Paragraph 14 Flow-through entities

United Kingdom

In section 169 (certain non tax resident entities to be treated as flow-through entities), in subsection (2)—

(a)

in the words before paragraph (a), after “created” insert “in”;

(b)

in paragraph (a)—

(i)

after “is” insert “regarded as”;

(ii)

for “its owners” substitute “holders of direct ownership interests in the member”.