Taxes Consolidation Act 1997 Schedule 2B, paragraph 5

Declarations of special investment scheme

Paragraph 5 of Schedule 2B sets out the requirements for a valid declaration by a special investment scheme to an investment undertaking, so that exit tax is not deducted from gains.

• A special investment scheme can make a declaration to an investment undertaking to secure exemption from exit tax on gains arising on its units.
• The declaration must be in writing, signed by the person entitled to the units, and made on a Revenue-prescribed or authorised form.
• The declaration must confirm that the unitholder is a special investment scheme and must include the scheme's name and tax reference number.
• Revenue may require additional information to be included in the declaration for the purposes of the investment undertakings regime.

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