Regulation 62 Amendment of The Co-ownership Authorised Contractual Schemes (Tax) Regulations 2017

The Co-ownership Authorised Contractual Schemes (Tax) Regulations 2017^f1 are amended as follows—

(a)

in regulation 2 (interpretation), after the definition of “HMRC” insert—

““Reserved Investor Fund (Contractual Scheme)” has the meaning given by section 20 of the Finance (No.2) Act 2024.”;

(b)

in regulation 3 (interpretation: Part 2)—

(i)

after “to a CoACS” insert “or a Reserved Investor Fund (Contractual Scheme)”;

(ii)

after “of the CoACS” insert “or the Reserved Investor Fund (Contractual Scheme)”;

(c)

in the heading to regulation 5, at the end insert “or Reserved Investor Fund (Contractual Scheme)”;

(d)

in regulation 5 (information to be provided to other CoACS), in paragraph (1), after “made for the purposes of a CoACS” insert “or Reserved Investor Fund (Contractual Scheme)”;

(e)

in regulation 8 (penalty for failing to provide information)—

(i)

in paragraph (1), for “£60 for each offence” substitute “£100 for each offence”;

(ii)

in paragraph (2), for “£600” substitute “£1000”.

Annotations

Footnotes

f1: S.I. 2017/1209.