Section HM 46 — Income Tax Act 2007: Calculation process

HM 46 Calculation process To calculate its tax liability, a multi-rate PIE must— (a) determine the net amount for each investor class of the PIE: (b) determine the taxable amount for each investor class of the PIE: (c) calculate its tax liability for each investor in an investor class for each day of an attribution period. Defined in this Act: amount , attribution period , investor , investor class , multi-rate PIE , PIE Compare: 2007 No 97 ss HL 19, HL 20 Section HM 46: inserted, on 1 April 2010 (applying for the 2010–11 and later income years), by section 292(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).