152Non-resident companies: transactions carried out through broker, investment manager or Lloyd’s agentU.K.
[F1(1)]Schedule 26 to this Act contains provisions supplementing—
(a)section 148(3) (meaning of “permanent establishment”: not to include independent agent), F2...
F2(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
as regards transactions carried out through a broker, investment manager or Lloyd’s agent.
[F3(2)Schedule 26 also contains provision about disregarding profits of certain investment transactions carried out on behalf of non-resident companies when attributing profits under section 11AA of the Taxes Act 1988.]
Textual Amendments
F1S. 152(1): s. 152 renumbered as s. 152(1) (with effect in accordance with Sch. 16 para. 11(2) of the amending Act) by Finance Act 2008 (c. 9), Sch. 16 para. 8(2)
F2S. 152(b) and word repealed (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 453, Sch. 3 Pt. 1 (with Sch. 2)
F3S. 152(2) inserted (with effect in accordance with Sch. 16 para. 11(2) of the amending Act) by Finance Act 2008 (c. 9), Sch. 16 para. 8(3)