Commentary

D8.115 Income allocation

Corporate tax
Corporate tax | Commentary

D8.115 Income allocation

Corporate tax | Commentary

D8.115 Income allocation

The total amount available for income allocation must be shown as available for distribution to the participants either as yearly interest (see D8.116) or as dividends (see D8.117)1. (Note this requirement is specifically excluded in relation to property authorised investment funds (D8.130) or tax elected funds (D8.140)2).

Prior to 26 March 2015, it was provided that the amounts shown as available for distribution as yearly interest must not include amounts chargeable to corporation tax as either UK or overseas property trading income3 or amounts charged as income treated as received by a unit holder in a distribution period

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