Corporation Tax Act 2010 section 1153

Miscellaneous

Section 1153 clarifies when a person is regarded as carrying out a transaction on behalf of another and how the rules apply where broking or investment management forms only part of a wider business.

• A person is treated as acting on behalf of another if they undertake a transaction on behalf of, or to the account of, that other person.
• A person is also treated as acting on behalf of another if they give instructions for the transaction to be carried out by someone else on that basis.
• Where a person acts as a broker or investment manager as only part of their business, that part is treated as a separate business for the purposes of these rules.
• The connected persons rules under section 1122 of the Corporation Tax Act 2010 apply automatically to this chapter without needing a specific cross-reference.