This Practice Note explains the corporation tax treatment of investments in open-ended investment companies (OEICs) and authorised unit trusts (AUTs), together referred to as authorised investment funds (AIFs). It looks at the tax treatment of distributions and disposals where AIFs are (so-called) bond funds or equity funds. It looks at the corporate streaming rules, qualifying investments test, equalisation and anti-avoidance rules. This Practice Note is produced in partnership with Camilla Spielman of Eversheds Sutherland.