Unit and investment trusts: authorised investment funds
An authorised unit trust is a type of authorised investment fund (AIF), as defined bySI2006/964. Other examples of AIFs are open-ended investment companies (OEICs). All AIFsare taxed in the same way. This guidance deals with the liability of the AIFs themselvesto tax on their capital gains. For more information on AIFs in general, see CTM48000onwards. For more information on the other tax rules which apply to all AIF schemes seeCTM48200 on-wards.
For information on the liability of participants (investors) in AIFs to tax on Capitalgains 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 forparticipants within the charge to CT (generally companies) and CTM48550 onwards forparticipants within the charge to IT (generally individuals and trustees).