# The Authorised Investment Funds (Tax) Regulations 2006, Regulation 12A: Deduction of expenses


Where an authorised investment fund makes an interest distribution for a distribution period, the amount that can be deducted under Step 2 in section 4(2) of CTA 2010 (amounts that can be relieved against the company’s total profits of the period) cannot exceed an amount that would reduce the total profits chargeable to corporation tax for the accounting period in which the last day of the distribution period falls to below the total amount chargeable to corporation tax in accordance with Part 4 of CTA 2009 for that accounting period.

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