# Finance Act 2012, Section 12: Settlements: income originating from settlors other than individuals


(1) ITTOIA 2005 is amended as follows.
(2) In section 627 (income where settlor retains an interest: exceptions), at the end insert—
“(4) The rule in section 624(1) does not apply in relation to income which—
(a) arises under a settlement, and
(b) originates from any settlor who was not an individual.”
(3) In section 645 (property or income originating from settlor), in subsection (2), for “section 644” substitute “ sections 627 and 644 ”.
(4) The amendments made by this section have effect in relation to income arising on or after 21 March 2012.

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Source: https://www.legislation.gov.uk/ukpga/2012/14/section/12 (the official version)
Page: https://openlegislation.uk/finance-act-2012/section-12
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.