http://www.legislation.gov.uk/ukpga/2007/3/section/250Income Tax Act 2007An Act to restate, with minor changes, certain enactments relating to income tax; and for connected purposes.texttext/xmlenStatute Law Database2026-09-18Expert Participation2026-09-16 Income Tax Act 2007s. 788(7)Legal Services Act 2007Sch. 21 para. 161(b)s. 29 192 193s. 211(2)art. 2(h) Part 5Chapter 82501Shares subscribed for, issued to, held by or disposed of for an individual by a nominee are treated for the purposes of this Part as subscribed for, issued to, held by or disposed of by the individual.2If shares have been issued to a bare trust for two or more beneficiaries, this Part has effect (with the necessary modifications) as if—aeach beneficiary had subscribed as an individual for all of those shares, andbthe amount subscribed by each beneficiary was equal to the total amount subscribed on the issue of those shares divided by the number of beneficiaries.3In subsection (2) and section 251 “shares” means shares which meet the requirements of section 173(2).