IFM14240 | Taxation of investment trusts: Management expenses and credits to capital

Some investment trusts allocate all or a proportion of their management expenses to capital account, in accordance with the AIC SORP. Such expenses will be deductible as management expenses if they meet the relevant tests set out in section 1219 CTA 2009, including a requirement that no deduction is allowed for expenses of a capital nature (CTM 08000).