Regulation 20 Calculation of income
United Kingdom
(1)
Paragraphs (2) and (3) apply for the purposes of F1regulation 19(1)(a) in determining the income of the investment trust for an accounting period.
(2)
The amounts to be brought into account under Part 5 of CTA 2009 in respect of the investment trust's loan relationships are to be determined without reference to any debtor relationships of the investment trust.
(3)
Income treated as arising under regulation 18(1) (the charge to tax: further provisions) of the Offshore Funds Regulations is to be ignored.
Annotations
Textual amendments
- F1
Words in reg. 20(1) substituted (with effect in accordance with reg. 1(2) of the amending S.I.) by The Investment Trust (Approved Company) (Tax) (Amendment) Regulations 2013 (S.I. 2013/1406), regs. 1(2), 2(3)