{
  "url": "https://openlegislation.uk/finance-act-2005/section-31",
  "json_url": "https://openlegislation.uk/finance-act-2005/section-31.json",
  "legislation": "ukpga/2005/7",
  "legislation_title": "Finance Act 2005",
  "legislation_url": "https://openlegislation.uk/finance-act-2005",
  "path": "section/31",
  "kind": "section",
  "number": "31",
  "heading": "UK resident vulnerable persons: amount of relief",
  "text": "(1) Special capital gains tax treatment applies for the tax year in accordance with this section if the vulnerable person is UK resident for the tax year.\n(2) The trustees' liability to capital gains tax for the tax year is to be reduced by an amount equal to—\nTQTG-VQTGwhere—\nTQTG is the amount of capital gains tax to which the trustees would (apart from this Chapter) be liable for the tax year in respect of the qualifying trust gains, and\nVQTG is the amount arrived at under subsection (3).\n(3) That amount is—\nTLVA-TLVBwhere—\nTLVB is the total amount of capital gains tax to which the vulnerable person is liable for the tax year, and\nTL VA is what TLVB would be if the qualifying trust gains accrued to the vulnerable person (instead of to the trustees) and no allowable losses were deducted from the qualifying trust gains.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Word in s. 31(1) substituted (17.7.2013) by Finance Act 2013 (c. 29), Sch. 45 para. 151(4)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "S. 31(2)(3) substituted (with effect in accordance with Sch. 2 para. 22 of the amending Act) by Finance Act 2008 (c. 9), Sch. 2 para. 16(2)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Words in s. 31 heading substituted (with effect in accordance with Sch. 2 para. 22 of the amending Act) by Finance Act 2008 (c. 9), Sch. 2 para. 16(3)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2005/7/section/31",
    "retrieved_at": "2026-10-29T09:16:26.978887+00:00",
    "licence": "OGL-UK-3.0",
    "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."
  }
}