# Finance Act 2025, Paragraph 24

Extent: E+W+S+N.I.

(1) Section 646 (adjustments between settlor and trustees etc) is amended as follows.
(2) In subsection (2), for paragraphs (a) and (b) substitute—
“(a) the tax year in which income was treated as arising to the settlor under section 624 or 629 (as the case may be),
(b) the amount of the income in respect of which the settlor has paid tax, and
(c) the amount of tax paid.”
(3) In subsection (6A)—
(a) omit the “and” after paragraph (a);
(b) at the end insert
“, and
(c) the tax year in which the income to which the repayment relates was treated as arising to the settlor.”

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Source: https://www.legislation.gov.uk/ukpga/2025/8/schedule/12/paragraph/24 (the official version)
Page: https://openlegislation.uk/finance-act-2025/schedule-12/paragraph-24
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.