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Paragraph 512

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

Amend section 44 (gifts to charity from certain trusts) as follows.

(2)

Omit subsections (1) to (3).

(3)

In subsection (4)—

(a)

for “UK trust” substitute “ trust the trustees of which are resident in the United Kingdom (a “UK trust”) ”, and

(b)

for “subsection (1) above” substitute “ section 628(1) or 630(1) of ITTOIA 2005 ”.

(4)

For subsection (5) substitute—

“(5)

In this section—

  • “qualifying income” has the same meaning as in section 628 of ITTOIA 2005; and

  • “resident”, in relation to the trustees of a trust, shall be construed in accordance with section 110 of the Finance Act 1989.”