# The Authorised Investment Funds (Tax) Regulations 2006, Regulation 69Z57: Treatment of property investment income


(1) Section 7(2) of ICTA (treatment of certain payments and repayments of income tax: set off of tax) shall not apply to payments of property investment income.
(2) Property investment income arising to a Tax Elected Fund shall be treated for the purposes of the Tax Acts as a distribution that is exempt for the purposes of Part 9A of CTA 2009 (company distributions) but shall not be treated as franked investment income.

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Source: https://www.legislation.gov.uk/uksi/2006/964/regulation/69Z57 (the official version)
Page: https://openlegislation.uk/authorised-investment-funds-tax-regulations-2006/regulation-69Z57
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.