Commentary

B5.721 Disposal of interests

Business tax
Business tax | Commentary

B5.721 Disposal of interests

Business tax | Commentary

B5.721 Disposal of interests

A participant's disposal of their interest in a reporting fund is a disposal for capital gains tax purposes1, and an amount equal to the accumulated undistributed income2 is treated as consideration given for acquisition3, but from 27 May 2011, excluding an equalisation amount used to reduce the amount of actual distributions (see B5.720)4. The expenditure is treated as incurred on the fund distribution date for the reporting period in which each amount is treated as distributed5, except where an amount chargeable to income tax is received or treated as received after the date of disposal, in

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