Part 15Deduction of income tax at source

Chapter 2Meaning of “relevant investment” for purposes of section 876

Investments which are not relevant investments

867Lloyd's premium trust funds

(1)

An investment is not a relevant investment if it forms part of a premium trust fund of an underwriting or former underwriting member of Lloyd's.

(2)

In this section “premium trust fund” has the meaning given in section 184 of FA 1993.