IPTM1550 - Outline of the chargeable events regime: person chargeable
In the straightforward case, the gain is attributed to the person who was the beneficial owner of the policy rights immediately before the chargeable event took place. Beneficial ownership is considered further at IPTM2071.
Where rights are held on trust the position is more complicated. ITTOIA05/S464 onwards determines the person chargeable. See IPTM3250 for more details.