Commentary

D7.549 Gains from VCIPs—miscellaneous issues

Corporate tax
Corporate tax | Commentary

D7.549 Gains from VCIPs—miscellaneous issues

Corporate tax | Commentary

D7.549 Gains from VCIPs—miscellaneous issues

The rules in this division apply for accounting periods beginning before 1 January 2013. For accounting periods beginning on or after 1 January 2013 see Division D7.4.

An investment in an overseas VCIP is not treated as a material interest in an offshore fund and any disposal proceeds resulting from a distribution from such a VCIP are reduced by the amount of any offshore gain accruing to the company thus preventing double taxation1.

The investment that is the single deemed asset may not be subject to a negligible value claim under TCGA

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