# The Authorised Investment Funds (Tax) Regulations 2006, Regulation 85R: Trading stock etc.


(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.

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Source: https://www.legislation.gov.uk/uksi/2006/964/regulation/85R (the official version)
Page: https://openlegislation.uk/authorised-investment-funds-tax-regulations-2006/regulation-85R
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.