{
  "url": "https://openlegislation.uk/finance-act-2026/schedule-7/paragraph-23",
  "json_url": "https://openlegislation.uk/finance-act-2026/schedule-7/paragraph-23.json",
  "legislation": "ukpga/2026/11",
  "legislation_title": "Finance Act 2026",
  "legislation_url": "https://openlegislation.uk/finance-act-2026",
  "path": "schedule/7/paragraph/23",
  "kind": "paragraph",
  "number": "23",
  "heading": "Investment managers (removal of the 20% rule)",
  "text": "(1) In section 818 (the independent investment manager conditions) omit subsection (5).\n(2) In section 835M (the independent investment manager conditions) omit subsection (5).\n(3) Omit sections 819 and 835N (investment managers: the 20% rule).\n(4) In consequence of the amendments made by sub-paragraph (3)—\n(a) omit sections 820 to 824,\n(b) omit sections 835O to 835Q, and\n(c) in Schedule 4 (index of defined expressions), in the table omit both entries relating to relevant disregarded income.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2026/11/schedule/7/paragraph/23",
    "retrieved_at": "2026-10-29T08:42:24.914774+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."
}