Income Tax Act 2007 section 835S

Interpretation of Chapter

Section 835S defines the key terms used throughout this Chapter, including "branch or agency", "investment manager", and "investment transaction".

  • A "branch or agency" is broadly defined to include any factorship, agency, receivership, branch or management through which a non-UK resident may operate in the UK.
  • An "investment manager" carries the same meaning as set out in Chapter 1 of Part 14 (section 827), which provides the detailed definition of who qualifies as an investment manager.
  • An "investment transaction" is any transaction of a type specified in regulations made by HMRC, currently set out in the Investment Manager (Specified Transactions) Regulations 2009.
  • Regulations specifying investment transactions can apply retrospectively to the tax year in which they are made, meaning new types of transaction can be brought within scope from the start of the current year.

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