Did the scheme, either directly/indirectly, own any assets acquired at arms length?

Assets acquired at arm's length means assets that were not acquired from any of the persons or companies connected to the scheme.

The term 'connected' is as defined in Section 993/4 of Income Tax Act 2007.

For more information regarding Indirect Holding see RPSM07109410 onwards.

Other useful definitions

Genuinely diverse commercial vehicle – see RPSM07109420
Investment Regulated Pension Scheme – see RPSM07109050

RPSM is the Registered Pension Schemes Manual which can be found at www.hmrc.gov.uk/pensionschemes/index.htm