Regulation 69Z23 Deduction of tax from PAIF distributions (interest)F1
United Kingdom
On making a PAIF distribution (interest), an open-ended investment company to which this Part applies must deduct a sum representing income tax at the F2basic rate in force for the tax year in which the PAIF distribution (interest) is made.
Accordingly, the sum is one to which section 874 of ITA 2007 applies.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
This regulation is subject to regulation 69Z24 (distribution payments to be made without deduction of tax).
Annotations
Textual amendments
- F1
Pt. 4A inserted (6.4.2008) by The Authorised Investment Funds (Tax) (Amendment) Regulations 2008 (S.I. 2008/705), regs. 1, 5
- F2
Words in reg. 69Z23(1) substituted (1.1.2009) by The Authorised Investment Funds (Tax) (Amendment No. 3) Regulations 2008 (S.I. 2008/3159), regs. 1(1), 25(a)
- F3
Reg. 69Z23(3) omitted (1.1.2009) by virtue of The Authorised Investment Funds (Tax) (Amendment No. 3) Regulations 2008 (S.I. 2008/3159), regs. 1(1), 25(b)