Commentary

D8.104 Unit trust managers

Corporate tax
Corporate tax | Commentary

D8.104 Unit trust managers

Corporate tax | Commentary

D8.104 Unit trust managers

A unit trust manager buys and sells units from and to members of the public and so carries on a trade of dealing in securities. The manager may receive a distribution in respect of a unit which he has bought from an investor if he does not sell the unit until after the distribution has been made. The amount of the distribution he receives in respect of the unit is treated as a receipt of the dealing trade and not as a dividend1.

From 6 April 2015, legislation was introduced to ensure that management fees arising to

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