounting practice, capital profits, gains or losses arising from a creditor relationship in an accounting period, or capital profits, gains or losses arising from a derivative contract in an accounting period, are such profits, gains or losses as fall to be dealt with under the heading “net capital gains/losses” in the statement of total return for the accounting period.
(2) For the purposes of paragraph (1), the statement of total return for an accounting period is the statement of total return which, in accordance with the Statement of Recommended Practice used for the accounting period, must be included in the accounts contained in the annual report of the authorised investment fund which deals with the accounting period.
(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Source: https://www.legislation.gov.uk/uksi/2006/964/regulation/12 (the official version)
Page: https://openlegislation.uk/authorised-investment-funds-tax-regulations-2006/regulation-12
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.