Income Tax Act 2007 section 432

Meaning of "qualifying investment"

Section 432 defines what counts as a "qualifying investment" for the purposes of the tax relief provisions in this chapter.

  • A qualifying investment includes shares or securities listed on a recognised stock exchange, or dealt in on a UK market designated by HMRC
  • Units in authorised unit trusts, shares in open-ended investment companies, and interests in offshore funds all qualify
  • A qualifying interest in land is also included within the definition
  • HMRC has the power to designate markets by name or by class, and to vary or revoke such designations by order

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