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HMRC internal manual

Business Income Manual

Definitions: Another person

In order to decide who should be taxed on the profit or gain under the rules, it is important to identify the parties to the transaction and whether it is appropriate to tax a third party to the transaction (‘another person’), if that person provided the value or the opportunity for the person who receives the consideration.

Sometimes it may be difficult to differentiate the person receiving the consideration from the person providing the value or opportunity. For the avoidance of doubt, the legislation sets out a number of situations in which persons can be distinguished:

  • A partnership (or partners in partnership) may be regarded as a person or persons distinct from the individuals or other persons who are for the time being partners.
  • The trustees of settled property may be regarded as persons distinct from the individuals or other persons who are for the time being trustees.
  • Personal representatives may be regarded as persons distinct from the individuals or other persons who are for the time being personal representatives.

 

See Section 356OO CTA 2010 and Section 517P ITA 2007.