“This rule about adjusting investor returns for certain companies no longer applies”
This part of the law used to talk about something called the “Investor return adjustment requirement” for a type of company called a “portfolio tax rate entity”. However, this part of the law no longer exists. It was removed on 1 April 2010. This means that from the 2010-11 tax year onwards, this rule doesn’t apply anymore.
Section HL 7: repealed, on (applying for the 2010–11 and later income years), by section 292(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).
