{
  "url": "https://openlegislation.uk/finance-act-2025/schedule-12/paragraph-14",
  "json_url": "https://openlegislation.uk/finance-act-2025/schedule-12/paragraph-14.json",
  "legislation": "ukpga/2025/8",
  "legislation_title": "Finance Act 2025",
  "legislation_url": "https://openlegislation.uk/finance-act-2025",
  "path": "schedule/12/paragraph/14",
  "kind": "paragraph",
  "number": "14",
  "heading": null,
  "text": "(1) Section 643B (meaning of “untaxed benefits total” in section 643A) is amended as follows.\n(2) In subsection (1), for Step 1 substitute—\n“Step 1\nIdentify each benefit provided by the trustees to the individual—\n(a) in the current tax year, or an earlier tax year for which the individual was UK resident, and\n(b) if the individual is not the settlor, at a time when the individual was a close member of the settlor’s family.”\n(3) For subsection (2) substitute—\n“(2) For the purposes of Step 1 in subsection (1), if—\n(a) the trustees provide a benefit to an individual in a given tax year,\n(b) the individual is a close member of the settlor’s family when the benefit is provided,\n(c) the individual is non-UK resident, or is a qualifying new resident, for the tax year, and\n(d) the settlor is UK resident for the tax year,\nthe benefit is instead treated as provided to the settlor.”\n(4) In subsections (4) and (5), for “643M” substitute “643EA”.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2025/8/schedule/12/paragraph/14",
    "retrieved_at": "2026-10-29T08:47:01.939707+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "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."
}