471 Determination of shares etc
Income Tax (Trading and Other Income) Act 2005 (2005 c 5) | Legislation

471  Determination of shares etc

(1)     For the purposes of this Chapter—

(a)     rights under a policy or contract which are beneficially owned by two or more persons jointly, and

(b)     an interest in such rights which is so owned,

are treated as if they were beneficially owned by those persons in equal shares.

(2)     Subsections (3) and (4) apply if immediately before a chargeable event the rights under the policy or contract

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