Finance Act 2004 (c. 12)
This section has no associated Explanatory Notes
482(1)Amend Schedule 15 (charge to income tax on benefits received by former owner of property) as follows.
(2)For paragraph 2 substitute—
“2(1)For the purposes of this Schedule whether a person is connected with another person is determined in accordance with section 993 of the Income Tax Act 2007.
(2)But for those purposes sections 993 and 994 of that Act are to be read as if in those sections—
(a)“relative” included uncle, aunt, nephew and niece, and
(b)“settlement”, “settlor” and “trustee” had the same meanings as in IHTA 1984.”
(3)In paragraph 9(1) for paragraph (c) substitute—
“(c)sections 720 to 730 of the Income Tax Act 2007,”.