# The Authorised Investment Funds (Tax) Regulations 2006, Regulation 69Z: Meaning of “net income”

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

(1) In this Part the “net income” of an open-ended investment company for an accounting period means, in the case of an open-ended investment company that prepares accounts in accordance with UK generally accepted accounting practice, the amount falling to be dealt with under the heading net revenue/(expense) before taxation in the company’s statement of total return for the accounting period.
(2) In paragraph (1) “the company’s statement of total return for the accounting period” is to be construed in accordance with regulation 12.

---
Source: https://www.legislation.gov.uk/uksi/2006/964/regulation/69Z (the official version)
Page: https://openlegislation.uk/authorised-investment-funds-tax-regulations-2006/regulation-69Z
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.