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HMRC internal manual

Savings and Investment Manual

Dividends and other company distributions: distributions from OEICs and AUTs

Dividend distributions by open-ended investment companies and authorised unit trustsOwners of shares in open-ended investment companies (OEICs) and unit holders in authorised unit trusts (AUTs) are taxed on the basis that amounts available for distribution in the accounts of OEICs and AUTs are dividends. The amounts so treated are within the charge at ITTOIA05/S383 and the provisions about tax credits or tax being treated as paid at ITTOIA05/S397 to S399 will apply as appropriate.

ITTOIA05/S386 to S388 applies to investors in OEICs and ITTOIA05/S389 to 391 applies to AUTs.

See CTM48000 (SAIM20000) for the taxation of OEICs and AUTs, and see SAIM6000 for more details on the taxation of investors in collective investment scheme.