Statute
Section 564X — Income Tax Act 2007: Treatment of principal under profit share agency arrangements
Text of the provision Official document
Treatment of principal under profit share agency arrangements 564X 1 The principal under profit share agency arrangements is not treated for the purposes of the Income Tax Acts as entitled to profits to which the agent is entitled in accordance with section 564F(1)(e).
2 And the agent under such arrangements is treated for those purposes as entitled to those profits and the profits specified in section 564F(1)(d).
3 In this section “the principal” and “the agent” are to be read in accordance with section 564F.
Official source: legislation.gov.uk
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