{
  "url": "https://openlegislation.uk/corporation-tax-act-2010/section-1146",
  "json_url": "https://openlegislation.uk/corporation-tax-act-2010/section-1146.json",
  "legislation": "ukpga/2010/4",
  "legislation_title": "Corporation Tax Act 2010",
  "legislation_url": "https://openlegislation.uk/corporation-tax-act-2010",
  "path": "section/1146",
  "kind": "section",
  "number": "1146",
  "heading": "The independent investment manager conditions",
  "text": "(1) This section applies if an investment transaction is carried out on behalf of a non-UK resident company in the course of the company's trade by a person in the United Kingdom acting as an investment manager.\n(2) In relation to the investment transaction, the circumstances in which the investment manager is regarded for the purposes of section 1142(1) as an agent of independent status acting in the ordinary course of the investment manager's business include where each of the following conditions (the independent investment manager conditions) are met.\n(3) Condition A is that at the time of the transaction the investment manager is carrying on a business of providing investment management services.\n(4) Condition B is that the transaction is carried out in the ordinary course of that business.\n(5) Condition C is that, when the investment manager acts on behalf of the non-UK resident company in relation to the transaction, the relationship between them, having regard to its legal, financial and commercial characteristics, is a relationship between persons carrying on independent businesses dealing with each other at arm's length.\n(6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n(7) Condition E is that the remuneration which the investment manager receives in respect of the transaction for the provision of investment management services to the non-UK resident company is not less than is customary for that class of business.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in s. 1146(2) inserted (for chargeable periods beginning on or after 1.1.2026) by Finance Act 2026 (c. 11), Sch. 7 paras. 15(a), 30"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in s. 1146(2) substituted (for chargeable periods beginning on or after 1.1.2026) by Finance Act 2026 (c. 11), Sch. 7 paras. 15(b), 30"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "S. 1146(6) omitted (for chargeable periods beginning on or after 1.1.2026) by virtue of Finance Act 2026 (c. 11), Sch. 7 paras. 16(1), 30"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2010/4/section/1146",
    "retrieved_at": "2026-10-29T09:10:29.433154+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}