Section CX 57 — Income Tax Act 2007: Credits for investment fees

CX 57 Credits for investment fees When this section applies (1) This section applies when— (a) a multi-rate PIE includes a credit for fees in the calculation of its tax liability under section HM 47 (Calculation of tax liability or tax credit of multi-rate PIEs) in relation to an investor in an investor class of the PIE; and (b) an amount of the credit is attributed to the investor as a member of the class. Excluded income (2) The amount allocated is excluded income of the investor. Defined in this Act: amount , excluded income , investor , investor class , multi-rate PIE , PIE Section CX 57: substituted, on 1 April 2010 (applying for the 2010–11 and later income years), by section 66(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).