215 Meaning of “receipts of insignificant value”
Income Tax Act 2007 (2007 c 3) | Legislation

215  Meaning of “receipts of insignificant value”

(1)     This section applies for the purposes of section 214.

(2)     “A receipt of insignificant value” means a receipt of an amount of insignificant value, that is, an amount of value which—

(a)     is not more than £1,000, or

(b)     if it is more than £1,000, is insignificant in relation to the amount subscribed

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