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Link to original content: http://www.legislation.gov.uk/uksi/2006/964/regulation/69Z19/2009-01-01
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There are currently no known outstanding effects for the The Authorised Investment Funds (Tax) Regulations 2006, Section 69Z19.
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69Z19.—[F2(1) A PAIF distribution (interest) received by a participant in an open-ended investment company to which this Part applies shall be treated—
(a)in the case of a participant within the charge to corporation tax, as if it were interest arising from a loan relationship; and
(b)in the case of a participant within the charge to income tax, as if it were a payment of yearly interest falling within Chapter 2 of Part 4 of ITTOIA 2005.]
(2) Sections 231 of ICTA and 397 of ITTOIA 2005 (tax credits in respect of qualifying distributions) shall not apply to PAIF distributions (interest).]
Textual Amendments
F1Pt. 4A inserted (6.4.2008) by The Authorised Investment Funds (Tax) (Amendment) Regulations 2008 (S.I. 2008/705), regs. 1, 5
F2Reg. 69Z19(1) substituted (1.1.2009) by The Authorised Investment Funds (Tax) (Amendment No. 3) Regulations 2008 (S.I. 2008/3159), regs. 1(1), 24
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