Income Tax (Trading and Other Income) Act 2005

487 Disregard of certain assignments U.K.

For the purposes of this Chapter, an assignment of rights under a policy or contract or a share in such rights is ignored if it is—

(a) by way of security for a debt,

(b) on the discharge of a debt secured by the rights or share, or

(c) between spouses [F1 or civil partners] living together.

Textual Amendments

F1 Words in s. 487 inserted (5.12.2005) by The Tax and Civil Partnership Regulations 2005 (S.I. 2005/3229), reg. 185