{
  "url": "https://openlegislation.uk/income-tax-act-2007/section-481",
  "json_url": "https://openlegislation.uk/income-tax-act-2007/section-481.json",
  "legislation": "ukpga/2007/3",
  "legislation_title": "Income Tax Act 2007",
  "legislation_url": "https://openlegislation.uk/income-tax-act-2007",
  "path": "section/481",
  "kind": "section",
  "number": "481",
  "heading": "Other amounts to be charged at special rates for trustees",
  "text": "(1) This section applies if—\n(a) the trustees of a settlement are liable for income tax on an amount of a type set out in section 482,\n(b) the trustees are not trustees of a unit trust scheme, and\n(c) the amount is not income arising under a charitable trust.\n(2) Income tax is charged on the amount at one of the rates referred to in this section instead of at the rate which would otherwise apply (for which see Chapter 2 of Part 2 (rates at which income tax is charged)).\nThis is subject to subsection (5).\n(3) If the amount is within Type 1 or Type 12 as set out in section 482, income tax is charged on the amount at the dividend trust rate.\n(3A) If the amount is within Type 2, 6 or 7 as set out in section 482, income tax is charged on the amount at the savings trust rate.\n(3B) If the amount is within Type 5 as set out in section 482, income tax is charged on the amount at the property trust rate.\n(4) Otherwise, income tax is charged on the amount at the trust rate.\n(5) Income tax is not to be charged as mentioned in subsection (2) so far as the amount—\n(a) is accumulated or discretionary income,\n(b) would be accumulated or discretionary income apart from section 480(3)(a) or (c), or\n(c) is income from property within subsection (6).\n(6) Property is within this subsection if it is held for the purposes of a superannuation fund to which section 615(3) of ICTA (superannuation funds relating to undertakings outside the UK) applies.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in s. 481(1)(c) 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(3), 34(2); S.I. 2012/736, art. 17"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in s. 481(3) inserted (with effect in accordance with s. 19(10) of the amending Act) by Finance Act 2015 (c. 11), s. 19(7)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "S. 481(3A)(3B) inserted (for the tax year 2027-28 and subsequent tax years) by Finance Act 2026 (c. 11), s. 6(8), Sch. 1 para. 25"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2007/3/section/481",
    "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."
}