Part HTaxation of certain entities
Portfolio investment entities: Entry rules
HM 7Requirements
For an entity to be a PIE, it must—
- meet the requirements of the entry rules in sections HM 8 to HM 10B, HM 17, HM 18, and HM 20, as applicable; and
- be 1 of the types of entity referred to in section HM 2(2); and
- choose under section HM 71 or HM 71B to become a PIE; and
- maintain the requirements of the rules in sections HM 8 to HM 20, as applicable; and
- not lose PIE status under the exit rules in sections HM 24 to HM 30.
Compare
- ss HL 2(2), HL 15(1), (2)
Notes
- Section HM 7: inserted, 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).
- Section HM 7(a): amended, on , by section 85 of the Taxation (Annual Rates for 2024–25, Emergency Response, and Remedial Measures) Act 2025 (2025 No 9).
- Section HM 7(c): amended, on , by section 56 of the Taxation (Tax Administration and Remedial Matters) Act 2011 (2011 No 63).