Regulation 5 Amendment of the Investment Trusts (Dividends) (Optional Treatment as Interest Distributions) Regulations 2009

Amend the Investment Trusts (Dividends) (Optional Treatment as Interest Distributions) Regulations 2009^f1 as follows.

In Part 2, after regulation 12 insert—

“Application of corporate interest restriction rules

12A.

For the purposes of Part 10 (Corporate Interest Restriction) of TIOPA 2010, an interest distribution is treated as not being a tax-interest expense amount of the company.”