Statute
Section 516 — Corporation Tax Act 2009: Treatment of principal under profit sharing agency arrangements
Text of the provision Official document
Treatment of principal under profit sharing agency arrangements 516 1 The principal under profit sharing agency arrangements is not treated for the purposes of the Corporation Tax Acts as entitled to profits to which the agent is entitled in accordance with section 506(1)(d).
2 And the agent under such arrangements is treated for those purposes as entitled to those profits and the profits specified in section 506(1)(c).
3 In this section “the principal” and “the agent” are to be read in accordance with section 506.
Official source: legislation.gov.uk
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