Paragraph 144

United Kingdom

(1)

In this Schedule “associate”, in relation to an individual, means—

(a)

a relative of that individual;

(b)

a partner of that individual;

(c)

the trustee or trustees of any settlement in relation to which—

(i)

that individual, or

(ii)

any relative (whether living or dead) of that individual,

is or was a settlor;

(d)

where that individual is interested in any shares or obligations of a company that are subject to a trust, the trustee or trustees of the settlement concerned;

(e)

where that individual is interested in any shares or obligations of a company that are part of the estate of a deceased person, the personal representatives of the deceased.

(2)

In sub-paragraph (1)(a) and (c)(ii) “relative” means F1spouse or civil partner, parent or remoter forebear, child or remoter issue, or brother or sister.

Section 831(4) of the Taxes Act 1988 applies for the purposes of this paragraph as it applies for the purposes of that Act.

(3)

In sub-paragraph (1)(c) and (d) “settlement” and “settlor” have the same meaning as in F2Chapter 5 of Part 5 of ITTOIA 2005 (see section 620 of that Act).

Annotations

Textual amendments

F1: Words in Sch. 22 para. 144(2) substituted (5.12.2005) by Tax and Civil Partnership Regulations 2005 (S.I. 2005/3229), regs. 1(1), 133
F2: Words in Sch. 22 para. 144(3) substituted (6.4.2005) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 1 para. 522 (with Sch. 2)