625 Settlor's retained interest
Income Tax (Trading and Other Income) Act 2005 (2005 c 5) | Legislation

625  Settlor's retained interest

(1)     A settlor is treated for the purposes of section 624 as having an interest in property if there are any circumstances in which the property or any related property—

(a)     is payable to the settlor or the settlor's spouse [or civil partner],

(b)     is applicable for the benefit of the settlor or the settlor's spouse [or civil partner], or

(c)     will, or may, become so payable or applicable.

(2)     Subsection (1) does not apply if the only circumstances are one or more of—

(a)     the bankruptcy of a person who is, or may become, beneficially entitled to the property or

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

The Standard Conditions of Sale (5th edition: 2018 revision)—a guide to the main provisions

The Standard Conditions of Sale (SCS), currently in their 5th edition (2018 revision), are a set of standard conditions which are commonly incorporated into contracts for the sale of residential property. The Standard Commercial Property Conditions (Third Edition—2018 Revision) (SCPC) are used for

LEXISNEXIS

Common assault and battery

Common assault and batteryThe offences of common assault and batteryTechnically, the offences of assault and battery are separate summary offences. An assault is committed when the defendant intentionally or recklessly causes another to apprehend immediate and unlawful violence and battery is

LEXISNEXIS

Voluntary manslaughter

Voluntary manslaughterVoluntary manslaughterVoluntary manslaughter consists of those killings which would be murder (because the accused has the relevant mental element for murder) but which are reduced to manslaughter because of one of the three special defences (loss of control, diminished

LEXISNEXIS

Guarantee payments

Guarantee paymentsThis Practice Note explains the right to a guarantee payment, which provides limited pay protection for certain employees who are laid off or put on short-time working.In practice the question whether a guarantee payment is due will usually arise in the case of hourly paid or piece