# Income Tax (Trading and Other Income) Act 2005, Section 487: Disregard of certain assignments

Extent: E+W+S+N.I.

For the purposes of this Chapter, an assignment of rights under a policy or contract or a share in such rights is ignored if it is—
(a) by way of security for a debt,
(b) on the discharge of a debt secured by the rights or share, or
(c) between spouses or civil partners living together.

---
Source: https://www.legislation.gov.uk/ukpga/2005/5/section/487 (the official version)
Page: https://openlegislation.uk/income-tax-trading-and-other-income-act-2005/section-487
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.