IPTM1075 - Legislative references: ITTOIA 2005 and ICTA 2009
Parallel legislative codes: individuals and companies
The Income Tax (Trading and Other Income) Act 2005 (ITTOIA05) applies to chargeable event gains where the person liable is an individual, personal representative or trustee.
If a company is liable, then the deemed loan relationships legislation at Part 6 of the Corporation Tax Act 2009 (CTA09) applies.
As the chargeable events legislation largely focuses on the policy, rather than the person charged, it is often difficult to give a single legislative reference in the text.