Paragraph 23

(1)

ITA 2007 is amended as follows.

(2I1)

In section 479(1)(b) (special rates for trustees' income), for “trust established for charitable purposes only” substitute “ charitable trust ”.

(3)

In section 481(1)(c) (other special rates for trustees), for “trust established for charitable purposes only” substitute “ charitable trust ”.

(4)

Omit section 519 (meaning of “charitable trust”).

(5)

In section 873(2) (discretionary or accumulation settlements), in paragraphs (a) and (b), for “trust established for charitable purposes only” substitute “ charitable trust ”.

(6I2)

In section 989 (definitions), omit the definition of “charity”.

(7)

In Schedule 4 (index of defined expressions)—

(a)

in the entry for “charitable trust (in Part 10)”—

(i)

omit “(in Part 10)”, and

(ii)

for “section 519” substitute “ paragraph 1 of Schedule 6 to FA 2010 ”, and

(b)

in the entries for “charity”, “charity (in Chapter 2 of Part 8)” and “charity (in Chapter 3 of Part 8)”, for “section 989” substitute “ paragraph 1 of Schedule 6 to FA 2010 ”.

Annotations

Commencement

I1: Sch. 6 para. 23(2)-(5) (7) in force at 8.3.2012 with effect as mentioned in art. 17 of the commencing S.I. by S.I. 2012/736, art. 17
I2: Sch. 6 para. 23(6) in force at 8.3.2012 with effect as mentioned in art. 18 of the commencing S.I. by S.I. 2012/736, art. 18