[541B Section 541A: further definitions]
Income Tax (Trading and Other Income) Act 2005 (2005 c 5) | Legislation

[541B  Section 541A: further definitions]

[(1)     This section supplements section 541A.

(2)     “Commission”, in relation to a policy or contract, includes any passing of value to or for the benefit of an intermediary, or a person connected with an intermediary, that can reasonably be taken to represent a reward in respect of the policy or contract.

(3)     Commission in respect of a policy or contract is “reinvested” if, as a result of a waiver of an entitlement to it, there is an increase in the total value

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