Section HM 62 — Income Tax Act 2007: Exit levels for investors

HM 62 Exit levels for investors An investor in a multi-rate PIE is treated as reaching the exit level when the PIE’s tax liability for the investor is equal to, or more than, the value of the investor interest of the investor in the PIE at the end of the exit period (the exit level ). Defined in this Act: exit level , investor , investor interest , multi-rate PIE , PIE Section HM 62: 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). Section HM 62: amended (with effect on 1 April 2010) on 21 December 2010 (applying for the 2010–11 and later income years), by section 101(1) of the Taxation (GST and Remedial Matters) Act 2010 (2010 No 130).