{
  "url": "https://openlegislation.uk/finance-act-1995-section-12712-designated-transactions-regulations-2007/note",
  "json_url": "https://openlegislation.uk/finance-act-1995-section-12712-designated-transactions-regulations-2007/note.json",
  "legislation": "uksi/2007/963",
  "legislation_title": "The Finance Act 1995, Section 127(12), (Designated Transactions) Regulations 2007",
  "legislation_url": "https://openlegislation.uk/finance-act-1995-section-12712-designated-transactions-regulations-2007",
  "path": "note",
  "kind": "note",
  "number": null,
  "heading": "Explanatory note",
  "text": "(This note is not part of the Regulations)\nSection 126 of and Schedule 23 to the Finance Act 1995 (c.4) impose obligations on the UK representative of a non-resident in relation to income tax and capital gains tax.\nSection 127(1)(c) of the Finance Act 1995 sets out the circumstances in which an investment manager carrying out business relating to investment transactions is not capable of being the UK representative of a non-resident. The expression “investment transaction” is dealt with in section 127(12); section 127(12)(c) provides that the expression includes such other transactions as the Treasury may by regulations designate. These Regulations designate transactions in Community tradeable emissions allowances and in transferable units issued pursuant to the Kyoto Protocol as investment transactions for the purposes of section 127.\nA full regulatory impact assessment has not been produced for this instrument as no impact on the private or voluntary sectors is foreseen.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2007/963/note",
    "retrieved_at": "2026-10-29T03:56:39.484947+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."
}