The Unauthorised Unit Trusts (Tax) Regulations 2013
These Regulations make provision about the treatment of the trustees or unit holders of unauthorised unit trusts for the purposes of income tax, corporation tax and capital gains tax. They are made in exercise of the powers conferred by section 217 of the Finance Act 2013. They set out the requirements for an unauthorised unit trust to be approved as an exempt unauthorised unit trust; and make provision for the taxation of gains and income of exempt and non-exempt unauthorised unit trusts as well as the tax treatment of the unit holders and trustees of those trusts. These Regulations make provision for the treatment of certain types of investment or disposal made by exempt unauthorised unit trusts. They include provisions for consequential amendments to various enactments relating to the treatment of unauthorised unit trusts. These Regulations also contain transitional provisions.