Taxation of Chargeable Gains Act 1992 Schedule 5AAA paragraph 43

Reporting by collective investment vehicles

Paragraph 43 allows the Treasury to make regulations enabling managers of collective investment vehicles to report to HMRC on behalf of participants whose unit disposals would constitute indirect disposals of UK land.

• The Treasury may create regulations allowing fund managers to elect to report information to HMRC about participants whose units, if disposed of, would amount to an indirect disposal of UK land.
• Where a fund manager provides information under these regulations, this can count as satisfying the participant's own reporting obligations to HMRC.
• The reporting relief can also extend to obligations of persons other than the participant, where specified.
• The regulations can be tailored to apply to particular types of obligations as described within the regulations themselves.