[809EZB Meaning of “management fee” in section 809EZA]
Income Tax Act 2007 (2007 c 3) | Legislation

[809EZB  Meaning of “management fee” in section 809EZA]

[(1)     Subject as follows, for the purposes of section 809EZA “management fee” means any sum (including a sum in the form of a loan or advance or an allocation of profits) except so far as the sum constitutes—

(a)     a repayment (in whole or part) of an investment made directly or indirectly by the individual in the scheme,

(b)     an arm's length return on an investment made directly or indirectly by the individual in the scheme, or

[(c)     carried

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