# Income Tax (Trading and Other Income) Act 2005, Section 376: Authorised unit trust interest distributions

Extent: E+W+S+N.I.

(1) This section applies if the distribution accounts of an authorised unit trust show the total amount available for distribution to unit holders as available for distribution as yearly interest.
(2) Subsection (1) is subject to subsection (7) .
(3) For income tax purposes payments of yearly interest are treated as made to the unit holders.
(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(5) The amount of the payment treated as made to each unit holder is so much of the total amount mentioned in subsection (1) as is proportionate to the unit holder's rights.
(6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(7) This section does not apply if the authorised unit trust is an approved personal pension scheme.
(8) See section 378 for the interpretation of this section and section 377.

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Source: https://www.legislation.gov.uk/ukpga/2005/5/section/376 (the official version)
Page: https://openlegislation.uk/income-tax-trading-and-other-income-act-2005/section-376
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.