Commentary

A4.407 'Relevant investments'—individual interest condition

Administration and compliance

A4.407 'Relevant investments'—individual interest condition

A4.407 'Relevant investments'—individual interest condition

An investment may qualify as a relevant investment by meeting the 'individual interest condition'1. This condition is met if the only persons beneficially entitled to interest on the investment are individuals2.

Years prior to 2016/17

An investment was not a 'relevant investment' where an 'appropriate person'3 made a declaration that:

  1.  

    (a)     in a case where only one person was beneficially entitled to the payment, that person was not UK-resident4; or

  2.  

    (b)     in a case where more than one person was beneficially entitled to the payment, none of the people beneficially entitled to the payment were UK-resident5.

In

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