{
  "url": "https://openlegislation.uk/co-ownership-contractual-schemes-tax-regulations-2025/regulation-34",
  "json_url": "https://openlegislation.uk/co-ownership-contractual-schemes-tax-regulations-2025/regulation-34.json",
  "legislation": "uksi/2025/200",
  "legislation_title": "The Co-ownership Contractual Schemes (Tax) Regulations 2025",
  "legislation_url": "https://openlegislation.uk/co-ownership-contractual-schemes-tax-regulations-2025",
  "path": "regulation/34",
  "kind": "regulation",
  "number": "34",
  "heading": "Preparation of accounts",
  "text": "The accounts of a RIF for an accounting period must be—\n(a) prepared in accordance with the Investment Association’s Statement of Recommended Practice for the Financial Statements of Authorised Funds published in May 2014, as amended from time to time (or any successor statement of recommended practice), or its principles so far as they relate to determining revenue and capital, and\n(b) audited as being so prepared by a person who—\n(i) is eligible for appointment as a statutory auditor under Part 42 of the Companies Act 2006 (statutory auditors), and\n(ii) if appointed as a statutory auditor, would not be prohibited from acting by section 1214 of that Act (independence requirement).",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "Available at https://www.theia.org/industry-policy/guidelines/statement-recommended-practice-sorp. A person unable to access the documents electronically may access them by inspection free of charge at HMRC, 100 Parliament Street, London SW1A 2BQ."
    },
    {
      "type": "footnote",
      "label": "f2",
      "text": "2006 c. 46."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2025/200/regulation/34",
    "retrieved_at": "2026-10-28T21:20:08.412857+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}