# The Offshore Funds (Tax) Regulations 2009, Regulation 25: Exceptions from the charge


(1) No liability to tax arises under regulation 17 if any of conditions A to E is met.
(2) Condition A is that the participant is required to treat the interest in the fund as a loan relationship under Chapter 3 of Part 6 of CTA 2009.
(3) Condition B is that the participant is required to treat the interest in the fund as a derivative contract to which the provisions of Part 7 of CTA 2009 apply.
(4) Condition C is that the asset is an intangible fixed asset to which the provisions of Part 8 of CTA 2009 apply.
(5) Condition D is that the asset consists of excluded indexed securities as defined in section 433 of ITTOIA 2005.
(6) Condition E is that the asset is a right arising under a policy of insurance.

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Source: https://www.legislation.gov.uk/uksi/2009/3001/regulation/25 (the official version)
Page: https://openlegislation.uk/offshore-funds-tax-regulations-2009/regulation-25
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.