- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Gwreiddiol (Fel y'i Deddfwyd)
There are currently no known outstanding effects for the Income Tax Act 2007, Section 257T.
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(1)This section applies if—
(a)the investor transfers the whole or part of the investment to another individual (“B”) during their lives,
(b)the investor was married to, or was the civil partner of, B at the time of the transfer, and
(c)section 257R does not apply to the transfer.
(2)This Part (including subsection (1)) has effect, in relation to any subsequent disposal or other event, as if—
(a)B were the investor as respects the transferred stake,
(b)B's liability to income tax had been reduced in respect of the transferred stake for the same tax year as that for which the investor's was so reduced,
(c)the amount by which B's liability to income tax had been reduced in respect of the transferred stake were the same as that by which the investor's liability had been so reduced, and
(d)the same amount of SI relief had continued to be attributable to the transferred stake despite the transfer.
(3)If the amount of SI relief attributable to the transferred stake had been reduced before the relief was obtained by the investor—
(a)this Part has effect, in relation to any subsequent disposal or other event, as if the amount of SI relief attributable to the transferred stake had been correspondingly reduced before the relief was obtained by B, and
(b)section 257QD(2), 257QO(3) and 257RA(4) apply in relation to B as they would have applied in relation to the investor.
(4)If, because of any such disposal or other event, an assessment for reducing or withdrawing SI relief is to be made, the assessment is to be made on B.]
Textual Amendments
F1Pt. 5B inserted (17.7.2014) by Finance Act 2014 (c. 26), Sch. 11 para. 1
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