[809N Section 809L: gift recipients, qualifying property and enjoyment]
Income Tax Act 2007 (2007 c 3) | Legislation

[809N  Section 809L: gift recipients, qualifying property and enjoyment]

[(1)     This section applies for the purposes of determining whether or not income or chargeable gains of an individual are remitted to the United Kingdom by virtue of condition C in section 809L.

(2)     A “gift recipient” means a person, other than a relevant person, to whom the individual makes a gift of money or other property that—

(a)     is income or chargeable gains of the individual, or

(b)     derives (wholly or in part, and directly or indirectly) from income or chargeable gains of the individual.

(3)     The question of whether or not a person is a relevant person is to be determined by reference to the time

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

A married but non-cohabiting couple are looking to extend their leave under Tier 2 (General). They have

A married but non-cohabiting couple are looking to extend their leave under Tier 2 (General). They have not been living at the same address in the UK since 2017 but are in a genuine relationship. What effect will this have on their extension application?Immigration Rules, Part 8, para 319C sets out

LEXISNEXIS

Collective investment schemes—essentials

Collective investment schemes—essentialsThis Practice Note examines the definition of a collective investment scheme (CIS) and available exemptions, and the treatment of regulated and unregulated CIS.Definition of a collective investment schemeThe definition of a CIS is contained in section 235 of

LEXISNEXIS

The Financial Assistance Scheme—what are the available benefits?

The Financial Assistance Scheme—what are the available benefits?THIS PRACTICE NOTE APPLIES TO SCHEMES ENTERING THE FINANCIAL ASSISTANCE SCHEME FROM 1 JANUARY 2012.Where a scheme, its employer(s) and individual members have satisfied the criteria for eligibility into the Financial Assistance Scheme

LEXISNEXIS

Common financial covenants

Common financial covenantsThis Practice Note explains certain common financial covenants used in commercial finance transactions including:•minimum net worth test•gearing ratio•leverage ratio (or debt to equity ratio)•current ratio (or acid test ratio)•cashflow ratio•interest cover ratio, and•loan