Section 28A Disapplication of section 629 of ITTOIA 2005F1

(1)

In a case where this section applies, section 629(1) of ITTOIA 2005 shall not apply in respect of a payment by the trustees of a settlement to a beneficiary under the settlement.

(2)

This section applies if in a year of assessment—

(a)

the trustees make a payment to a vulnerable person,

(b)

the payment is made out of qualifying trusts income,

(c)

the vulnerable person is a relevant child (within the meaning given by section 629 of ITTOIA 2005) of a settlor in relation to the settlement, and

(d)

the trustees have made a successful claim for special income tax treatment under section 25.

Annotations

Textual amendments

F1: S. 28A inserted (with effect in accordance with Sch. 13 para. 36(2) of the amending Act) by Finance Act 2006 (c. 25), Sch. 13 para. 36(1)