Regulation 85R Trading stock etc.F1
(1)
No liability to tax arises under regulation 85M if condition A or B is met.
(2)
Condition A is that the units in the fund are held as trading stock.
(3)
Condition B is that the disposal of the units is taken into account in computing the profits of a trade.
Annotations
Textual amendments
- F1
Pt. 6A inserted (with effect in accordance with reg. 1(2) of the amending S.I.) by The Authorised Investment Funds (Tax) (Amendment) Regulations 2010 (S.I. 2010/294), regs. 1(1), 21 (with regs. 25, 26)