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HMRC internal manual

Investment Funds Manual

Requirement to notify

Regulation 24 requires an investment trust to notify HMRC if it has breached any of the eligibility conditions or ongoing requirements set out in the regulations (see IFM14410 onwards).

It should notify HMRC as soon as it becomes aware of the breach, and must specify the steps it has taken, or which are to be taken, to correct the breach.

If the company is unsure whether a breach has occurred then it should seek advice from its own advisers or HMRC.