The Authorised Investment Funds (Tax) (Amendment No. 3) Regulations, SI 2012/3043, correct an ‘inadvertent effect’ of a change to SI 2006/964 following the tax law rewrite process. They restore the previously intended tax treatment of dividend distributions made by AIFs and received by life insurance companies as part of certain long term insurance business where returns are normally taxed (if applicable) only in the hands of the policyholder.
The Authorised Investment Funds (Tax) (Amendment No. 3) Regulations, SI 2012/3043, correct an ‘inadvertent effect’ of a change to SI 2006/964 following the tax law rewrite process. They restore the previously intended tax treatment of dividend distributions made by AIFs and received by life insurance companies as part of certain long term insurance business where returns are normally taxed (if applicable) only in the hands of the policyholder.
