{
  "url": "https://openlegislation.uk/income-tax-act-2007/schedule-1/paragraph-531",
  "json_url": "https://openlegislation.uk/income-tax-act-2007/schedule-1/paragraph-531.json",
  "legislation": "ukpga/2007/3",
  "legislation_title": "Income Tax Act 2007",
  "legislation_url": "https://openlegislation.uk/income-tax-act-2007",
  "path": "schedule/1/paragraph/531",
  "kind": "paragraph",
  "number": "531",
  "heading": null,
  "text": "(1) Amend section 467 (liability of trustees for tax on gains from contracts for life insurance etc) as follows.\n(2) After subsection (1) insert—\n“(1A) If trustees are liable for tax under this Chapter, the gain is treated for income tax purposes as income of the trustees.”\n(3) For subsection (7) substitute—\n“(7) If trustees are liable for tax under this Chapter, it is charged at the savings rate if—\n(a) condition A is met, or\n(b) condition D is met and the trustees are trustees of a charitable trust.”",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [
    {
      "type": "omitted",
      "affecting": "ukpga/2008/9",
      "affecting_title": "Finance Act 2008"
    },
    {
      "type": "omitted",
      "affecting": "ukpga/2008/9",
      "affecting_title": "Finance Act 2008"
    },
    {
      "type": "repealed",
      "affecting": "ukpga/2012/14",
      "affecting_title": "Finance Act 2012"
    },
    {
      "type": "omitted",
      "affecting": "ukpga/2008/9",
      "affecting_title": "Finance Act 2008"
    },
    {
      "type": "omitted",
      "affecting": "ukpga/2008/9",
      "affecting_title": "Finance Act 2008"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2007/3/schedule/1/paragraph/531",
    "retrieved_at": "2026-10-29T09:13:03.599581+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."
}