SCHEDULES

SCHEDULE 16Non-residents: investment managers

Part 2Eligibility to be agent of independent status

5ITA 2007

1

Section 827 (meaning of “investment transaction”) is amended as follows.

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.