Income Tax Act 2007 section 827

Meaning of "investment manager" and "investment transaction"

Section 827 defines the key terms "investment manager" and "investment transaction" for the purposes of the independent investment manager rules in this chapter.

  • An investment manager is any person who provides investment management services.
  • An investment transaction is any transaction of a type specified in regulations made by HMRC.
  • HMRC regulations specifying investment transactions can take effect from the tax year in which they are made, not just from the following year.
  • Existing regulations designate cash-settled or foreign-currency-settled swap contracts (excluding those relating to land, insurance, or capital redemption business) as investment transactions.

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