Market leading insight for tax experts
View online issue

Investment trust companies: four-week consultation

printer Mail

HMRC published draft regulations last week to provide a further exception to the income distribution requirement for investment trust companies at regulations 19 and 21 of the Investment Trust (Approved Company) (Tax) Regulations (SI 2011/2999).

“The exception will apply in certain circumstances where an investment trust company has accumulated realised revenue losses in excess of its income for an accounting period, such that a requirement to make a distribution would result in a distribution from capital,” HMRC said.

Comments are invited by 28 May.