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HMRC internal manual

Capital Gains Manual

HM Revenue & Customs
, see all updates

Unit and investment trusts: unit trust schemes treated as companies

For the purposes of chargeable gains TCGA92/S99 (1) provides that

  • any unit trust scheme is deemed to be a company


  • the rights of the unit holders are deemed to be shares in the company and, for authorised unit trusts, the company is deemed to be resident in the UK.