# The Investment Trust (Approved Company) (Tax) Regulations 2011, Regulation 19: The income distribution requirement


(1) An investment trust must not retain in respect of an accounting period an amount which is greater than 15% of its income for the accounting period.
(2) The investment trust must distribute as a dividend the amount required to comply with paragraph (1) before the filing date for the investment trust’s company tax return for the accounting period.
(3) Where the investment trust company’s tax return has been amended as a result of a notice served under paragraph 15(4) or 34 of Schedule 18 to the Finance Act 1998, any further distribution that is required by virtue of the amendment must be made before the end of the period of 180 days beginning with the date of the amendment.
(4) In this regulation and regulation 23, “filing date” has the meaning given in paragraph 14 of Schedule 18 to the Finance Act 1998.
(5) This regulation is subject to regulations 21 and 22.

---
Source: https://www.legislation.gov.uk/ukdsi/2011/9780111516683/regulation/19 (the official version)
Page: https://openlegislation.uk/draft-investment-trust-approved-company-tax-regulations-2011/regulation-19
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.