IFM06260 | Tax elected funds (TEFs): application process and effects of entry to the TEF regime: effects of entry into the TEF regime

Once an application to join the TEF regime has been approved by HMRC, the provisions sets out in Part 4B of SI2006/964 will apply and a new distribution period of the fund will commence (see regulation 69Z54 SI 2006/964).

The provisions in part 4B of SI2006/964 will continue to apply to the TEF unless it voluntarily leaves the regime, there is a merger with another fund or a termination notice is issued by HMRC (see IFM06610).