{
  "url": "https://openlegislation.uk/income-tax-act-2007/section-873",
  "json_url": "https://openlegislation.uk/income-tax-act-2007/section-873.json",
  "legislation": "ukpga/2007/3",
  "legislation_title": "Income Tax Act 2007",
  "legislation_url": "https://openlegislation.uk/income-tax-act-2007",
  "path": "section/873",
  "kind": "section",
  "number": "873",
  "heading": "Discretionary or accumulation settlements",
  "text": "(1) A settlement is a discretionary or accumulation settlement for the purposes of this Chapter if any income arising to the trustees would (unless treated as income of the settlor) be to any extent income within subsection (2) for the tax year in which it arises.\n(2) Income is within this subsection so far as it is—\n(a) accumulated or discretionary income as defined in section 480 (other than income arising under a charitable trust or an unauthorised unit trust in relation to which regulation 12 of the Unauthorised Unit Trusts (Tax) Regulations 2013 applies), or\n(b) an amount of a type set out in section 482 (unless the trust is a unit trust scheme or the amount is income arising under a charitable trust or is excluded by section 481(5)).\n(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n(5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n(6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in s. 873(2)(a) 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(5), 34(2); S.I. 2012/736, art. 17"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in s. 873(2)(a) substituted (6.4.2014) by The Unauthorised Unit Trusts (Tax) Regulations 2013 (S.I. 2013/2819), regs. 1(3), 37(12) (with reg. 32)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Words in s. 873(2)(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(5), 34(2); S.I. 2012/736, art. 17"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "S. 873(3)-(6) omitted (with effect in accordance with Sch. 6 para. 28 of the amending Act) by virtue of Finance Act 2016 (c. 24), Sch. 6 para. 18"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2007/3/section/873",
    "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."
}