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HMRC internal manual

Company Taxation Manual

AIFs: Property authorised investment funds (Property AIFs): deducting and accounting for tax from distributions: certificates of deduction of tax

Certificates of deduction of tax (regulation 69Z34 SI 2006/964)

Where a Property AIF deducts tax from a relevant distribution it must provide allrecipients a written statement showing:

  • the gross amount of the payment,
  • the tax deducted, and
  • the actual (i.e. net) amount paid.

The recipient of the payment is responsible for ensuring that such a statement isprovided to them if required.

Similarly where a Property AIF makes a Property AIF distribution (dividends) it mustprovide a statement as required by regulation 69Z17 of SI 2006/964.

It is good practice to provide all three statements, relating to property incomedistributions, PAIF distributions (interest) and PAIF distributions (dividends), in acombined statement.