Guidance to Members as to when they should recognise Back VAT in their financial statements including the various stages of recognition that might apply and the disclosures that might be made.

Guidance for VCTs on "inadvertent breaches" of the investment tests.

Following discussions with HM Revenue & Customs the AITC has produced guidance to clarify how dividends received from a UK-REIT will be treated for the purposes of the 842 income test.

Where investment trusts (and Venture Capital Trusts) prepare their accounts under IFRS, HM Treasury has now issued regulations on the taxation of creditor loan relationships and certain derivative contracts. The regulations will apply in respect of accounting periods beginning on or after 1 January 2006.

Following changes to UK GAAP and IFRS which altered the way in which investment trusts account for the payment of ordinary dividends to shareholders the AITC and HM Revenue & Customs have agreed that these changes will not affect how the retention test operates.

A paper setting out the basis of the understanding reached with the Inland Revenue regarding the way in which the consideration and granting of section 842 approval will be handled following the introduction of Corporation Tax Self-Assessment.

A basic guide to the calculation of capital gains on the disposal of shares acquired through a Savings Scheme.

Confirmation of the Inland Revenue's treatment of UK dividends for the purposes of the section 842 conditions following changes to accounting standards to account for UK dividends exclusive of the tax credit.

An introduction to the taxation of investment trust companies, in particular the conditions for approval under section 842 ICTA 1988.

A Guidance Note on the tax implications of tender offers and the possible impact of section 703 ICTA 1988.

A Guidance Note on the tax treatment of annuity income shares.