Corporation Tax Act 2010 section 357LK

Miscellaneous

Section 357LK clarifies what it means to carry out a transaction on behalf of another person, and how brokerage or investment management activities forming part of a wider business are treated under this chapter.

• A person is regarded as carrying out a transaction on behalf of another if they undertake it, whether on behalf of or to the account of that other person
• A person is also regarded as acting on behalf of another if they give instructions for the transaction to be carried out by someone else
• Where a person acts as a broker or investment manager as only part of a wider business, the brokerage or investment management part is treated as a separate business
• These definitions apply for all purposes within this chapter of the Corporation Tax Act 2010