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HMRC internal manual

Capital Gains Manual

Trusts: definition: investment trusts

An investment trust is a non-close company which fulfils certain requirements, mainlyconcerned with how its funds are invested. If it meets these requirements, it is exemptfrom Corporation Tax on its chargeable gains. The taxation of investment trusts is dealtwith in CG41400+.

Shareholders in investment trusts are taxed in the same way as shareholders in any othercompany.