{
  "url": "https://openlegislation.uk/offshore-funds-tax-regulations-2009/regulation-129",
  "json_url": "https://openlegislation.uk/offshore-funds-tax-regulations-2009/regulation-129.json",
  "legislation": "uksi/2009/3001",
  "legislation_title": "The Offshore Funds (Tax) Regulations 2009",
  "legislation_url": "https://openlegislation.uk/offshore-funds-tax-regulations-2009",
  "path": "regulation/129",
  "kind": "regulation",
  "number": "129",
  "heading": "Amendment of ITA 2007",
  "text": "(1) ITA 2007 is amended as follows.\n(2) In section 152(8) (losses from miscellaneous transactions) for “section 761(1)(b)(i) of ICTA” substitute “ regulation 17 of the Offshore Funds (Tax) Regulations 2009 (S.I. 2009/3001) ”.\n(3) In section 482 (types of amount to be charged at special rates for trustees), in the description of “Type 3”, for “section 761(1) of ICTA (offshore income gains)” substitute “ regulation 17 of the Offshore Funds (Tax) Regulations 2009 (S.I. 2009/3001) ”.\n(4) In section 535 (exemption for offshore income gains)—\n(a) in subsection (3) for “Chapter 5 of Part 17 of ICTA (offshore funds) (see section 758 of, and Schedule 28 to, that Act)” substitute “ Chapter 5 of Part 2 of the Offshore (Tax) Funds Regulations 2009 (S.I. 2009/3001) ”, and\n(b) in subsection (4) for “section 761(6B) of ICTA” substitute “ regulation 31(3) to (5) of the Offshore Funds (Tax) Regulations 2009 (S.I. 2009/3001) ”.\n(5) In section 734(5) (reduction in amount charged: previous capital gains tax charge) for “section 762 of ICTA” substitute “ regulations 20 and 22 to 24 of the Offshore Funds (Tax) Regulations 2009 (S.I. 2009/3001) ”.\n(6) In section 1016(2) (table of provisions to which this section applies), in Part 3 of the Table—\n(a) omit the entry relating to section 761(1)(b)(i) of ICTA, and\n(b) at the end insert—\n“\nRegulation 17 of the Offshore Funds (Tax) Regulations 2009 (S.I. 2009/3001)\nOffshore income gains\n”",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "M",
      "label": "M1",
      "text": "Section 152(8) was amended by section 57(5) of the Finance Act 2007 (c. 11)."
    },
    {
      "type": "M",
      "label": "M2",
      "text": "Section 734(5) was inserted by paragraph 97 of Schedule 7 to the Finance Act 2008 (c. 9)."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2009/3001/regulation/129",
    "retrieved_at": "2026-10-29T03:01:48.652414+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}