CG41300 - Unit and investment trusts: unit trust schemes: general

A 鈥榰nit trust scheme鈥� has the same meaning as in the Financial Services and Markets Act2000 (TCGA92/S99 (2)(a)). A unit trust scheme may be for tax purposes

  • an authorised unit trust, or
  • an unauthorised unit trust

An 鈥榠nvestment trust鈥� is a limited company with fixed share capital. It maybe 鈥榓pproved鈥� by the Board of HMRC under ICTA88/S842, otherwise it is鈥榰napproved鈥�. See CG41400+ for more information on approved and unapprovedinvestment trusts.