Accounts, preparation of

Annual payments to non-residents

Authorised investment funds investing in non-reporting offshore funds

Breaches of requirements

Constant NAV funds

Differences between reported income and reportable income


Information not provided

Leaving the regime

Report that is incorrect or incomplete

Serious breaches

Capital gains tax



Wholly-owned subsidiaries dealing in commodities

Change of accounting policy

Charitable trusts, exemption for income gains

Civil proceedings for recovery of property


Collective investment schemes

Co-ownership schemes

Exchanges, mergers and reconstructions

Transfer of assets

Commencement of new regime


Subsidiaries dealing in

Computation of reportable income

Adjustments to be made

Capital items

Effective interest income or comparable amounts

Equalisation arrangements


Non-reporting funds

Other reporting funds

Starting point

Transparent reporting funds

Wholly-owned subsidiaries

Conditions for distributor status

Consequential amendments

Constant net asset value funds

Controlled foreign companies

Corporation tax

Defined expressions

Derivative contracts


Charge to tax

Computation of offshore income gains

Conversion of non-reporting funds

Exceptions to charge

Interaction with capital gains


Non-resident companies

Distributing funds

Equalisation arrangements

Requirements as to distributions

Transitional provisions

Umbrella funds

Distributor status

Equalisation arrangements

Equalisation element, disposals involving

Full distribution policy

General duties


Preparation of accounts

Gifts to charity

Guaranteed return fund, meaning

Holdings treated as creditor relationship rights

Disregard of investments and liabilities where tax avoidance motive


Opening valuations

Inheritance tax

Interest in an offshore fund, meaning

Investment transactions

Carbon emission trading products

Collective investment schemes


Information, HMRC's powers

Loan relationships


Reporting period

Reports to participants

Summary computation of reportable income

Investment trust having interest in non-reporting funds

Investment trusts with interests in non-reporting funds

Investors participating in, tax treatment

Acquisition cost

Capital gains tax


Elections modifying commencement

Leaving the regime

Loan relationships

Market value, meaning

Material interests

Material interests in non-qualifying offshore funds

Equalisation arrangements


More than one class of interest

Mutual fund, meaning

New classes of interest within existing main funds

New funds within existing umbrella funds

Non-residents, annual payments to

Non-trading transactions

Clearance procedure

Equivalence condition


Genuine diversity of ownership condition

Offshore income gain

Children of settlor

Investment trusts

Settlor's income

Old regime


Participant, meaning

Participants in non-reporting funds

Authorised investment funds investing in non-reporting offshore funds

Chargeable gains

Chargeable gains, deduction of offshore income gains

Charges to tax

Charitable companies and charitable trusts, exception from charge

Conversion of non-reporting fund into reporting fund

Death, disposal of interests

Disposal of assets, charge to tax on

Disposal of interests in non-reporting funds

Distributions, charge to tax on amounts treated as

Exceptions from charge to tax

Exchange of interests of different classes

Exchange of units for those in another collective investment scheme


Income and distributions, transparent/non-transparent funds

Interests in transparent funds, exceptions from charge

Loans other than participating loans, exception from charge

Long-term insurance funds of insurance companies, exception from charge

Material disposal, meaning

Non-resident settlements, gains of

Offshore income gains

Reconstructions involving issue of units/issue of securities

Remittance basis

Rights in certain existing holdings, exception from charge

Trading stock, exception from charge

Transfer of assets abroad

Unlisted trading company exception

Participants in reporting funds

Anti-avoidance provisions, financial traders

Charge to tax

Charitable companies and charitable trusts

Corporation tax charge

Deemed disposals of interests

Disposals of interests

Disposals of interests and deemed disposals of interests

Distributions made by fund

Excess of reported income over distributions made

Financial traders with holdings in diversely owned funds

Financial traders, anti-avoidance provisions


Income tax charge

Reported income, tax treatment

Reports to

Participants in, tax treatment

Arrangements comprising more than one class of interest

Exceptions to meaning of mutual fund

Mutual fund, meaning

Offshore fund, meaning

Participant, meaning

Participation, meaning

Regulations, power to make

Relevant income-producing asset

Umbrella arrangements

Period of account, meaning

Proposed prospectus, meaning

Prospectus, meaning

Qualifying investments test


Hedging relationship

Meaning of qualifying investments

Power to change qualifying investments

Qualifying holdings


Reporting funds

Accounts, preparation of

Annual reporting requirements

Appeals against refusal to amend a statement

Appeals against rejection of application/exclusion from regime

Application to enter regime

Breaches of requirements

Capital items, adjustments for

Carbon emission trading products, transactions in

Clearance procedures, equivalence and genuine diversity of ownership condition

Computation of reportable income

Constant NAV funds

Contracts for differences, transactions in

Conversion of non-reporting fund into

Duties of

Entry into regime

Equalisation arrangemenst, not operating

Equalisation arrangements

Equivalence condition

Existing fund application

Foreign currency, transactions in

Form of application

Future fund application

Futures, transactions in

General duties


Genuine diversity of ownership condition

HMRC's response

Index tracking funds

Information to be provided

Interest in other reporting funds, income from

Interest income or other comparable amounts, adjustments for

Investment transactions carried out by diversely owned funds

Leaving the regime

Loan relationships, transactions in


Non-reporting funds, income from

Not operating equalisation arrangemenst

Options, transactions in

Participants, tax treatment

Participants, treatment of

Reports to participants

Stocks and shares, transactions in

Time limits for making/withdrawing applications

Transactions not treated as trading


Transparent reporting funds

Units in collective investment schemes, transactions in

Wholly-owned subsidiaries, income from

Reports to participants

Contents of

Making a report

Reporting period

Residence, undertakings for collective investment in transferable securities

Tax year, meaning

Transitional provisions and savings

Transparent funds

Adjustment in relation to income from other reporting funds/non-reporting funds



Reportable income

Tribunal, meaning


UK equivalent profits

Creditor relationships

Derivative contracts


Umbrella arrangements

Undertakings for collective investment in transferable securities


UCITS fund, meaning

Unlisted trading company exception