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HMRC internal manual

Capital Gains Manual

Unit and investment trusts: authorised unit trusts

Gains which accrue to an authorised unit trust after 31 March 1980 are not chargeablegains. (Prior to 1 April 1980 all authorised unit trusts were within the charge toCorporation Tax and chargeable gains arising were subject to the special rules inICTA70/S355. For the treatment of capital gains accruing to investors see CG57680+).