UK Statutory Instrument SI 2011/2999 United Kingdom

The Investment Trust (Approved Company) (Tax) Regulations 2011

Read it on legislation.gov.uk (opens in a new tab)
Status
In Force
Penalty ceiling
Regulated

Does it bind you?

Business-side roles with duties under this instrument.

Any Person3 Director or Officer2 Trader1

Other Acts binding the same actors

If a role above is yours, these are the other instruments that most often bind it.

Any Person — also bound by 2340 other Acts
Director or Officer — also bound by 429 other Acts
Companies Act 2006 126 duties
Trader — also bound by 825 other Acts
Companies Act 2006 243 duties
Companies Act 1985 85 duties

What it requires

Regulations creating concrete business duties or carrying penalties, grouped as the instrument is structured. Titles link to the source text — blue means you’re leaving for legislation.gov.uk.

s.017 Investment trust to comply with requirements of this Chapter Regulated
  • Comply with all Chapter rules each accounting period as an approved investment trustTrader
s.018 Investment trust must not be a close company Regulated
  • Investment trust must not be a close company at any timeAny Person
s.019 The income distribution requirement Regulated
  • Distribute excess income as dividend before tax return filing dateAny Person
s.021 The income distribution requirement: reduction in amount of income permitted to be retained Regulated
  • Pay additional dividend when offshore reporting fund income makes permitted retention negativeDirector or Officer
s.023 Requirement to notify Commissioners of revised investment policy Regulated
  • Notify HMRC of revised investment policy and provide copy before tax return deadlineDirector or Officer
s.024 Requirement to notify Commissioners of breach Regulated
  • Notify HMRC of any breach of investment trust conditionsAny Person
40 other provisions — procedural and definitional
s.001 Citation, commencement and effect
s.002 Structure of these Regulations
s.003 Interpretation
s.004 Interpretation
s.005 Application for approval as an investment trust
s.006 Contents of application
s.007 Contents of application: accounting period not commenced at time of application
s.008 Contents of application: shares not admitted to trading at time of application
s.009 Form, timing and withdrawal of application
s.010 Response by Commissioners to application
s.011 Appeal against rejection of the application
s.012 Effect of acceptance of application
s.013 Acceptance of application conditional on receipt of specified information
s.014 Delay in admission of company's ordinary share capital to trading on a regulated market
s.015 Winding up of company approved as investment trust
s.016 Winding up of company approved as investment trust – further conditions
s.020 Calculation of income
s.022 The income distribution requirement: exceptions
s.025 Types of breach
s.026 Serious breach
s.027 Multiple breaches
s.028 Breach of the income distribution requirement
s.029 Consequences of serious breaches
s.030 Breach of the eligibility conditions
s.031 Company tax return submitted on basis that company is not an investment trust
s.032 Treatment of transactions carried out by investment trusts
s.033 Meaning of “investment transaction”
s.034 Meaning of “relevant contract”
s.035 Meaning of “relevant contract”: options
s.036 Meaning of “relevant contract”: futures
s.037 Options and futures: further provisions
s.038 Meaning of “relevant contract”: contracts for difference
s.039 Interpretation of regulation 33(c)
s.040 Meaning of “units in a collective investment scheme”
s.041 Meaning of “transaction in a carbon emission trading product”
s.042 Interests in offshore non-reporting funds: general
s.043 Treatment of disposal of interest in non-reporting fund
s.044 Treatment of interest in non-reporting fund: cases where conditions in regulation 42(2) would not be satisfied
s.045 Index tracking funds
s.046 Consequential amendment

Duty extraction and severity labels are Guvnor’s analysis of the instrument, not the instrument itself. Always verify against the linked source text.