# Finance Act 2008, Paragraph 130


In paragraph 3 of Schedule 4B (transfers of value by trustees linked with trustee borrowing: settlements), for sub-paragraph (4) substitute—
“(4) A settlement is “within section 87” for a tax year if—
(a) section 87 applies to the settlement for that year, or
(b) chargeable gains would be treated under section 89(2) as accruing in that year to a beneficiary who received a capital payment from the trustees of the settlement in that year.
(5) The reference in subsection (4)(b) to chargeable gains treated as accruing includes offshore income gains treated as arising.”

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Source: https://www.legislation.gov.uk/ukpga/2008/9/schedule/7/paragraph/130 (the official version)
Page: https://openlegislation.uk/finance-act-2008/schedule-7/paragraph-130
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.