{
  "url": "https://openlegislation.uk/investment-trusts-dividends-optional-treatment-as-interest-distributions-regulations-2009",
  "json_url": "https://openlegislation.uk/investment-trusts-dividends-optional-treatment-as-interest-distributions-regulations-2009.json",
  "id": "uksi/2009/2034",
  "title": "The Investment Trusts (Dividends) (Optional Treatment as Interest Distributions) Regulations 2009",
  "short_title": "Investment Trusts (Dividends) (Optional Treatment as Interest Distributions) 2009",
  "long_title": "Section 45 of the Finance Act 2009 confers powers to make provision about the tax treatment of the dividends of investment trusts (or prospective investment trusts). Investment trusts are collective investment vehicles constituted as companies and which pool investments with a view to spreading investment risk for their investors. Companies are investment trusts for tax purposes if approved as such by the Commissioners for Her Majesty’s Revenue and Customs (“the Commissioners”) in accordance with section 842 of the Income and Corporation Taxes Act 1988 (“ICTA”). The investment return to investors in such companies takes the form of dividends. These Regulations enable an investment trust or prospective investment trust (i.e. a company that expects to be approved as an investment trust) to treat its dividends as payments of interest rather than as dividends on shares for tax purposes.",
  "citation": "S.I. 2009/2034",
  "type": "uksi",
  "year": "2009",
  "number": "2034",
  "version": "current",
  "date": "2009-07-21",
  "revised": false,
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  "extent": null,
  "unapplied_effects": 15,
  "provisions": [
    {
      "path": "introduction",
      "kind": "introduction",
      "number": null,
      "heading": "Introductory text",
      "url": "https://openlegislation.uk/investment-trusts-dividends-optional-treatment-as-interest-distributions-regulations-2009/introduction",
      "extent": null,
      "status": null,
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    },
    {
      "path": "part/1",
      "kind": "part",
      "number": "1",
      "heading": "PRELIMINARY PROVISIONS",
      "url": null,
      "extent": null,
      "status": null,
      "parent": null
    },
    {
      "path": "regulation/1",
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      "number": "1",
      "heading": "Citation, commencement and effect",
      "url": "https://openlegislation.uk/investment-trusts-dividends-optional-treatment-as-interest-distributions-regulations-2009/regulation-1",
      "extent": null,
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      "heading": "Structure of these Regulations",
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      "extent": null,
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      "parent": "part/1"
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    {
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      "heading": "Interpretation",
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      "extent": null,
      "status": null,
      "parent": "part/1"
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    {
      "path": "part/2",
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      "number": "2",
      "heading": "OPTIONAL TREATMENT OF DIVIDENDS AS INTEREST DISTRIBUTIONS",
      "url": null,
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    },
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      "path": "regulation/4",
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      "heading": "Circumstances in which dividends may be treated as interest distributions",
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      "extent": null,
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      "path": "regulation/5",
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      "heading": "Treatment of dividends as interest distributions",
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      "extent": null,
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      "path": "regulation/6",
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      "heading": "Notification of designation of dividends as interest distributions",
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      "extent": null,
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      "path": "regulation/7",
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      "heading": "Interest distributions not to be treated as distributions for purposes of the Tax Acts",
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      "extent": null,
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      "path": "regulation/8",
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      "heading": "Qualifying interest income",
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      "path": "regulation/9",
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      "heading": "Qualifying interest income: further provisions",
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      "heading": "Interest distributions: effect for investment trust or prospective investment trust",
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      "path": "regulation/11",
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      "heading": "Interest distributions: effect for recipients",
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      "extent": null,
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    {
      "path": "regulation/12",
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      "heading": "Failure to obtain approval as an investment trust",
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    {
      "path": "part/3",
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      "number": "3",
      "heading": "DUTY TO DEDUCT TAX FROM INTEREST DISTRIBUTIONS",
      "url": null,
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    {
      "path": "part/3/crossheading/duty-to-deduct-tax-interest-distributions",
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      "number": null,
      "heading": "Duty to deduct tax interest distributions",
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    },
    {
      "path": "regulation/13",
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      "number": "13",
      "heading": "Duty to deduct tax from interest distributions: general",
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    },
    {
      "path": "part/3/crossheading/the-reputable-intermediary-condition",
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      "number": null,
      "heading": "The reputable intermediary condition",
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      "path": "regulation/15",
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      "number": "15",
      "heading": "The reputable intermediary condition: further provisions",
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      "path": "regulation/16",
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      "heading": "The reputable intermediary condition: consequences of reasonable but incorrect belief",
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      "extent": null,
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    },
    {
      "path": "part/3/crossheading/the-residence-condition",
      "kind": "crossheading",
      "number": null,
      "heading": "The residence condition",
      "url": null,
      "extent": null,
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      "parent": "part/3"
    },
    {
      "path": "regulation/17",
      "kind": "regulation",
      "number": "17",
      "heading": "The residence condition",
      "url": "https://openlegislation.uk/investment-trusts-dividends-optional-treatment-as-interest-distributions-regulations-2009/regulation-17",
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    {
      "path": "regulation/18",
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      "number": "18",
      "heading": "The residence condition: declarations",
      "url": "https://openlegislation.uk/investment-trusts-dividends-optional-treatment-as-interest-distributions-regulations-2009/regulation-18",
      "extent": null,
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      "parent": "part/3/crossheading/the-residence-condition"
    },
    {
      "path": "regulation/19",
      "kind": "regulation",
      "number": "19",
      "heading": "References to beneficiaries in regulations 17 and 18",
      "url": "https://openlegislation.uk/investment-trusts-dividends-optional-treatment-as-interest-distributions-regulations-2009/regulation-19",
      "extent": null,
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      "parent": "part/3/crossheading/the-residence-condition"
    },
    {
      "path": "regulation/20",
      "kind": "regulation",
      "number": "20",
      "heading": "Interest distributions: declarations and position of investment trust or prospective investment trust",
      "url": "https://openlegislation.uk/investment-trusts-dividends-optional-treatment-as-interest-distributions-regulations-2009/regulation-20",
      "extent": null,
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    },
    {
      "path": "part/4",
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      "number": "4",
      "heading": "INFORMATION AND RECORD KEEPING RELATING TO DISTRIBUTIONS",
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      "heading": "Duty to keep and preserve records",
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  "licence": "Open Government Licence v3.0",
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