Part 14Income tax liability: miscellaneous rules
Chapter 3Jointly held property
836Jointly held property
1
This section applies if income arises from property held in the names of individuals—
a
who are married to, or are civil partners of, each other, and
b
who live together.
2
The individuals are treated for income tax purposes as beneficially entitled to the income in equal shares.
3
But this treatment does not apply in relation to any income within any of the following exceptions.
Exception A
Income to which neither of the individuals is beneficially entitled.
Exception B
Income in relation to which a declaration by the individuals under section 837 has effect (unequal beneficial interests).
Exception C
Income to which Part 9 of ITTOIA 2005 applies (partnerships).
Exception D
Income arising from a UK property business which consists of, or so far as it includes, the commercial letting of furnished holiday accommodation (within the meaning of Chapter 6 of Part 3 of ITTOIA 2005).
Exception E
Income consisting of a distribution arising from property consisting of—
a
shares in or securities of a close company to which one of the individuals is beneficially entitled to the exclusion of the other, or
b
such shares or securities to which the individuals are beneficially entitled in equal or unequal shares.
“Shares” and “securities” have the same meaning as in section 254 of ICTA.
Exception F
Income to which one of the individuals is beneficially entitled so far as it is treated as a result of any other provision of the Income Tax Acts as—
a
the income of the other individual, or
b
the income of a third party.