# The Offshore Funds (Tax) Regulations 2009, Regulation 16: Treatment of certain amounts as distributions

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

(1) This regulation applies if a non-reporting fund which is a transparent fund has an interest in a reporting fund.
(2) In the case of any excess specified in regulation 94(1) or (2) which is treated, under that regulation, as made to the non-reporting fund, the Tax Acts have effect as if the excess were additional income of the participants in the non-reporting fund in proportion to their rights.
(3) The additional income is treated as arising on the same date as the excess is treated as made to the non-reporting fund.
(4) If a participant in the non-reporting fund is chargeable to income tax, the additional income is charged as relevant foreign income within the meaning given by section 830 of ITTOIA 2005 .
(5) If a participant in the non-reporting fund is chargeable to corporation tax, the additional income is charged under Chapter 8 of Part 10 of CTA 2009 (miscellaneous income: income not otherwise charged).

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Source: https://www.legislation.gov.uk/uksi/2009/3001/regulation/16 (the official version)
Page: https://openlegislation.uk/offshore-funds-tax-regulations-2009/regulation-16
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.