420 Disregard of certain admission rights
Income Tax Act 2007 (2007 c 3) | Legislation

Admission rights

420  Disregard of certain admission rights

(1)     A benefit associated with a gift is ignored for the purposes of this Chapter if the benefit consists of a relevant right of admission.

(2)     “Right of admission” means a right which—

(a)     benefits the individual who makes the gift or that individual and one or more members of that individual's family (whether or not the right must be exercised by all of them at the same

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