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HMRC internal manual

Capital Gains Manual

OEICs: shareholders: tax regime: SI2006/964


The general effect of the tax legislation for OEICs, introduced by SI97/1154 and consolidated by SI2006/964, is to treat OEICs in the same way as authorised unit trusts (AUTs) and shares in OEICs in the same way as units in AUTs. This means that the normal Capital Gains Tax rules which apply to shares in other companies apply to shares in OEICs, subject to a modification to the market value rule in TCGA92/S272 by SI2006/964 regulation 108.