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The Income Tax (Trading and Other Income) Act 2005 (Amendments to Chapter 2A of Part 5) Regulations 2019
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- 2019 No. 1452
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Amendments to Chapter 2A of Part 5 of ITTOIA 2005
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10. After section 608M insert—
“Exemption where income of opaque partnership taxable in full treaty territory
608MA.—(1) This section applies where—
(a)under the laws of a full treaty territory, a partnership is regarded for tax purposes as an entity separate and distinct from the partners,
(b)the partnership is resident in the territory throughout a tax year,
(c)UK-derived amounts arise to the partnership in the tax year, and
(d)the UK-derived amounts are chargeable to tax under the laws of the territory.
(2) In the application of section 608A to a partner for the tax year, no account is to be taken of the UK-derived amounts.
(3) For the purposes of subsection (1)(b), the partnership is “resident” in a territory if (and only if) it is resident there by virtue of section 608D(2) (references there to be a person being read as references to the partnership).”.
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