Property held jointly by married couples or civil partners: The 50/50 rule: income which is treated as the income of the other individual, or of a third party
The 50/50 rule does not apply to income to which one of the individuals is beneficially entitled, so far as it is treated as a result of any other provision of the Income Tax Acts as
- the income of the other individual, or
- the income of a third party.
Where some legislation other than ITA/S836 has provided a different taxation of the income, the 50/50 rule does not apply. For example, the Settlements legislation in Chapter 5, Part 5 ITTOIA may provide another allocation. See TSEM4000+.