Income Tax (Trading and Other Income) Act 2005 section 391

Interpretation of sections 389 and 390

Section 391 defines key terms used in sections 389 and 390, which deal with authorised unit trust dividend distributions and the dates on which such dividends are treated as paid.

• An "approved personal pension scheme" carries the same meaning as in the relevant provisions of ICTA (section 630(1)).
• A "distribution" is broadly defined to include not only cash payments but also reinvestment on behalf of a unit holder in respect of accumulation units.
• "Distribution accounts" are the accounts that show how the total amount available for distribution to unit holders has been calculated.
• A "distribution period" is the period by reference to which that distributable amount is determined.