The following Tax practice note Produced in partnership with Camilla Spielman provides comprehensive and up to date legal information covering:
This Practice Note looks at the rules that apply to the taxation of authorised investment funds (AIFs), which is the collective term used for certain authorised and regulated funds which take the form of either open-ended investment companies (OEICs) or authorised unit trusts (AUTs). This Practice Note does not consider the taxation of authorised contractual schemes (ACSs).
For the tax treatment of investors in an AIF (as opposed to the taxation of the fund itself), see Practice Notes:
AIFs—taxation of corporate participants, and
AIFs—taxation of individual participants
For the types of funds that meet the definition of an AIF and an overview of the relevant regulatory framework, see Practice Note: Authorised investment funds (AIFs)—what are they?
For the taxation of Property AIFs (PAIFs), a special category of AIFs, see Practice Note: PAIFs—taxation of the scheme. For the rules applying to another special category of AIFs, known as tax elected funds (TEFs), see Practice Note: AIFs—tax elected funds.
Most of the tax rules applicable to AIFs are contained in the Authorised Investment Funds (Tax) Regulations 2006, SI 2006/964 (AIF (Tax) Regs). In addition, some key rules are contained in the Corporation Tax Act 2010 (CTA 2010) and the Taxation of Chargeable Gains Act 1992 (TCGA 1992).
The term ‘authorised investment funds’ (AIFs) is used in the tax legislation to refer collectively to both
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and thousands of others like it, sign-in to LexisPSL or register for a free trial.
Existing user? Sign-in
Take a free trial
Unlike many other countries, the UK has no unfair competition law. Brand owners seeking to prevent competitors from marketing ‘copycat’ products or using misleading advertising have to rely on a combination of different intellectual property rights. These rights include the common law right to
Criminal offences are generally divided into two categories: •conduct crimes, and •result crimesA conduct crime is a crime where only the forbidden conduct needs to be proved. For example, an accused is guilty of dangerous driving if they drove a motor vehicle dangerously on a road or other public
Millett LJ subdivided types of constructive trust into two categories, distinguishing between:•the constructive trust proper, where equity intervenes to prevent the legal owner from unconscionably denying the beneficial interest of another (known as the institutional constructive trust)•the
Having established that a duty of care exists (see Practice Note: Negligence—when does a duty of care arise?), it is then necessary to consider whether or not there has been a breach of that duty. This will depend on a number of factors outlined below and considered against the general background of
0330 161 1234
To view our latest legal guidance content,sign-in to Lexis®PSL or register for a free trial.