Overview Part 1: New Chapters 2B and 2C of Part 14 of ITA 2007 Section 835P: Treatment of transactions where 20% rule not met
1223.This section provides that, if the 20% rule is not met but all the other independent investment manager conditions are met, only the income in relation to which the 20% rule is not met is not relevant disregarded income. It is based on section 127(8) of FA 1995.