Taxation of Chargeable Gains Act 1992 section 100

Exemption for authorised unit trusts etc

Section 100 provides an exemption from capital gains tax for gains arising within certain types of collective investment vehicles and court-managed funds.

• Gains accruing to authorised unit trusts, investment trusts, venture capital trusts and court investment funds are not chargeable gains
• Disposals of units in unauthorised unit trusts by exempt holders are also exempt from capital gains tax
• Units held by scheme managers pending disposal, and gains on disposals by insurance companies or friendly societies, are disregarded
• A court investment fund is defined as one established under section 42 of the Administration of Justice Act 1982