{
  "url": "https://openlegislation.uk/draft-authorised-investment-funds-tax-regulations-2006/regulation-57",
  "json_url": "https://openlegislation.uk/draft-authorised-investment-funds-tax-regulations-2006/regulation-57.json",
  "legislation": "ukdsi/2006/0110740300",
  "legislation_title": "The Authorised Investment Funds (Tax) Regulations 2006",
  "legislation_url": "https://openlegislation.uk/draft-authorised-investment-funds-tax-regulations-2006",
  "path": "regulation/57",
  "kind": "regulation",
  "number": "57",
  "heading": "How tax is charged under this Chapter: income tax",
  "text": "(1) This regulation applies in the case of a participant chargeable to income tax.\n(2) The following amounts must be calculated—\n(a) the difference in value calculated by reference to each chargeable measuring date falling within a tax year; and\n(b) the aggregate amount of those differences in value.\n(3) If the aggregate amount is a positive amount, the participant is charged to income tax under Chapter 8 of Part 5 of ITTOIA 2005 (income not otherwise charged) on that aggregate amount for that tax year.\n(4) If the aggregate amount is a negative amount, the participant is treated as if—\n(a) a loss of that aggregate amount had been sustained by the participant in a transaction, and\n(b) this regulation were listed in Part 3 of the Table in section 836B of ICTA.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "Section 836B was inserted by paragraph 340 of Schedule 1 to the Income Tax (Trading and Other Income) Act 2005 (c. 5)."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukdsi/2006/0110740300/regulation/57",
    "retrieved_at": "2026-10-30T15:21:25.506036+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."
}