# The Authorised Investment Funds (Tax) Regulations 2006, Regulation 69Z3: Calculation of net income of F (residual)


Use this regulation to determine the net income of F (residual) for the purposes of this Part.
First rule
Determine the amount of the income arising to F (residual).
Second rule
Deduct any amounts whose deduction is required or allowed under the Corporation Tax Acts (including any distributions qualifying for exemption under section 208 of ICTA).
In this Part the amount so found is called the “pre-distribution amount”.
Third rule
Deduct the amount attributed to PAIF distributions (interest) under regulation 69Z14(b).
The result is the net income of F (residual).

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Source: https://www.legislation.gov.uk/uksi/2006/964/regulation/69Z3 (the official version)
Page: https://openlegislation.uk/authorised-investment-funds-tax-regulations-2006/regulation-69Z3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.