SCHEDULE 15 Charge to Income Tax on Benefits Received by Former Owner of Property
Finance Act 2004 (2004 c 12) | Legislation

SCHEDULE 15 Charge to Income Tax on Benefits Received by Former Owner of Property

Section 84

Introductory

1

In this Schedule—

“IHTA 1984†means the Inheritance Tax Act 1984 (c 51);

[“ITTOIA 2005†means the Income Tax (Trading and Other Income Act) 2005;]

“the 1986 Act†means the Finance Act 1986 (c 41);

“chattel†means any tangible movable property (or, in Scotland, corporeal movable property) other than money;

“excluded transaction†has the meaning given by paragraph 10;

“intangible property†means any property other than chattels or interests in land;

“interest in land†has the same meaning as in Chapter 4 of Part 6 of IHTA 1984;

“land†has the same meaning as in IHTA 1984;

“prescribed†means prescribed by regulations;

“property†has the same meaning as in IHTA 1984;

“regulations†means regulations made by the Treasury under this Schedule;

“settlement†and “settled property†have the same meanings as in IHTA 1984.

[2

(1)     For the purposes of this Schedule whether a person is connected with another person is determined in accordance with section 993 of the Income Tax Act 2007.

(2)     But for those purposes sections 993 and 994 of

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