Taxation of Chargeable Gains Act 1992 section 151W

Investment bond arrangements not unit trust scheme or offshore fund

Section 151W clarifies that investment bond arrangements are excluded from being classified as either unit trust schemes or offshore funds for capital gains tax purposes.

• Investment bond arrangements are not treated as unit trust schemes under the Taxation of Chargeable Gains Act 1992.
• Investment bond arrangements are not treated as offshore funds for capital gains tax purposes under TIOPA 2010.
• This exclusion ensures that the specific rules governing unit trust schemes and offshore funds do not apply to investment bond arrangements.
• The practical effect is that gains arising from investment bond arrangements follow their own distinct tax treatment rather than the regimes applicable to unit trusts or offshore funds.