Modifications etc. (not altering text)
C1Pt. 3 applied (17.7.2014) by Finance Act 2014 (c. 26), s. 223(8)(9)(e)
(1)In section 151 “associate”, in relation to the donor, means any of the following—
(a)an individual (“a connected person”) who is connected with the donor,
(b)an individual who is the settlor in relation to a settlement of which a trustee is (in the capacity of trustee) connected with the donor,
(c)the spouse or civil partner of a connected person or of a relevant settlor,
(d)a relative of a connected person or of a relevant settlor, or the spouse or civil partner of a relative of a connected person or of a relevant settlor,
(e)a relative of the spouse or civil partner of a connected person or of a relevant settlor, or
(f)the spouse or civil partner of a person falling within paragraph (e).
(2)In subsection (1)—
“relative” means brother, sister, ancestor or lineal descendant;
“settlement” and “settlor” have the same meaning as in Chapter 5 of Part 5 of ITTOIA 2005 (see section 620 of that Act).
(3)In subsection (1)(b) “trustee” is to be read in accordance with section 1123(3) of CTA 2010 (“connected persons”: supplementary).
(4)For the purposes of section 151 occupation of any part of a dwelling is regarded as occupation of the dwelling.
(5)For the purposes of section 151(3)—
(a)the making of a gift is disregarded if it is made before the day on which this Act is passed, and
(b)an agreement to make a gift is disregarded if the agreement is made before that day.
(6)Arrangements entered into before the day on which this Act is passed are disregarded for the purposes of section 151(3) unless a material alteration has been made to them on or after that date.
“Material alteration” means an alteration affecting anything in the arrangements that relates to the individual's having (at any time), or potentially having, permission to occupy the dwelling.
(7)References in section 151 and this section to a gift include the disposal of an asset for consideration of an amount or value which is less than the market value of the asset.
(8)In section 151 and this section “arrangements” includes any scheme, arrangement or understanding of any kind, whether or not legally enforceable, involving a single transaction or two or more transactions.