CG41302 - Unit and investment trusts: authorised investment funds

An authorised unit trust is a type of authorised investment fund (AIF), as defined by SI2006/964. Other examples of AIFs are open-ended investment companies (OEICs). All AIFs are taxed in the same way. This guidance deals with the liability of the AIFs themselves to tax on their capital gains. For more information on AIFs in general, see CTM48000 onwards. For more information on the other tax rules which apply to all AIF schemes see CTM48200 on-wards.

For information on the liability of participants (investors) in AIFs to tax on Capital gains see:

CG57680 onwards for investors in authorised unit trusts, or

CG57750 onwards for investors in open-ended investment companies.

For information on the tax position of participants generally see CTM48500 onwards for participants within the charge to CT (generally companies) and CTM48550 onwards for participants within the charge to IT (generally individuals and trustees).