Section 1142 — Corporation Tax Act 2010: Agent of independent status

Agent of independent status 1142 1 A company is not regarded as having a permanent establishment in a territory by reason of the fact that it carries on business there through an agent of independent status acting in the ordinary course of the agent's business. 1A A person is not to be regarded for the purposes of subsection (1) as an agent of independent status in relation to a company where the person—

a is closely related to the company, and b acts exclusively or almost exclusively on behalf of—

i the company, or ii the company and other companies to which the person is closely related. 1B In subsection (1A), “ closely related ” has the meaning that it has in section 1143 (see subsection (2CA) of that section).

2 Sections 1145 to 1150 modify the application of this section in relation to transactions carried out on behalf of a non-UK resident company by a person in the United Kingdom acting as—

a a broker (section 1145), or b an investment manager (sections 1146 to 1150), ... c . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .