{
  "url": "https://openlegislation.uk/income-tax-act-2007/section-479",
  "json_url": "https://openlegislation.uk/income-tax-act-2007/section-479.json",
  "legislation": "ukpga/2007/3",
  "legislation_title": "Income Tax Act 2007",
  "legislation_url": "https://openlegislation.uk/income-tax-act-2007",
  "path": "section/479",
  "kind": "section",
  "number": "479",
  "heading": "Trustees' accumulated or discretionary income to be charged at special rates",
  "text": "(1) This section applies if—\n(a) accumulated or discretionary income arises to the trustees of a settlement, and\n(b) the income does not arise under a charitable trust.\n(2) Income tax is charged on the income at the rates referred to in this section instead of at the rates which would otherwise apply (for which see Chapter 2 of Part 2 (rates at which income tax is charged)).\n(2A) Income tax is charged on the income at the property trust rate so far as the income is property income.\n(2B) Income tax is charged on the income at the savings trust rate so far as the income is savings income.\n(3) Income tax is charged on the income at the dividend trust rate so far as the income is dividend income.\n(4) Otherwise, income tax is charged on the income at the trust rate.\n(5) Section 488 disapplies this section in cases relating to Schedule 2 share incentive plans.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in s. 479(1)(b) substituted (8.3.2012) (with effect in accordance with art. 17 of the commencing S.I.) by Finance Act 2010 (c. 13), Sch. 6 paras. 23(2), 34(2); S.I. 2012/736, art. 17"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "S. 479(2A)(2B) inserted (for the tax year 2027-28 and subsequent tax years) by Finance Act 2026 (c. 11), s. 6(8), Sch. 1 para. 24"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Words in s. 479(5) substituted (6.4.2014) by Finance Act 2014 (c. 26), Sch. 8 paras. 70, 89 (with Sch. 8 paras. 90-96)"
    },
    {
      "type": "C",
      "label": "C1",
      "text": "S. 479 excluded (6.4.2014) by The Unauthorised Unit Trusts (Tax) Regulations 2013 (S.I. 2013/2819), regs. 1(3), 12(3)(d)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2007/3/section/479",
    "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."
}