814 Meaning of “disregarded transaction income”
Income Tax Act 2007 (2007 c 3) | Legislation

814  Meaning of “disregarded transaction income”

(1)     Subsection (2) applies if a non-UK resident carries on (alone or in partnership) a business through a broker in the United Kingdom.

(2)     Income is “disregarded transaction income”, subject to subsection (6), if—

(a)     it is transaction income, and

(b)     the independent broker conditions are met in relation to the transaction in question.

(3)     Subsection (4) applies

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