Commentary

E1.407 Open-ended investment company interest distributions

Personal and employment tax

E1.407 Open-ended investment company interest distributions

E1.407 Open-ended investment company interest distributions

For the purpose of the charge to tax on savings and investment income, an 'open-ended investment company' (OEIC) is a company incorporated in the UK to which Financial Services and Markets Act 2000 (FISMA 2000), s 236 applies1. FISMA 2000, s 236 describes an OEIC as a collective investment scheme under which the investments belong beneficially to, and are managed on behalf of, a body corporate having as its purpose the spreading of investment risk and giving its members the benefit of the results of management of those funds. An OEIC is a type

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