Section 504A Treatment of capital expenditure of unauthorised unit trust
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Amendments
Section 504A inserted by S.I. 2009/23 article 5(2) for 2007-08 and later tax years.
(1) This section applies for income tax purposes in relation to an unauthorised unit trust if the trustees are UK resident.
(2) The trustees (and not the unit holders) are treated as the persons to or on whom an allowance or charge is to be made under any provision relating to relief for capital expenditure.
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