Regulation 32 Treatment of transactions carried out by investment trusts
United Kingdom
(1)
This regulation applies if an investment trust carries out an investment transaction in an accounting period.
(2)
The investment transaction is treated as a transaction entered into otherwise than in the course of a trade for the purposes of the Corporation Tax Acts.
F1(3)
For the purposes of this Part an “investment transaction” is an investment transaction specified by regulation 2 of the Investment Transactions (Tax) Regulations 2014.
Annotations
Textual amendments
- F1
Reg. 32(3) inserted (with effect in accordance with reg. 1(2) of the amending S.I.) by The Investment Transactions (Tax) Regulations 2014 (S.I. 2014/685), regs. 1(1), 9(2)