Commentary

C1.210 Common investment funds

Capital gains tax
Capital gains tax | Commentary

C1.210 Common investment funds

Capital gains tax | Commentary

C1.210 Common investment funds

Common investment funds are established for investment of funds in court. These funds are established under the Administration of Justice Act 1982, s 42 and administered by an investment manager appointed by the Lord Chancellor. They are a form of unit trust that hold money on behalf of individuals whose money is under the control of certain courts in England and Wales (eg children who are victims of road traffic accidents). They are also known as 'court investment funds'.1.

The gains of a common investment fund accruing on disposals are not chargeable gains; they are exempt gains2.

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