# Finance Act 2004, Paragraph 42


(1) References in this Schedule to the extent of an interest held directly by a person in a vehicle are references to the proportion of the interests of everyone who directly holds an interest in the vehicle which on a just and reasonable apportionment is represented by that interest.
(2) Sub-paragraph (1) is subject to paragraph 43, which explains how to determine the extent of a person's interest in a vehicle for the purposes of the taxable property provisions where the vehicle is a company.
(3) The Treasury may by regulations—
(a) amend paragraph 43, or
(b) amend this Part of this Schedule for the purposes of explaining how to determine the extent of a person's interest in a vehicle in other cases.
(4) Regulations under sub-paragraph (3) may include provision having effect in relation to times before they are made.

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Source: https://www.legislation.gov.uk/ukpga/2004/12/schedule/29A/paragraph/42 (the official version)
Page: https://openlegislation.uk/finance-act-2004/schedule-29A/paragraph-42
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.