Finance Act 2008 (c. 9)

SCHEDULES

SCHEDULE 16 U.K. Non-residents: investment managers

Part 2 U.K. Eligibility to be agent of independent status

FA 2003 U.K.

F1 3 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1 Sch. 16 para. 3 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

ITA 2007 U.K.

4 U.K. ITA 2007 is amended as follows.

5 (1) Section 827 (meaning of “investment transaction”) is amended as follows. U.K.

(2) For subsections (2) and (3) substitute—

“(2) In this section “investment transaction” means any transaction of a description specified for the purposes of this section in regulations made by the Commissioners for Her Majesty's Revenue and Customs.

(3) Provision made in regulations under subsection (2) may, in particular, have effect in relation to the tax year current on the day on which the regulations are made.”

6 (1) Section 1014(2) (orders and regulations under the Income Tax Acts: excluded powers) is amended as follows. U.K.

(2) In paragraph (g)(iia), omit “and”.

(3) After paragraph (g)(iia) insert—

“(iib) section 827(2) (meaning of “investment transaction”), and”.