Paragraph 2 QAHCs

United Kingdom

(1)

In the table in section 845H of ITTOIA 2005—

(a)

in item 23—

(i)

for “paragraph 46” substitute “paragraph 46(4) to (6)”,

(ii)

after “arising” insert “to an individual who provided investment management services in connection with investment arrangements to which a QAHC is party”, and

(iii)

for “a QAHC (within the meaning of that Schedule)” substitute “the QAHC as a result of an interest the individual acquired during the course of the provision of those services”, and

(b)

after the row containing item 23 insert—

“
“QAHC” and “investment management services” have the meanings they have in that Schedule.
”

(2)

In Schedule D1 to TCGA 1992, in paragraph 6—

(a)

in the definition of “qualifying QAHC gain”—

(i)

after “accruing” insert “to an individual who provided investment management services in connection with investment arrangements to which a QAHC is party”, and

(ii)

for the words from “a QAHC” to the end substitute “the QAHC that were acquired during the course of the provision of those services”, and

(b)

at the end insert—

““QAHC” and “investment management services” have the meanings they have in that Schedule.”

(3)

In paragraph 46 of Schedule 2 to FA 2022 (qualifying asset holding companies), in sub-paragraph (6A) for “item 22” substitute “item 23”.

(4)

This paragraph has effect in relation to income arising and gains accruing on or after the day on which this Act is passed.