Regulation 13 Income Tax (Trading and Other Income) Act 2005I1

United Kingdom

(1)

The Income Tax (Trading and Other Income) Act 2005^f1 is amended as follows.

(2)

In section 326(7)^f2 omit “other than the United Kingdom”.

(3)

For section 381E(3)^f3 substitute—

“(3)
In subsection (2) “regulated market” means—

(a)
a UK regulated market within the meaning given by Article 2.1(13A) of Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments,

(b)
an EU regulated market within the meaning given by Article 2.1(13B) of that Regulation, and

(c)
a regulated market within the meaning given by Article 2.1(13) of that Regulation which is authorised and functions regularly and in accordance with Part 3 of the Financial Services (Markets in Financial Instruments) Act 2018 of Gibraltar.”.

(4)

In section 697(2) omit paragraphs (a) and (b).

(5)

In section 704—

(a)

in subsection (3)—

(i)

at the end of paragraph (a) insert “or”;

(ii)

omit “, or” at the end of paragraph (b);

(iii)

omit paragraph (c);

(b)

omit subsection (6).

Annotations

Commencement

I1: Reg. 13 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1

Footnotes

f1: 2005 c. 5.
f2: Section 326(7) was inserted by paragraph 2(4)(b) of Schedule 14 to the Finance Act 2011.
f3: Section 381E was inserted by paragraph 3 of Schedule 12 to the Finance Act 2013 (c. 29).