Related Commentary  Related HMRC Manuals

817(1)  The independent broker conditions are met in relation to a transaction carried out on behalf of a non-UK resident by a broker in the United Kingdom if–

(a)conditions A to D are met, if this section applies for the purposes of section 813, or

(b)conditions A to C and E are met, if this section applies for the purposes of section 816.

817(2)  Condition A is that at the time of the transaction the broker is carrying on the business of a broker.

817(3)  Condition B is that the transaction is carried out in the ordinary course of that business.

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