{
  "url": "https://openlegislation.uk/finance-act-1974/schedule-7/paragraph-10",
  "json_url": "https://openlegislation.uk/finance-act-1974/schedule-7/paragraph-10.json",
  "legislation": "ukpga/1974/30",
  "legislation_title": "Finance Act 1974",
  "legislation_url": "https://openlegislation.uk/finance-act-1974",
  "path": "schedule/7/paragraph/10",
  "kind": "paragraph",
  "number": "10",
  "heading": null,
  "text": "Where a development gain accrues in respect of a disposal of assets made by a person holding them as trustee for a person who would be absolutely entitled as against the trustee but for being an infant, the income which by virtue of section 38(2) of this Act is treated as arising by reference to that gain shall for the purposes of Chapter II of Part XVI of the Taxes Act (settlements on children) be deemed to be paid to the infant.\nIn this paragraph “infant”, in relation to Scotland, means a pupil or minor.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Sch. 7repealed by Finance Act 1985 (c. 54, SIF 63:1), s. 98(6)and Sch.27 Part Xin relation to disposals of interests in land taking place on or after 19March Finance Act 1985 (c. 54, SIF 63:1),but without affecting the construction of 1979 (C) Sch.5 para. 9 (5)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1974/30/schedule/7/paragraph/10",
    "retrieved_at": "2026-10-29T10:44:42.487502+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}