Income Tax (Trading and Other Income) Act 2005 section 378

Interpretation of sections 376 and 377

Section 378 defines key terms used in sections 376 and 377, which deal with interest distributions from authorised unit trusts and the dates on which such payments are treated as made.

• An "approved personal pension scheme" carries the same meaning as defined in the Income and Corporation Taxes Act 1988
• A "distribution" includes reinvestment on behalf of a unit holder in respect of their accumulation units, not just cash payments
• "Distribution accounts" are the accounts that show how the total amount available for distribution to unit holders is calculated
• "Distribution period" is the period by reference to which that distributable amount is determined