SCHEDULES
SCHEDULE 16Non-residents: investment managers
Part 2Eligibility to be agent of independent status
FA 2003
3
1
In Schedule 26 of FA 2003 (non-resident companies: transactions through broker, investment manager or Lloyd's agent), for paragraph 3(3) and (4) substitute—
3
In sub-paragraph (1) “investment transaction” means any transaction of a description specified for the purposes of this paragraph in regulations made by the Commissioners for Her Majesty's Revenue and Customs.
4
Provision made in regulations under sub-paragraph (3) may, in particular, have effect in relation to accounting periods current on the day on which the regulations are made.
2
In section 828(2) of ICTA (orders and regulations), after “Finance Act 1989” insert “
or paragraph 3(3) of Schedule 26 to the Finance Act 2003
”
.